GETTING FUNDING


Discussing A Case With Us

  • The first step, if you have a claim, is to contact us by email or telephone, or instead please ask your lawyer or accountant to do so on your behalf.
  • You can expect an initial indication with regard to funding of your claim within two working days.


Establishing A Case’s Viability

  • Should it be necessary for us to instruct an outside legal adviser or other expert to help us assess the merits of your case, we will do so at our cost.
  • We will ask the lawyers conducting your case to estimate the likely cost of proceeding to trial.
  • We will wish to establish that the intended defendant has the means to pay the sum being claimed and that the likely costs of funding are consistent with the size of the claim.
  • In some insolvency cases, we will consider taking an assignment of the claim from insolvency practitioners and conduct the litigation in our name, using the legal team selected by the insolvency practitioner.
  • If the case is seen as viable then Redress Solutions will be happy to fund or, in insolvency cases, take an assignment of, your claim no matter how large or complex.


Formalising Our Relationship

  • Once we are satisfied that the case is viable, we will issue an offer to fund the case or, in certain insolvency cases, to take an assignment of the claim.
  • Our offer will include the basis of calculating our share of funds recovered from the ensuing action upon success.
  • Once our offer is agreed, we will ask you to sign an agreement, which sets out the terms of the offer as well as our general terms and conditions.
  • The entire process is carried out with the least possible bureaucracy. Our aim is to have clear and simple lines of communication, not to tie you up in paperwork.
  • You will be dealing directly with our senior team, all of whom are highly experienced in litigation funding.


Conducting The Case

  • Where we provide funding to enable a claim to be litigated or arbitrated, it is the responsibility of the claimant’s own legal team to handle the proceedings.
  • In insolvency cases where we take an assignment of the claim, we will instruct the solicitors nominated by the insolvency practitioner to conduct the case.


Accounting For The Proceeds

  • In any claim which we have funded, the claimant’s law firm is bound by our agreement to bank any sum recovered in a trust account.
  • All costs incurred are first reimbursed from the gross proceeds, after which Redress Solutions will be paid its share. These costs will not include the cost of assessing your case.
  • When a successful outcome is achieved in a case litigated by Redress Solutions under an assignment from an insolvency practitioner, all costs incurred by Redress Solutions are first reimbursed from the gross proceeds. The insolvency practitioner is then remitted that portion of the net proceeds pre-established in our agreement, with Redress Solutions retaining the balance.