As a leading provider of After the Event legal expenses insurance we work closely with a large number of legal practices and specialist brokers. As a result of this we listen to the concerns and issues that our partners in this sector face. One of the most common problems we come across is the number of actions that are not pursued due to lack of funds. This is why we came up with our ATE Litigation Funding insurance policy.
Third party litigation funding has been a feature of legal disputes for many years in the United States and is now starting to gain traction in the UK. The feedback we have is that many of the facilities in the UK are seen to be complicated and only for cases where there are very high damages involved.
Taking this perception on board we have worked with Sparkle Capital Limited to create ATE Litigation Funding facilities that are exclusive to Acasta that can be applied to cases where the funding requirement is as low as £10,000. Working with Sparkle Capital we have created two funding options.
Sparkle Capital Lite is a third party litigation funding option that has been designed to cater for smaller claims where the damages are likely to be less than £1,000,000.