In most cases, our finance is non-recourse. This means that if the case loses, we lose our investment and are owed nothing.

This is a real risk in litigation funding. We make sure that we have a robust view on potential settlement outcomes and trial outcomes (as well as assessing recovery risk) before we invest. The short point is that if the recovery is less than we have invested in the case, then the fund makes a loss. As the finance is non-recourse, the funded claimant does not need to cover the shortfall.

Litigation funders in England and Wales are not able to control the case. When it comes to settlement strategy, to the extent that the lawyers and counsel for the claimant recommend making or accepting a settlement offer but the claimant refuses, then there is a determination by an independent barrister as to the appropriate course of action. Reputable funders will abide by the Code of Conduct emanated by the ALF which limits the control a funder can have and preserves the primacy of the lawyer-client relationship.

In some cases, yes. It depends on how much the case will cost to get to a successful recovery and whether adding in historic costs to the committed capital strains the economic viability of the case or not. In high value cases, this should not be a problem.

In short, Balance pays the costs of litigation (the solicitors, barristers, experts, disbursements, and adverse costs insurance premiums) as they are incurred on a monthly basis.

Balance prides itself on its market-leading speed of decision-making. If the funding application is of a high quality and answers our key questions, we can move very quickly, given our Investment Committee meets on a weekly basis. We have issued terms within one week of receiving an application, followed by a short period to execute the litigation funding documentation and confirm adverse costs insurance.