Debenhams Ottaway LLP, have launched an invitation to tender for its litigation funding panel. The firm’s clients include high net worth individuals, entrepreneurs, fast growing SMEs, large corporations and insolvency practitioners.
The funding panel comprises of three lots. The first is for claims up to £1,000,000 in value. The second is for claims greater than £1,000,000 up to £5,000,000 in value and the third is for claims over £5,000,000 in value. The objective of the funding panel is to cut out the middle man in the litigation funding process and to pass on the savings in the costs of litigation funding to clients. The firm also hopes to simplify the funding process and, through building relations with the funder, unlock greater value for clients using litigation funding generally.
The responses from interested parties are due by 28 February 2018 and the firm plans to announce the new panel by 28 March 2018.
Commenting on the forthcoming panel, Luke Harrison said:
“With a litigation disputes team made up of many ex City and London lawyers, we are well placed to advise on claims in a proportionate manner, as our costs are often significantly less than those of London based firms. This makes it possible to unlock litigation funding for cases which might otherwise not be fundable because of the economics of the claim. Through our own litigation funding panel we aim to drive value in the litigation funding process for our clients by building productive and long-term relationships with funders, cutting out an unnecessary layer of broker costs and streamlining the funding process.”
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