In an exciting first for the litigation funding industry, Vannin Capital, the market leading dispute resolution funder, is delighted to announce the launch of its bi-annual research reports which will aim to provide insights into the high growth area of third party litigation funding (TPLF) in the UK.
Combining analysis of the latest developments and trends in commercial litigation and international arbitration with commentary from leading industry experts, the research will help to illuminate the factors driving the growth of the TPLF industry as well as address the concerns and issues which are commonly raised.
In the results of the initial survey* published today, 73% of lawyers asked said that they would consider using TPLF. Against a backdrop of rising legal costs, with over 64% of respondents saying that their litigation spend has increased or increased significantly over the past 12 months, it becomes clear that TPLF is an increasingly attractive option. In fact, 70% of respondents saw the biggest positive of TPLF as the ability to fund claims that they would not normally be able to pursue due to financial constraints.
The initial survey also demonstrates how perceptions of TPLF are maturing with the market, in particular the attractions to large corporates who want to de-risk litigation. Anthony Maton at Hausfeld sums it up: “Clients of ours such as Deutsche Bahn say third party funding is a sensible way of getting round litigation risk… typically when you get away from the GC and talk to the CFO or Finance Director, they love it”.
And despite the biggest concern regarding TPLF being named as “loss of control over the litigation process”, accounting for 83% of the vote, Neil Mirchandani, a partner at Hogan Lovells also voiced the emerging view that “concerns over loss of control are overblown”.
The first full report, entitled Funding in Focus, will be published on 10 April 2015 and to celebrate the launch of the research series, Vannin Capital today has published a summary of current TPLF market perceptions and expectations which includes:
Matthew Cox, Director at Vannin Capital, commented:
“Litigation Funding is seeing significant demand and Vannin Capital is at the forefront of this industry expansion. So we thought it fitting that we launch this research to explain why more and more claimants and lawyers are choosing litigation funding and reaping the rewards.
Over the course of the next two years, we hope that this research will become the definitive guide to our sector and show just what a market force litigation funding has become.”
For further details, or to sign up to receive the report, please visit http://www.legalweek.com/legal-week/special/2380700/commercial-disputes-in-focus-the-future-of-funding
* The initial survey, conducted by Legal Week, polled over 40 senior figures across both private practice and in-house lawyers at the Legal Week Corporate Litigation and Arbitration Forum in November 2014.
For more information on Vannin Capital, please contact: Meika Aysal, Marketing at Vannin Capital, T: +44 207 099 5180, E: firstname.lastname@example.org