Adverse Costs Risk
Many jurisdictions follow the English model of costs in litigation, whereby the loser pays some or all of the winner's legal costs. So-called 'adverse costs orders' are becoming increasingly prevalent in international arbitration.
Claimants must therefore consider not only how to fund their own costs, they must provide for the risk that their litigation or arbitration will be unsuccessful and that they will be ordered to pay the defendant's costs. Particularly in high value cases, this contingent risk is significant.
Woodsford Litigation Funding is prepared to assume that risk, either as part of our classic access-to-justice or hedging products (see above), or as a self-standing offering. We can provide:
i. a contractual indemnity (which we may back with an insurance product) that Woodsford will pay the defendant's costs in the event that the claim is unsuccessful;
ii. security for costs; and/or
iii. funding for an after-the-event (ATE) insurance premium.
We do not charge an upfront fee for our adverse costs products. As with our classic funding, our return is conditional on success
For more information contact: Jonathan Barnes