Adverse costs orders are increasingly prevalent in international litigation, with many jurisdictions following the English model whereby the loser pays some or all of the winner’s legal costs.
Claimants must therefore consider how to fund not only their own costs, but also those of the defendant in the event that their litigation is unsuccessful. This contingent risk is significant, particularly in high value cases.
At Woodsford we can assume that risk for you, either as part of our case funding solution, or as a self-standing finance solution. This may include a contractual indemnity that we pay the defendant’s cost in the event of an unsuccessful claim, security for costs, or funding for an after-the-event (ATE) insurance premium.
We are also able to provide finance solutions for orders stating that a party’s costs are to be paid in an amount ‘to be assessed, if not agreed’. Orders such as this can be considered an asset of variable amount and timing, and we are able to monetise that asset, effectively accelerating payment to the litigant or the law firm.
As with case funding, the return from our adverse cost solutions is conditional on success, meaning we do not charge any upfront fees.
For more information contact: Mitesh Modha