Typically, litigation conducted in the country is funded by individual litigants out of their personal finances. That said, some large-scale litigation in Bermuda is financed by third party funders.
As a self-governing British Overseas Territory, Bermuda’s legal system is based on the English legal system. Following the decision in Stiftung Salle Modulable and Rutli Stiftung v Butterfield Trust (Bermuda) Limited (2014) – concerning a litigation funding agreement with Harbour – there is clear authority that litigation funding agreements are permitted under Bermudian law.
Contingent or conditional fee agreements, however, are prohibited except in very few exceptional circumstances. There have been attempts to move away from this, but unsuccessfully so far.