Funder LionFish Litigation Finance and City law firm Rosenblatt – both part of AIM-listed RBG Holdings – have made four key litigation funding documents publicly available.
It forms part of a push to improve transparency in the market and encourage standardisation across the market.
LionFish is part of a group set up last year by the law firm Brown Rudnick to develop model funding documents.
It has independently made available for download from its website a litigation funding agreement, a priorities deed, an assignment deed and a charge over proceeds.
LionFish said they created “a fair and balanced transactional framework within which the scope remains for the required adaption and adjustments to meet the nuances of each deal”.
Managing director Tets Ishikawa said the move was separate to the Brown Rudnick work, which LionFish strongly supports, but if it encouraged other funders to follow suit, the industry could reach the goal of standardised documentation more quickly.
He explained: “We have been vocal in trying to shift the industry focus towards trade practices and frameworks that leverage the experience of other financial markets, thereby ensuring the industry is set up for continued growth and success into the future.
“We humbly acknowledge that our documentation may not become the market standard but we need to see greater impetus and drive to achieve standardisation in our trade practices,
like the other established financial markets that we should be benchmarking ourselves to.
“If this expedites the process of reaching that goal, then this release would have achieved its key objective.”
Barry Roche, managing director of Rosenblatt, said: “We have observed continued growth in interest from institutional and other investors into litigation funding, and our business model, where all departments work closely together to improve the end offering to clients, has been hugely valuable in producing the documentation suite that LionFish transacts on.”