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Litigation Funding Handbook

Litigation Funding Handbook

Rocco Pirozzolo
2014
T4 310 pages · about 5h 10m to read OL20702940Wgoodreads

Short procedural handbook for funded claims in England.

Summary

The reference has not verified this book in detail; the summary states only what the title, author and subject establish.

Rocco Pirozzolo works in after-the-event legal expenses insurance, and this short handbook, published by the Law Society of England and Wales, is a practical guide for solicitors on funding litigation for clients who cannot pay costs as they arise.

It covers the range of funding options available in English practice: conditional fee agreements, damages-based agreements, after-the-event insurance, third-party funding by commercial funders, and the interaction of each with the costs rules following the Jackson reforms implemented in 2013. It addresses the professional duties a solicitor owes when advising on funding, including the obligation to explain the options and the consequences.

The reference has not verified this book in detail, and this entry describes its established scope. It is jurisdiction-specific to England and Wales and predates significant later developments including the PACCAR decision on damages-based agreements and the growth of the group litigation market.

Key takeaways 5

  1. English litigation funding options each allocate costs risk differently between client, solicitor, insurer and funder.
  2. Conditional fee agreements transfer risk to the solicitor, who is compensated by an uplift on success.
  3. After-the-event insurance covers adverse costs exposure, which is the risk that deters most claimants in a loser-pays jurisdiction.
  4. The Jackson reforms ended recoverability of success fees and insurance premiums from the losing party, which changed the economics of every funding option.
  5. Solicitors owe a professional duty to explain the available funding options, and failing to do so is itself a source of liability.

Who should read it

English litigation solicitors and those funding claims in that jurisdiction, with the caveat that this entry is not verified in detail and predates major changes.

Where it sits in the reference 2

Assets
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