Litigation support & funding
We provide the following services:
Litigation funding
Litigation is often expensive and inherently risky resulting in good claims not being pursued and in the case of an insolvent company’s creditors losing the opportunity to redeem some cash from their losses. Smith & Williamson’s offer of litigation funding can resolve this issue by taking on the risk and covering the cost of litigation.
For more detailed information download the litigation and funding flyer.
Smith & Williamson will fund legal claims in return for a percentage of the proceeds of the action allowing stakeholders to share in success of any action which would otherwise not have been brought. Such funding will be of keen interest to lawyers, creditors and professional advisors.
The kind of claims we will pursue
We will consider any claims vested in an insolvent company at the date of insolvency or arising as from statute.
- claims against directors for breach of fiduciary duties
- wrongful trading
- professional negligence
- tracing claims to pursue property belonging to a company
- intellectual property disputes
- contractual debts
We are also willing to consider funding any litigation, outside the context of insolvency, depending on the merits of the action and the extent of the control which we retain.
How it works
We will assess the merits of the claim with our advisors and will then agree in advance with the creditors and/or stakeholders the percentage of the proceeds of the claim we will receive. The rates for our recoveries are competitive and fit within acknowledged market rates. The recovery percentage increases over time to reflect the increase in fees and risk.
In addition we will consider accepting a joint appointment with an existing office holder and agree to share the agreed percentage.
We will look to retain the lawyers and counsel previously instructed wherever possible.
Funding process
Lawyers
To accommodate the risk involved we will pay the lawyers 70% of their standard hourly rate, with the remaining 30% payable upon successful conclusion of the matter, together with the uplift agreed between the parties at the time the case is taken on. If the case is unsuccessful the solicitor will receive 70% of their standard rate, billed and paid monthly or quarterly throughout the conduct of the matter.
Counsel
Counsel will be expected to work on a similar basis with an agreed uplift once the final bill is issued.
Expert witness
Any expert witness would be paid in full as an expense.
Adverse costs and security
We will cover any requirement for adverse costs including any premiums and security for costs when required.
Our criteria
For a claim to qualify as likely for funding we need to believe that:
- it must have a 70% or more chance of success
- the defendant can pay any settlement
- all fees are proportionate to the claim
- the claim itself is over £250,000
Maintenance and champerty
This is not an assignment or third party funding and so cannot be attacked as unlawful. Unlike third party funding there is no risk that the funder will renege upon the commitments made.
Benefit summary
Our litigation funding is a risk-free alternative to the cost implications of creditor-funded litigation. We use our capital and experience to pursue claims and then share in the proceeds. This means that good cases with little or no funding can still be pursued to the benefit of all stakeholders.
Forensic services
Our distinctive range of expertise and extensive links to the legal profession enable us to provide forensic accounting services in numerous disciplines.
Our directors
Our directors are acknowledged leaders in their own fields and combine this expertise with an understanding of the legal process and experience of acting as Expert Witnesses.
Our forensic accounting services are finely tuned to meet the needs of those who instruct experts. Our directors are closely involved in cases and deliver expert evidence which is tailored to the needs of the parties.
Our experience
Our experts are equally experienced in acting for claimants, defendants and as Single Joint Experts. In criminal cases, we act for the prosecution and defence. We undertake assignments throughout the UK and internationally.
We also offer Law Society and ILEX accredited training to the legal profession on a range of subjects including in-house seminars.
Asset tracing and recovery
Smith & Williamson have brought together a wide range of expertise to offer a comprehensive investigation service.
Our services in respect of the investigations we are instructed on include:
Fraud investigations
If your organisation has been the victim of a fraud it is essential to establish quickly what has gone wrong and to recover misappropriated assets.
Our investigation team has extensive experience in undertaking large and complex investigations. We help organisations investigate suspicions vigorously, assist management to evaluate the situation and provide expert evidence for you to determine how to proceed with the investigation.
Tax/VAT investigations
In respect of tax/VAT investigations we provide expert representation and, if required, will manage the investigation. We identify and address the main issues and ensure a conclusion is reached which enables you to continue to concentrate your valuable resources on your business and/or your home life.
By combining our knowledge of tax law and inland revenue procedures whilst managing the relationship with the particular Inspector of Taxes concerned, we bring investigations to a speedy conclusion, whilst achieving the best possible settlement.
Confiscation and restraint
The Proceeds of Crime Act 2002 marks a renewed determination by the UK government to confiscate the assets of those suspected of being guilty of criminal wrongdoing.
We specialise in financial investigations resulting from restraint and confiscation proceedings and provide experienced witnesses for both criminal and civil proceedings.
Contact us
For more information contact a member of the team.
