Not exact matches
Some
claimants can not afford their own /
adverse cost risks; others have the financial capacity to do so, but choose to offset a part
of the risk to free up resources for use elsewhere.
They can also run the risk
of an
adverse costs ruling and protracted litigation in the knowledge that, even if the
claimant is able to commence the claim, their resources are likely to be finite and the pressure to agree to a settlement for less will therefore increase with time.
Funding must work to protect
claimants from the risk
of escalating
costs or
adverse results — and must ultimately facilitate the smoothest pursuit
of justice.
It was submitted by the receiving party that, regardless
of the lack
of advice on the Simmons uplift, the loss
of the 10 % increase in general damages which the
claimant would receive if funded publically was greatly outweighed by the protection from
adverse costs and the lack
of statutory charge offered by a CFA Lite.
Under the Code, litigation funders are required to give assurances to
claimants that, among other things, the litigation funder will not try to take control
of the litigation, the litigation funder has the money to pay for the
costs of the funded litigation and the litigation funder will not terminate funding absent a material
adverse development.
Costs — How much will the Claimant's costs turn out to be; what is the risk of over-run; how will the adverse costs risk be dealt
Costs — How much will the
Claimant's
costs turn out to be; what is the risk of over-run; how will the adverse costs risk be dealt
costs turn out to be; what is the risk
of over-run; how will the
adverse costs risk be dealt
costs risk be dealt with?
Further, the
claimants are not people that can afford risking everything against the possibility
of adverse costs.
The letter made two key points: first, that a public funding certificate provided a measure
of protection against
adverse costs and second, that once the case had been allocated to the fast track, the
claimant should seek public funding.