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News
DLA Piper joins third-party litigation financing market
updated on 21 August 2020
After setting up a £150 million funding pot, DLA Piper has become the biggest City law firm to join the third-party litigation financing market.
The firm has entered a non-exclusive agreement with Litigation Capital Management and Aldersgate Funding Limited. In light of the UK’s recession, the £150 million funding pot will be accessible to clients that want to remove the cost of litigation and arbitration off their balance sheets in a bid to reduce expenditure.
The funding scheme will cover the full cost of bringing a claim, plus insurance against losing, according to the City firm.
Global Co-CEO Simon Levin said: “We are working at pace to develop a stream of bold and innovative products and services as part of our enhanced legal offering Law&, that will allow clients to seize opportunities. As part of this mission, our collaboration with Aldersgate Funding and LCM gives clients access to capital to fund claims with a speed, ease and at a quantum hitherto unheard of and represents a sea change in the traditional approach to litigation funding.”
