Posted by Chris Deadman, director of operations at Litigation Futures Associate Invicta Capital Funding
This is my valedictory blog for 2017. I am grateful to my loyal reader for enduring the polluted flushings of my diseased mind over the past six months. It has been fun to write and I hope that I have given the reader an insight into the world of a litigation flaneur.
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, 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 them a successful and profitable practice.
Complicated and time-consuming application processes have been a barrier to accessing external finance in the past but things are changing.
Some completed third-party funding application forms that I have seen resemble one of those fabulously intricate mediaeval illuminated manuscripts by Sibilla Von Bondorf depicting the life of St Francis. But there are funders out there who adopt a far more pragmatic approach and simply want to deploy their cash quickly and cost-effectively into suitable matters.
These financiers are a welcome departure from the cumbersome and uncertain processes which have characterised the industry in the past.
My second and final wish is for there to be a greater number of cases financed in 2018. 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 matters 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 and my competitors will be working hard to identify in 2018. And on that optimistic note, I wish you and yours a happy Christmas and a healthy and prosperous New Year.