Litigation finance is helping to shape the legal landscape by introducing a ‘new way’ for people to access the justice system with financial funding for litigation and arbitration. Litigation finance products are also available to Law Firms to enable them to take cases forward.
Litigation finance is also known as Litigation Funding, commercial legal finance, litigation financing and third party litigation funding.
Novo Modo are committed to working in a ‘new way’ to place cases for litigation financing regardless of your circumstances.
Litigation funders typically operate within discrete areas of the market. There is significant variation in the minimum investment that they will consider, the type of case they will fund and each provider will have their particular appetite for risk.
As a broker, whether you are an individual litigant, a corporate entity, an insolvency practitioner or a law firm we will help you source the most appropriate solution.
We will work to find a financing solution to enable you to bring your claim, acting as a single point of contact, working with you whatever your circumstances.
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“In matters of truth and justice there is no difference between large and small problems, for issues concerning the treatment of people are all the same”.
Albert Einstein
Novo Modo are committed to sourcing the most appropriate litigation financing solution for your particular circumstances. We are accessible as a single point of contact for individual litigants, sole traders, SMEs, PLCs, and Law Firms.
Finance is a dynamic space in constant evolution. An ever increasing, ever changing array of products and approaches to funding amongst a growing panel of lenders can make accessing the most appropriate product, with the most favourable terms for a specific case, or group of cases, time consuming and complex.
At Novo Modo we are able to analyse the differences between providers on your behalf and to present specific cases and circumstances to the most appropriate lender. As brokers, we are able to develop relationships with lenders which allow us the opportunity to understand where they operate in the market, where they are growing and diversifying to offer more lending options.
We will take the time to get to know you as a client whether you are an individual claimant, a solicitor, another legal professional or a representative of a commercial enterprise. Understanding your particular circumstances will allow us to present the right information to the right lender.
Because the litigation funders return is tied to the outcome of the case they are, understandably, incentivised to fund cases with a good prospect of success. They will also examine how able the opposing party will be to pay the damages where the claim is successful.
Should you not be able to access Litigation Finance for any reason we can talk to you about alternative financial solutions. This may allow cases to be brought where the legal team is confident about the likely success of the case for reasons that maybe don’t inspire the same level of confidence in the litigation funder. We may also be able to offer alternatives to portfolio lending allowing legal firms to borrow at lower cost whilst retaining control over how to spend the working capital.
As brokers, we offer services to clients in many commercial environments and for all aspects of business growth and development. We may be able to facilitate access to working capital from across a panel of over 150 lenders with a broader scope than traditionally taken by funders focussing solely on litigation finance products.
Litigation finance is a form of funding whereby a third party provides the financial resources required to pursue litigation or arbitration in return for a proportion of the proceeds of a successful claim.
The third-party funders share of the proceeds of a successful case is negotiated with the litigant at the outset. The return to the funder will be calculated as a % of the damages recovered, by multiples of the amount advanced or a combination of the two. The funder may also choose to charge interest on the amount provided throughout the investment period.
Litigation funding can be sourced at any point during the process however it is advisable to apply as early on in the process as possible to manage cost and to be reassured that your particular circumstances are suitable for funding.
ATE insurance can be purchased from and through funders to protect clients from the risks of adverse costs, own side costs and disbursement costs. This can be purchased as a stand alone package or as part of an overall funding solution.
ATE insurance has the specific function of insuring against the risk of having to pay the opponent's costs in the event of an unsuccessful claim
As with any insurance policy, the terms of an ATE policy will need to be carefully considered and scrutinised to understand coverage, exclusions and potential breaches of policy conditions.
Yes. Litigation funders will assess the merits of group cases and can provide options to meet this need.
We know it can be difficult to find the right support for legal finance. That's why we offer all clients a free consultation.
( Reforming Civil Litigation Funding and Costs in England and Wales. Implementation of Lord Justice Jackson’s Recommendations. The Government Response. Ministerial Foreword. The Rt Hon Kenneth Clarke. QC, MP. Lord Chancellor and Secretary of State for Justice, Jonathan Djanogly MP, Justice Minister, March 2011)
(US Supreme Court Justice, Hugo Black 1964)
(Albert Einstein)
(Martin Luther King Jnr)
Registered office: NOVO MODO LITIGATION FINANCE LTD.. 24 Castle Street, Chester, United Kingdom, CH1 2DS company Number 15780783
ICO Reference: ZB757135