Appeal and Enforcement Funding
A successful court judgment or arbitral award is often not the end of the litigation or arbitration process (with all of the costs and risks inherent therein), rather it can be a staging post along the way to successful recovery. Annulment or other types of appeal process are common, and contentious (and expensive) enforcement proceedings are often required. A litigant who has budgeted, or been funded, through to a successful judgment may require additional funding to get through the annulment and/or enforcement stages to ultimate recovery. At Woodsford, we are prepared to fund those late stages.
By way of example, for a claim that is post-trial, but pre-award, we would be happy to consider the following type of funding:
Woodsford commits to provide funding to the claimant in 3 tranches.
Tranche 1 to be disbursed within 14 days of a successful judgment or award.
Tranche 2 to be disbursed either: a. As a single payment following the first date after 120 days have passed since the successful Award when it can reasonably be confirmed that no appeal or annulment proceedings have been commenced. or b. In the event that appeal or annulment proceedings are commenced, in no less than five instalments, staged according to the estimated timetable for those proceedings, with a view to ensuring that the Claimant’s costs of the defence of the appeal or annulment proceedings are met.
Tranche 3 to be disbursed in the event that contentious enforcement proceedings become necessary, to meet the reasonable costs of such proceedings.
The above type of tranche funding provides a claimant in in the post-trial, pre-judgment period with certainty that it will have access to an immediate cash facility upon a successful judgment or award, with Woodsford taking on some of the risk in the potential annulment and/or enforcement proceedings.
For more information contact: Steven Friel