Litigation Funding is available from the Calunius Fund to manage the costs risks for Claimants in litigation or arbitration. Those costs risks include lawyers’ bills, fees for experts to give evidence in support of the case, Court fees and other expenses, plus the possibility of having to pay the other side’s costs if the claim is unsuccessful.
Generally, Litigation Funding is “non-recourse”. If the claim turns out to be unsuccessful and the Claimant has performed its obligations, there is nothing to pay.
Historically, the role of Litigation Funding was restricted to insolvencies. Nowadays, Litigation Funding is more often about transforming the bargaining power of Claimants who are in litigation with an opponent whose resources are much greater than the Claimants can deploy.
In a typical Calunius Fund transaction, the Fund takes on the obligation to pay the Claimant’s lawyers’ fees, experts and other costs and expenses.
Calunius’ return from successful cases comes in the form of a multiple of the sums invested and/or a proportion of the damages awarded.
There is a major advantage when Claimants secure Litigation Funding from The Calunius Fund. Whilst there may be no obligation to notify the other parties to litigation that the Claimant has secured Litigation Funding, Defendants to a claim that is understood to be supported by The Calunius Fund will know that the case against them has been professionally appraised by experts independent of the Claimant, both as to the merits and as to quantum.
Calunius Capital in the media -
2012
Herbert Smith - 25 January 2012
Litigation powerhouse, Herbert Smith, recently held a seminar to discuss how anticipated changes to the costs and funding regime are likely to change the litigation landscape. Calunius chairman Leslie Perrin, was one of the speakers along with Lord Justice Jackson. Here is a copy of Herbert Smith’s bulletin following the seminar and a link to a fuller version of the report on Herbert Smith’s "litigation notes" blog.
Effective regulation is key to the sustainability of litigation funding - 20 January 2012
A report to be published later this month by researchers at the University of Oxford comes to the conclusion that litigation funding is useful in granting access to justice; the report further addresses the question whether effective regulation is needed within the sector to protect the integrity of all parties. Calunius participated in the market survey carried out by the researchers and we hope that with the help of the newly established Association of Litigation Funders, third party funders will agree to abide by the new Code of Conduct for Litigation Funding. For further information, please refer to the University’s website.
5 January 2012
If you are fortunate enough to subscribe to Global Arbitration Review you can read an article by Calunius’ Christian Stuerwald and Mick Smith deliberating the Fuchs and Kardassopoulos v Georgia ICSID case. It is unusual that details of an investment treaty claim supported by litigation funding are released into the public domain.
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