Following the widely reported abuse of the CFA regime, the Government appointed Lord Justice Jackson to review civil litigation funding. Jackson found that, on average, claimant's legal costs were 158-203% more than the value of the damages. His proposals have now been given wholesale approval by the Government and by October 2012, it will no longer be possible to recover CFA costs and ATE premiums from the defendant. Quoting the Law Society’s Litigation Funding publication, Issue 72, April 2011:

Manolete’s products offer the complete solution. By being able to purchase the debt or claim outright, Manolete’s primary product offers the IP the opportunity to completely de-risk the Company and the IP while retaining very signifi cant value. From the point of sale to Manolete both the Company and the IP are free of any cost liability. At the same time Manolete is able to pay the Company an initial cash amount up front for the debt/claim and a large share of the final proceeds

Whether the IP is selling the case to Manolete or Manolete is funding the IP, by utilising our products the Company benefits from Manolete’s expert ability to manage the case and the legal process. This dramatically reduces the costs of processing these cases. Why? Because Manolete benefits from being able to instruct expert barristers directly – thus avoiding on many occasions, the extra processing usually required by solicitors. We find that it is Counsel that typically adds the crucial legal value to a case. Manolete provides the project management skills (at no cost other than our share of the proceeds). The result is that case costs are reduced to an absolute minimum leaving a far greater share of the reward to you and us

For further information contact Steven Cooklin: This e-mail address is being protected from spambots. You need JavaScript enabled to view it Tel: 07900 985559