A practitioner’s guide to Litigation Funding

A practitioner’s guide to Litigation Funding

The last year has been a challenging time for many and has undoubtedly had an impact on personal relationships. A host of personal and financial challenges prevail and can inevitably lead to family breakdowns and a rise in the need for family law support.

Since the pandemic hit the Office for National Statistics released figures showing an 18.4% rise in divorce rate.

Today’s Family Lawyer reported:

“Some families are dealing with the financial pressures of reduced hours, furlough and redundancies. The implications of being confined to our homes has also brought to a head those couples that were already in trouble.”

With there being so much financial uncertainty, it is likely more and more people will be seeking support from legal advisors.

Over the last decade litigation funding has grown rapidly in the UK. There are many businesses holding themselves out as providers of capital to back litigation claims, with many guides on hand for consumers, yet none for practitioners.

Seeing a gap in the market for guidance around litigation funding, Ampla Finance have stepped in and are launching the first in-depth guide. The piece is specifically designed for the family lawyer in a bid to make their working life that little bit easier. The guide which has been produced by family law veteran, Nigel Shepard who worked in conjunction with Simon Popplewell, Barrister at Gough Square Chambers highlights key issues which can arise and how these issues might be addressed.

Louise Hall, Commercial Director cites:

“In our conversations with family practitioner member firms and industry peers, it quickly became evident that, whilst the volume of guidance around litigation funding at consumer level is significant, there is a surprising absence of profession-facing advice currently available. As such we believe there is a real gap in the market for clear advice for lawyers, which we hope to fill with this guidance.”

Family law practitioners are aware of how difficult it can be to discuss funding around sensitive cases and it is important for practitioners to be able to relay accurate information, in line with key regulatory framework. The guide will prove useful for steering and preparing solicitors for any difficult conversations that may lie ahead, providing a clear structure of how to handle these complexities.

Commenting on the launch, Nigel Shepard, who produced the guide said:

“I know from my many years as a practitioner that when it comes to discussing the funding options with clients it can be difficult to provide the information and help clients’ needs, whilst at the same time remaining in step with regulatory obligations. This guidance flags up the key issues and through practical examples helps practitioners to develop a consistent and client focused approach.”

The guide is now available to all family law practitioners and their compliance teams, with the accompanying in-depth advice from Simon Popplewell around the necessary key regulatory framework. You can download the guide here.

For more information about the guide or funding options from Ampla Finance please contact Scott Willis, scott.willis@amplafinance.co.uk

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