In many cases, even claims with good merits are abandoned because cargo owners or their insurers are reluctant to pursue costly litigation because of the potential risk of substantial legal fees and counter-party cost claims. However, subject to restrictions in certain jurisdictions, litigation funding may offer a solution.
Dolphin is able to offer various solutions, tailored according to the merits of the case, mitigating the costs exposure while maintaining the potential for recovery.
Through the services of a third-party funder, Dolphin arranges financial resources to cover all or part of the legal costs in exchange for an enhanced contingency fee only if the case is successful. This no-cure-no-pay option allows our clients to pursue recovery without bearing the upfront legal costs, thereby avoiding the financial burden and risk exposure.
Another innovative approach is the outright purchase of the claim via an assignment. In this scenario, the claim is bought from the insurer or claimant by a third-party funder arranged through Dolphin, providing clients with an immediate financial recovery, regardless of the claim’s ultimate success in court.
Both of these options enable clients the potential to realise value from claims where they would otherwise give up due to legal and financial constraints, without exposing themselves to unlimited financial risk.