New third-party funder enters market with cases on the go and money to invest

Print This Post

By Legal Futures

13 June 2011


Isle of Man: backing for new third-party funding venture

A new third-party litigation funder launches today with five UK cases already funded and significant backing from a leading private equity firm.

Vannin Capital has committed £8m in facilities to fund seven cases in total – including one international arbitration and one US claim – and claims its ability to invest further will place the firm in the top echelon of litigation funders within a year.

Vannin is backed by Bramden Investments, a leading Isle of Man-based private equity firm with a successful track record of investing in start-ups.

The Vannin management team is small and has full delegated authority to approve funding applications – which can be done within five days.

The team includes solicitor and barrister, William Evans, a one-time partner at Irwin Mitchell and DLA who is now at Ely Place Chambers, and solicitor Nick Rowles-Davies, previously of boutique commercial firm Bridgehouse Partners.

Mr Rowles-Davies said Vannin “brings something to the litigation funding market that many other funders fail to bring – funded cases and significant financial backing”. Solicitors are required under the Code of Conduct to advise clients of all the options to finance their case.

He continued: “Our deep understanding of the market, the flexibility of our approach and the speed at which we make our investment decisions provides a unique, compelling and unrivalled funding solution. Vannin Capital is serious about the litigation funding market and intends to make substantial investments during 2011.   

“The use of a third party to fund litigation provides a simple, cost-effective and risk-free alternative for lawyers and their clients. Its increased use in the UK is inevitable regardless of whether the Jackson report is implemented. It brings a viable risk-free alternative to squeezed balance sheets and I urge lawyers to open their eyes to its benefits.”

Vannin said that while the litigation funding market in the UK is steadily growing, there remains a lack of transparency over the ability of some funders to access funds quickly.

Tags:



Leave a comment

* Denotes required field

All comments will be moderated before posting. Please see our Terms and Conditions

Legal Futures Blog

Are you ready to defend your firm’s reputation in the event of a cyber-attack?

Jonathan Hemus

With cyber-crime making the headlines more and more frequently, it is becoming increasingly important that law firms of all sizes understand how to handle such a situation professionally and keep their reputation intact. Here are some steps any law firm can take to help ensure that a cyber-attack or data breach doesn’t cost them their client base.

December 9th, 2016