FeeSolve (Fieldfisher), the platform that facilitates the practice of litigation funding
Fieldfisher has recently launched FeeSolve, a platform that enables the assessment of commercial claims in order to facilitate the choice of litigation funders among different legal proceedings.
The platform is the latest development of the firm's innovative self-funded risk management and funding solution, FeeSolve. Many companies do not have a budget line for litigation and many want to avoid the cost.
FeeSolve enables litigators to take costs off their bottom line and reduce risk. In addition, compared to traditional third-party funding, FeeSolve is more cost-effective and Fieldfisher can provide funding for cases that would normally be considered too low value for traditional third-party funding.
"One of the biggest problems litigators have with traditional third-party funders is the time delay in submitting a case to see if it is eligible for funding and waiting weeks, sometimes months, while they analyse the risk: benefit to themselves. With our new platform, we can give an immediate indication of eligibility," said Tony Lewis, partner at Fieldfisher.
Fieldfisher has been offering its clients the FeeSolve risk management and finance package since 2013, giving them cost certainty and offering solutions to reduce financial risk. This latest platform aims to revolutionise the practice of litigation funding.
"In recent years there has been a significant shift towards the use of litigation funding. The stigma of it being a tool of last resort has evolved into a strategic financing product that allows companies to improve their balance sheet and reduce risk," confirms Lewis.