Estate Planning

Financial Services for Plaintiffs

By Hull and Hull LLP

With the recent case law moving in the direction of 'loser pays', costs in estates matters are becoming more and more of a concern to litigants. If only there was insurance against such a risk, you say. Well, now there may be, in certain cases. It is called Opponent's Costs Indemnity (OCI©) and it is offered by Lexfund Management Inc.  

Lexfund is a third-party litigation funding company that offers funding for what it determines to be meritorious commercial litigation lawsuits for monetary damages of $1 Million or more. For litigation that meets Lexfund's criteria, funding is provided on the basis that the plaintiff owes nothing if the case is lost. Lexfund's new OCI insurance is a companion product designed to alleviate the plaintiff's anxiety and apprehension over the possibility of having to pay the defendant's court costs if the claim is unsuccessful.   

Another service you may wish to check out is BridgePoint Financial Services. BridgePoint has a variety of plaintiff lending services. They offer flexible and affordable "bridge loans" to help plaintiffs carry on with their lives without financial stress while providing their lawyers the time needed to negotiate a reasonable settlement of their legal claims. BridgePoint will tailor a financing solution to specific needs while ensuring that every loan offered makes sense, relative to the claim.

Lexfund and BridgePoint offer a variety of options for plaintiffs with strong claims who might otherwise have to abandon their cases due to the financial pressures of litigation. 

Sharon Davis - Click here for more information on Sharon Davis.

Full post as published by Toronto Estate Law Blog on September 29, 2010 (boomark / email).