Noel Edmonds' reference to litigation funding below is a shrewd move.
Few claims actually reach the court room, but your ability to drive a favourable settlement beforehand often depends on your ability to convince your opponent. Not just about the merits of your claim, but that you also have the financial clout to see it through.
It’s a powerful message to tell them that your claim is so strong that a third party financier is prepared to back it.
If the claim is lost, you pay nothing. There is no need to gamble any of your own money on pursuing the claim either. Your resources can be saved for other things.
But there is now a funding ‘market’, and Capital Law became the first law firm to fund and cover the risks of claims we believe in.
Find out more about Capital Dispute Finance.
TV celebrity Noel Edmonds has revealed he has secured litigation funding for his £300m claim against Lloyds Banking Group. The former Deal Or No Deal host is one of dozens of businesspeople claiming compensation from Lloyds over fraud at its subsidiary, HBOS. Edmonds told the Mail on Sunday: “I have a major litigation funder there who has seen my case, so they can’t beat me on the deep pockets.” In February this year, two former HBOS bankers were among six people jailed over a scheme that ran businesses into the ground for their own personal gain. Lloyds, which bought HBOS in 2008, then set aside £100m to compensate victims of HBOS fraud after launching an independent review, headed up by former CBI small business council chair Professor Russel Griggs.