Litigation funding has grown to be an increasingly common feature of dispute resolution, with the market growing to a global presence. Between 2016 and 2017, funders investment in UK litigation reportedly rose by more than 25% as both interest in the market and the number of funding options has grown.
Litigation funding is also often presented as giving people better access to justice, enabling cases to go to court that would otherwise be unaffordable for the complainants. With cuts to other funding such as legal aid, litigation funding has become an important tool for complainants.
Litigation funding is used by both individuals seeking access to justice, and larger corporations seeking litigation against other companies for a range of matters, including unpaid bills, claims against oil groups, and the effects of nationalisation and bankruptcy.
To date, the UK has been one of the most active jurisdictions for funders – however, the UK is not alone in seeing the introduction and uptake of litigation funding. Positive legislative changes and growing acceptance of funding have occurred in Hong Kong and Singapore, and there are ongoing consultations and legislative developments in Jersey, Cayman and Dubai as more jurisdictions begin to see the benefits of allowing litigation funding.
The ready use and availability of funding and the increased sophistication of the market mean that funding is now an established part of litigation proceedings – ultimately increasing access to justice for more and more people across the world. As the market continues to grow, opportunities for investment into litigation funding will also likely increase for customers aiming to take advantage of this new avenue for investment.
To start your litigation funding investment journey with Just, follow these simple steps: