WORKING WITH US
Typically, litigation funders take on the cost of the litigation including legal and expert fees, security for costs and any adverse costs awards, and in return take an agreed percentage of any outcome. This is consistent with the litigation funding model that applies in most common law jurisdictions with a similar legal framework and with which New Zealand likes to compare itself.
LPF Group’s value as a funder is not limited to providing finance. LPF Group also provides strategic input on claims, including investigative, management and other services and expertise on the claims which it funds. We have built a reputation for our strategic approach to cases we fund, providing both financial resource and litigation strategy.
LPF Group’s New Zealand base and extensive ties with the local business scene, combined with experience and expertise from funding claims both in New Zealand and across the Tasman, sets it apart in its ability to provide these services for New Zealand claims. LPF works with many of New Zealand’s leading QCs, lawyers and professional advisors to ensure we provide the very best support for every case we fund.
"LPF is committed to supporting deserving cases right through the court system if necessary."
Once LPF Group has reviewed the merits and legal basis of a case, and decided to proceed with funding, a funding agreement is signed, generally, with a representative of a Claim Committee.
LPF Group typically funds:
The payment of the plaintiff’s litigation costs (including
meeting legal and expert costs)
Any security for costs
Any adverse costs
In return LPF receives a fee, usually based on a percentage of the outcome of each successful case.
To be considered by LPF, generally claims should be at least $2 million. LPF currently provides funds for cases in a variety of areas, including insolvency related matters, building and structural defect claims, and commercial litigation.
We are happy to consider funding claims at any stage, from when a claim is being considered right through to the later stages of litigation.
Funding is provided on a 'no win, no fee' basis.
Expeditious Claim Review:
LPF appreciates the value and importance of expeditious reviews of applications for funding and assistance, and has established procedures to ensure it can provide prompt replies. No charge is payable for LPF Group reviewing an application.
Justin Smith, QC
The cost of litigation, particularly against a well-heeled or well insured defendant, often puts legal redress beyond the reach of a plaintiff.
The money LPF provided was critical for what was a highly successful outcome after arduous legal effort. At least as important, though, was the expert critical eye that was cast across the evidence as it was compiled.
I make the obvious point that the claim could not have got off the ground without LPF’s financial assistance. Their funding is providing the opportunity for creditors to have a prospect of a recovery of their losses that would simply have been lost without the availability of litigation funding from LPF.