Sunday, 11 October 2009

UK Litigation funder to provide no win no fee funding in property settlement case

The UK Mail Online is reporting that an English commercial litigation funder, in a first, is to provide no win no fee funding, similar to personal injuries matters, to a wife of a tycoon who alleges that he has lost his GBP400 million fortune.

I am not aware of any litigation funder in Australia who is prepared to do this. Some provide funding, but with interest to be paid on the borrowed funds. Some family law solicitors are willing to defer their fees until property settlement is achieved, but no one that I am aware of in family law in Australia is prepared to say that they will wait on a no win no fee basis.

2 comments:

Mark said...

No win no fee is also known as conditional fee agreements. They were introduced when Legal aid was still available for personal injury claims. It was done primarily with the purpose of helping people with incomes above legal aid eligibility limit, to fund personal injury litigation. Initially, people who had an income above the limit used to find it difficult to pay for a solicitor. http://www.accidentsdirect.com/no-win-no-fee.aspx.

Mike said...

Well, the only reason I could see why the funder is prepared to provide a no win no fee funding is that the funder is 101% sure they have a winning case.