Posted by Christopher Deadman, sales director at Litigation Futures sponsor Augusta Ventures
This is my valedictory blog for 2014. I am grateful to my loyal reader for enduring the polluted flushings of my diseased mind. It has been fun to write and I hope I have given him/her an insight into the life of a suave, metropolitan sophisticate like what I am.
Before I bid you happy holidays, I would like to share with you my two wishes for Christmas. For the avoidance of doubt, these relate to litigation finance and not my personal desires – which include a solid gold house, Sandra Bullock, rocket shoes and the power to become invisible at will.
My first wish is that lawyers finally understand how litigation finance operates and how it can help to build a litigation practice in these increasingly competitive times. I have already reviewed the Law Society’s Litigation Funding Handbook and found it to be worth many times its cover price.
Of equal utility is Third Party Funding by Burford’s Nick Rowles-Davies, although I have yet to receive my promised reviewer’s copy. I can only presume that its failure to arrive is due to the fact that my copy is being drafted by hand, like one of those mediaeval illuminated manuscripts by Sibilla Von Bondorf depicting the life of St Francis. Either that or Nick has forgotten to post me a copy.
The serious point I am making, however, is that good-quality guidance on external funding is readily available so there really is no excuse for not being familiar with what is a pretty straightforward concept.
My second and final wish is for there to be a greater number of cases financed in 2015. I have no doubt that we are seeing but a small percentage of the total pool of eligible cases. I cannot help thinking that there are many decent cases lurking in law firms across the country that would benefit from external finance.
More than that, I bet there are many meritorious cases that never get as far as a solicitor because of the claimant’s perception that litigation is simply too expensive and uncertain.
These are the types of cases that I will be working hard to identify in 2015 – success in which will render me irresistible to Ms Bullock. And on that hopelessly optimistic note, I wish you and yours a happy Christmas and a healthy and prosperous New Year.