Significant cases require substantial work to ensure that they are conducted properly. Therefore if a claimant does not have the resources to invest in the litigation (often because of the behaviour of the defendant) or if they simply wish to use their cash elsewhere, third party funding provides the cash to ensure that the case is properly resourced.
Third party funders need ATE Insurance to protect them from their own liability for adverse costs as a consequence of funding the litigation as well as that of the claimant themselves. Lakehouse are happy to work with funders to provide the necessary funding and ATE insurance which, in turn, enables the litigation to be funded.
Therefore if your firm is working with a client who requires funding, we will work with the chosen funder to provide the best solution. Alternatively we can introduce your firm and its clients to funders who we consider can provide the best results for the type of claim in which you are involved.
In the alternative, there are cases where claimants struggle to find the cash to pay for the expensive Court fees and expert witness reports, even though their solicitors are prepared to undertake the case on a “no win, no fee basis” or a damages based agreement.
Once again, we can introduce funders to you who are prepared to provide this type of financial assistance with a variety of solutions, including an interest only basis.
In the current litigation climate, there are many ways in which to fund a case to obtain access to the justice that the claim merits. We will work with you and your chosen funder or a funder we can introduce, to achieve the most efficient solution for your client.
Lakehouse underwrites on behalf of Axis Specialty Europe SE, part of the Axis insurance group, which is rated as A+ by both Standard & Poor’s and AM Best Rating Services.
The underwriting process is efficient and focuses on the key issues to provide the best insurance solution for the litigant swiftly.
Lakehouse underwrites on behalf of AXIS Specialty Europe SE, part of the AXIS insurance group, which is rated as A+ by both Standard & Poor’s and AM Best Rating Services.
Michael Lent, a solicitor was a commercial litigator for many years in private practice. He has spent the last decade involved in underwriting and funding commercial litigation and now leads the underwriting and policy administration for Lakehouse.