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Commercial Third party Litigation Funding

Allianz ProzessFinanz GmbH. Commercial Third party Litigation Funding. London, 22 January 2008. Allianz ProzessFinanz GmbH. Litigation Funding is. ... not insurance . ... not banking . … investing in claims, and trying to generate the best possible outcome for the client.

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Commercial Third party Litigation Funding

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  1. Allianz ProzessFinanz GmbH Commercial Third party Litigation Funding London, 22 January 2008

  2. Allianz ProzessFinanz GmbH Litigation Funding is ... not insurance ... not banking … investing in claims, and trying to generate the best possible outcome for the client.

  3. Particuliarities of the UK funding market • The legal system is very efficient • Proceedings are extremely expensive • Public policy issues

  4. Efficiency Case Management Conferences: useful tool Average duration of 1 – 2 years to judgement Appeal proceedings are even quicker (6 – 12 months)‏ Use of mediation increases probability of early settlement Trial costs cause last minute settlements

  5. Costs We estimate the costs to be 5-10 times higher in the UK than in Germany, Switzerland and Austria, due to: Duplication of costs (solicitors/barristers, party-appointed experts)‏ Disclosure Interlocutory applications

  6. Champerty and maintenance Political backing to reduce restrictions Less involvement by the funder Regulation may be on the way

  7. Germany, Switzerland, Austria Slow Inexpensive Set-fee regime (simple costs)‏ Suitable for small claims as well Inefficient (step by step)‏ No need Suitability of proceedings for funding • UK • Fast • Expensive • Complicated costs (assessment) • Suitable for high value cases • Efficient (CMC) • Adaptable/flexible (ATE, CFA)

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