Posted by Graham Street, Partner
Royds Withy King announces innovative £10m Litigation Funding partnership with Affiniti Finance
Royds Withy King has today, Monday 9 December, announced an innovative £10m Litigation Funding partnership with UK litigation financiers, Affiniti Finance.
This will allow the law firm to offer clients a competitive edge in the litigation arena where the costs of pursuing claims to trial are prohibitively expensive. The partnership enables clients to unlock claims which they might otherwise find difficult to bring or where they wish to structure their own finances to the benefit of their business interests rather than the litigation. All of the costs and expenses to be incurred can be funded by Affiniti Finance, whose fair and transparent terms are both market leading and extremely competitive.
Funding under the facility will spread the risk for our clients and, very importantly, is provided on a ‘non-recourse’ basis which means that if, unexpectedly, the claim fails, then there is no comeback.
The fund has been tailored to support a variety of our practice areas and sectors both in the UK and internationally, including Arbitration.
Stewart Wilkinson, London Head of Dispute Resolution at Royds Withy King, who has overseen the project, said: “Legal disputes are unfortunately a fact of life and the higher the stakes, the more damaging and costly they can be to parties who will not only have to shoulder legal expenses as part of their existing budgets but also suffer the opportunity costs of diverted resources.
Pictured from left are Jamie Lester and Stewart Wilkinson, from Royds Withy King, with Olivia Turner, Associate at Affiniti Finance, and Nick Pontt, Managing Director at Affiniti Finance.
“After extensive research of the funding market, we are extremely excited to be partnering with Affiniti Finance whom we recognise as bringing a fresh and transparent approach to the market and whose proposition we believe will be of real and tangible benefit to our clients. The facility is designed to provide them with a tool to hedge risk, eliminate budget constraints and monetise pending claims to free up capital for other business needs. It also resets the bargaining position against deep pocket defendants. The facility can also be accessed within a matter of days rather than the customary lead time of two-three months.”
Affiniti Finance’s CEO, Ian Cunningham, said: “Affiniti Finance is delighted to partner with Royds Withy King, a leader in the UK and international litigation markets. Our facility will enable Royds Withy King clients further access to justice and forge a formidable partnership for all parties involved.”
Stewart Wilkinson continues: “We have always prided ourselves in offering our clients innovative pricing options and structures for pursuing litigation in the UK and overseas. The partnership with Affiniti Finance is the logical next step in this process and forms part of a series of innovative initiatives that we are bringing to the market to assist clients in a rapidly changing environment.”
For any enquiries please contact Chloe Boyce on:
01225 459989 Email us
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