LLS provides flexible funding packages, tailored to the unique circumstances of each individual claim.
Claim funding
Claim funding involves LLS assuming some or all of the costs of running a claim, including lawyers’ fees, barristers’ fees, and other costs such as expert and court costs. LLS pays those costs for you as the case progresses, and if there is a successful settlement or judgment, would recover the costs it has paid plus a commission from the settlement or judgment amount. If the case does not result in a recovery, you would not be required to reimburse LLS for its costs (i.e. it is ‘non-recourse’ financing).
LLS provides funding of this kind for claims being run in Courts in Australia and in New Zealand, as well as for arbitrations and other forms of alternative dispute resolution.
Disbursement funding
For cases where claimants may only require partial funding, one of the options LLS can provide is disbursement funding. This involves LLS funding just the out-of-pocket expenses (such as barristers’ fees, expert costs and court fees), with the solicitors’ fees dealt with separately.
Due diligence funding
In appropriate cases, LLS can provide ‘seed funding’ or ‘due diligence funding’ to further investigate potentially meritorious claims. Common examples involve obtaining expert reports supporting the basis for a claim, advices from counsel on prospects, or conducting public examinations or other preliminary Court processes.
Acquisition of claims
Under the Insolvency Practice Schedule (Corporations), external administrators are permitted to assign certain rights to sue conferred on them by the Corporations Act. LLS can purchase those claims, providing an upfront payment and a certain outcome to creditors, with LLS assuming the costs and risks of running the claim thereafter.
Book funding
Where claimants or law firms have multiple cases for which funding is sought, LLS can provide funding on a ‘book’ basis where it is more economical to do so.
Flexible pricing structures
LLS takes a flexible approach to its pricing structures, tailoring its approach to the individual circumstances of each case.
The most common structures used are commissions based on the following:
Percentage
A percentage of any settlement or judgment amount received.
Multiple
A multiple of the amount of funding LLS provides.
Hybrid
Or a hybrid model between the two.
Tiered
Where relevant, tiered pricing models can also be adopted based on how long the claim takes to resolve, the amount received, or other milestones.
Should you have a particular preference, our investment management team will be more than willing to discuss with you when reviewing your claim.
