Launched in 2007, we were the first such broker of its kind. We have always focused purely on commercial large scale litigation and arbitration, nothing else.
Looking forward we saw a market that would grow fast. From a modest start, with 2 funders on our panel, we now deal with in excess of 15 funders and have placed over £500 million of damages in the market, with case sizes ranging from £1.5 million in damages to multi-million pound awards.
Our aim is to focus on you the client by gaining a deep understanding of your needs, your objectives and your case requirements. We strive to provide you with excellent, responsive and innovative solutions.
We combine our technical expertise gained from years of working within the commercial sector, together by applying our understanding of the dynamics of the market place.
Importantly, you avoid being treated as just another application form or processed enquiry.
Save you time
With our knowledge of the market; its genuine and un-genuine players, funders' preferences and procedures, different charging structures, negotiating, plus an independent service with no conflicts.
Save you money
No funder charges the same and whilst some may lead you to believe otherwise, it is never set in stone. Maxima encourage pricing to be fair, transparent and appropriate.
We work with you to seamlessly structure a suitable funding solution, that meets the requirements of your case, by analysing the different funding vehicles and providers within the market place.
Our aim is to truly understand what is needed to support the case and the key behind the litigation as well as the financial demands and client’s objectives. We explore, encourage, create and facilitate to develop intelligent and time saving solutions with you.
Our approach is personal and interactive, not the standard hackneyed business transaction. Your case is real and important and we use highly experienced professionals to work with you to make it possible. We understand that by the time our clients meet us, they have already been party to difficult circumstances and often accumulating financial losses.
Our success has been built by developing long-standing trusted relationships with our clients and suppliers in a niche market place which we strive to always improve upon.
Litigation funding covers the costs of running your litigation against defendants, providing certainty that the costs of litigation will be met until your case is concluded. A funder can fund the legal fees, experts’ fees, disbursements and tactical costs of running a successful litigation, on behalf of a litigant or their acting solicitor. There should be no liability on the part of a litigant, to repay the funder any capital deployed, until the case has successfully concluded.
If a case is unsuccessful, the funder bears the financial loss. That is their risk and how they price their investment. The client should always retain the major part of an award and no funder should ever take a success fee that provides otherwise.
Where a client is facing a ‘David v Goliath’ battle, litigation funding can provide a level playing field whereby it limits the opponents ability to force the client into an early settlement or to run out of money, which could damage the client from being able to pursue their claim further.
For corporate businesses, litigation funding and insurance provides an off-balance sheet solution, that can relieve pressure on legal spending. Legal fees can often increase as the litigation progresses and this makes it very difficult for Financial Directors and controllers to budget accordingly.
How much do funders charge?
If a case is successful, the funder will take their invested capital back plus a success fee. The success fee is often, not always, based on a multiple of the funder’s investment or a fixed percentage of damages. This can vary from one funder to the next and is often based on the overall risk assessment and variables of the case presented. These returns are paid from the damages that the losing opponent is ordered to pay.
What makes a case fundable?
Funders will look for cases with good merits which requires the case to be strong in terms of liability, causation and a financial settlement arising. The Funders will look at how long the case has to run to the final hearing and they will also look to see how the case is currently advancing. The funders would require a written opinion on the merits of your case to assess this fully.
Costs v Proportionality
Funders will require a detailed Costs Budget so they may assess the total costs of running your case through to trial or final hearing. They will evaluate the overall costs of investing in your case as well as assessing a realistic value of where the case may actually settle at. They are looking to see that the costs are proportionate to the value of the case. Some funders will expect your legal representatives to work on some form of conditional fee agreement and others will not insist upon this.
In our experience funders are looking to see if the defendant(s) have the ability to satisfy the damages being claimed, coupled with their asset position and if those assets are easily traceable and accessible. If the defendants have insurance cover then this is a more attractive consideration for the funders.
It is important with all funders that your legal team have the relevant experience in the area of law to which your case relates. Equally it is important that where you have Counsel instructed to act that they also have the relevant experience. Funders are not looking for the cheapest representation but the right expertise. If you do not have a Solicitor at present then speak to our team who may be able to recommend some firms to you.
Adverse Costs Insurance
It is a requirement of most funders for there to be adverse costs insurance in place (ATE) in order for funding to proceed. This is because the funders do not wish to be liable for the adverse costs award should you lose your case. (Please refer to our section on ATE for more information as to this type of insurance cover). The funders will however, look to include within their overall funding commitment the cost of this insurance cover. Maxima can help to source this cover for you, as it will be part of our overall risk assessment of your case requirements.
Your case does not exist in a vacuum, so we must understand the dynamics of your case to properly assess its requirements and any obstacles, so that we can deliver the right solution.
We have face-to-face time with you, to throughly discuss the options and variables open to you.
No two funders or insurers offer the same price, facilities or support. No two cases need the exact same solution. Maxima treats each case as an individual. We work with you to create and deliver the best solution.2. CLEAR STRATEGY
We agree and lay out a clear way forward, for us to meet your funding objectives and your case requirements.
We work hand in hand with you, setting out clear steps to bring the solutions from the market to your case quickly and efficiently.3. DEFINE AND EXECUTE
We take the ordinary and make it special, personalised, unique, and extraordinary. We aim to provide a personal service that our clients would never have experienced through our competitors doors.
Building on our philosophy, we embed all we do with core principles:
Tuesday 02 July 2019
WHAT ARE THE RISKS NOW EXPOSED TO FUNDERS AND CLIENTS?In the recent High Court case Davey v Money & Anor, the judge decided that the Arkin cap did not apply and the funder (ChapelGate) should be fully liable for the successful party’s adverse costs since the date of the funding agreement.The Arkin Cap was historically introduced in the case of Arkin v Borchard Lines Ltd where the opponents sought an order for the adverse costs liability, which was successful but capped at the amount of the funder’s investment.It is not surprising that this change of decision has come about, given that there have been other cases in recent times where there...