The Bar ~Third party funding: a necessity or ‘nice to have’?

Looking towards 2017, corporate clients face an even more uncertain financial future with continued pressure on legal budgets. Law firms commonly speak of their clients demanding year on year decreases in external legal spend. Barristers’ remuneration has not been immune to these trends.

Third party funding, once the domain of the insolvent or indigent claimant, is now used by corporates and financial institutions to control legal budgets and lay off the risk associated with the cost of large scale disputes. In our conversations with In-house Counsel, it becomes clear they expect the litigation community to be better versed in the use of third party funding.

In this increasingly competitive legal market, the barrister approached us to help with a feature on funding. In ‘Third party funding: a necessity or nice to have?’, Lucy Pert sets out the principles, looks at case law and offers useful guidance for members of the Bar.

In light of Harbour’s upcoming 10th anniversary, the barrister also talked to Harbour’s Head of Litigation, Susan Dunn, who starts the conversation by explaining what a converted carpet factory and Harbour have in common.

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