The Harbour Funds finances part, or all, of the costs of commercial litigation or arbitration. Harbour pays the costs annotated with pursuing claims as they fall due. Typically included are solicitor’s costs, but also Counsel’s fees, expert’s costs and the institutional and arbitration panel fees in arbitrations.
In the event of a win, the Harbour Funds receive its pre-agreed share of the proceeds which varies by claim, duration and budget size. In principle, neither the claimant nor the law firm need to refund Harbour for the costs paid in the unfortunate event the case is lost.
Using third party funding offers claimants the opportunity to pursue meritorious claims they might otherwise not be able to pursue. For corporates, it is a means to hedge risk; free up working capital for other purposes or protect their stakeholders.