Yorkshire law firm Lupton Fawcett has launched a funding and risk-sharing initiative designed to help businesses and individuals gain access to justice for substantial claims.
Called ‘Passport’, the service helps clients to access funding options to meet some or all of the costs of bringing a claim, as well as insuring against the risks of losing the case and being ordered to pay the opponent’s costs.
The facility is led by Lupton Fawcett’s directors Nigel Broadbent and Simon Lockley, both of whom specialise in dispute management.
The initiative relates to commercial, financial and property claims with a minimum value of around £50,000.
Mr Lockley said: “We believe it is unfair that clients with good claims should be denied the opportunity to bring them just because the opposition may have deeper pockets, or because the clients have to commit cash flow to other parts of their businesses. ‘Passport’ can help to overcome these obstacles.
“We have therefore designed ‘Passport’ to make it easier for claimants who might otherwise never pursue the financial remedies they are entitled to. It will help clients gain access to justice without having to tie up their financial resources or bear all of the risk.”
Passport’ works by enabling Lupton Fawcett to create a tailored package of funding services and protections, from a variety of suppliers, to suit every eligible client’s particular circumstances. As ‘Passport’ involves the client sharing some or all of their risk, each application for support under the initiative will be subject to vetting.
This will involve an analysis not just of the strength of the claim, but also the opponent’s ability to pay damages and costs awarded in the client’s favour.
The facility is available from Lupton Fawcett’s offices in Leeds, York and Sheffield.