European law firm Fieldfisher has today launched its litigation funding service, FeeSolve.
Spearheaded by the firm’s sector-leading litigation and arbitration practice, FeeSolve is designed to give clients certainty in relation to costs and reduce the financial risks of bringing a claim, by offering a variety of alternative funding arrangements, most notably Damages Based Agreements (DBAs).
While commonplace in the US, DBAs have rarely been offered in the UK.
Under a DBA, fee earners will charge by reference to a fixed percentage of litigation damages, as opposed to the usual hourly rates.
This move places Fieldfisher firmly in the litigation funding marketplace.
In addition to DBAs, the FeeSolve portfolio comprises a sophisticated package of funding and insurance options including:
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Damages Based Agreements (DBA)
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Conditional Fee Arrangements (CFA)
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Third Party Funding (TPF)
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Insurance for Before and After the Event (BTE/ATE)
Although FeeSolve has been developed by Fieldfisher’s litigation and arbitration experts, who have daily first-hand experience of the way clients want to approach claims, the service is available across all the firm’s practice areas and interest in the different funding options on offer is already high.
In particular, Fieldfisher is seeing strong demand for litigation funding and insurance among clients involved in commercial disputes and international clients pursuing claims in UK courts.
Commenting on the launch of FeeSolve, Tony Lewis, dispute resolution partner at Fieldfisher, said:
“I am delighted to be formally launching our FeeSolve offer at a time when demand for transparency and certainty in legal costs is escalating rapidly.
“Litigation funding and insurance products are becoming mainstream in the UK legal sector and Fieldfisher has always been a pioneer in this area.
“It has always been a common misconception that litigation funding and insurance is reserved for those with an inability to pay.
“While litigation funding and insurance can assist such clients, it can also support other kinds of legal services user, including corporate clients, who are looking to share litigation risk and effectively manage their external legal budgets.
“FeeSolve is the result of years spent developing our structured fee arrangements and insurance products in-house, in response to the changing needs of the market, and I am pleased to be able to launch a fully packaged offer today.”
For more information on Fieldfisher’s FeeSolve service, please visit the FeeSolve pages on the Fieldfisher website.
About Fieldfisher
Fieldfisher is a European law firm with market leading practices in many of the world's most dynamic sectors. We are an exciting, forward-thinking organisation with a particular focus on energy & natural resources, technology, finance & financial services, life sciences and media.
Our network has more than 1,450 people working across 24 offices providing highly commercial advice based on an in-depth understanding of our clients' needs.
We operate across our offices in Amsterdam, Barcelona, Beijing, Belfast, Birmingham, Bologna, Brussels, Dublin, Düsseldorf, Frankfurt, Guangzhou, Hamburg, London, Luxembourg, Madrid, Manchester, Milan, Munich, Paris, Rome, Shanghai, Turin, Venice and Silicon Valley.
Fieldfisher was named as a top 20 firm by the FT Innovative Lawyers Awards 2018.