Podcast Location:
Download it here [file size: 36.6 MB]
Categories:
Costs & Funding
CPD Points:
Up to 1 point. details »

Due to the difference in guidelines between the SRA and the Bar Standards Board, CPD points are awarded differently for Solicitors, Barristers and Legal Executives:

Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Cost:
  • FREE
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This podcast aims to introduce listeners to third party funding as a means to allow a civil claim to be brought. It discusses the mechanics of the funder-claimant-lawyer relationship, the approach third parties take to backing litigation and what changes are in the air following Lord Justice Jackson’s Cost Review in 2010. It also addresses some of the key professional conduct issues practitioners should consider when advising on funding issues.

Outcomes:
After completing the course you will:
  • Understand what third party funding is and its role in civil litigation;
  • Understand what a third party funder stands to gain from funding litigation;
  • Understand what a third party funder will be looking for when assessing a claim;
  • Understand how the funder – solicitor – client relationship works and the professional obligations on solicitors advising on funding issues;
  • Understand the relationship third party funding has to other risk transfer solutions such as ATE or CFAs;
  • Understand how the third party funding market is regulated;
  • Understand how third party funding is likely to be affected by the Jackson reforms to costs in civil litigation as well as the introduction of new business structures in the legal sector.
Level:
General Interest Difficulty: 2 of 5
Classification:
Introduction
Market Update / Hot Topic
Practical Guide
Sources and References:
  • Arkin v Borchard Lines Ltd & Ors [2005] EWCA Civ 655;
  • Solicitors Code of Conduct 2011 IB(1.16).
Tags:

This podcast with a specialist commercial litigation funding and insurance broker discusses the practical issues in conducting litigation with the assistance of a third party backer. It examines how such an arrangement works, the trends in the third party funding market and examines what impact Jackson is likely to make.

Podcast recorded: 31/01/12

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