Legal departments are often viewed as a cost centre by organisations. Most legal departments would have some form of a budget, be it yearly, half-yearly or quarterly. However, new litigation cases will normally not be included in the budget.
When organisations are faced with litigation, the legal department may need more funds from the company to either commence or defend a case. Fresh litigation cases are normally not foreseeable at the point when the budget was committed. Hence, this may put some financial strain on the company.
For companies would good cashflow, this would hardly be a problem. However, for companies with very tight cashflow, it may be difficult to come up with funds to commence or defend litigation cases.
Companies may consider borrowing funds from banks or financial institutions, but banks usually shy away from funding litigation cases.
That is where litigation funding specialists come into play. BIK Consulting assists clients to obtain funding from its network of litigation funders. These funding are normally provided on a non-recourse basis, in that if the client loses the case, there is no requirement to repay the funders.
One of the requirement is that you must have a very good case, a very good lawyer on board and the defendant is solvent and able to pay any damages which are awarded to you.
You can try out our Case Outcome Prediction tool to predict if you have have a high chance to win the case.