3P Funding…. November 19, 2009
Posted by Richard Moorhead in : Costs, no win no fee , trackbackThe Lawyer reports a new entrant into the market for third party funding, interesting because its reportedly not confining itself to higher value cases.
Claimants will be asked to pay a flat fee together with a daily interest rate, which will be halted on repayment. The story doesn’t specify what the interest is payable on: presumably costs incurred or the costs ceiling. Its not immediately clear how the former will increase certainty or the latter not be a major disincentive to clients on costs grounds, but the detail needs devilling….
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