Ferguson Litigation Funding launches at IPA Annual Conference
Ferguson Litigation Funding Limited announced its company launch at the Insolvency Practitioners Association (IPA) Annual Conference. The new litigation funder hosted the afternoon drinks reception at the event on 21 April 2016.
The firm has launched in response to new regulation – The Legal Aid, Sentencing and Punishment of Offenders Act 2012 (LASPO) – which has made it increasingly difficult for liquidators to bring claims against rogue directors or debtors of failed businesses due to the prohibitive cost of litigation.
Ferguson Litigation Funding will fund legal and other costs associated with a claim in return for an agreed share of any successful return. If there is no recovery, or if the claim is lost, no debt is repayable as it provides protection for the claimant by assuming the risk.
The team behind the new limited company is well established in the insolvency sector, its sister company is specialist law firm Ferguson Financial Solicitors. From its base in Peterborough, and under the leadership of Maurice Power, Ferguson Litigation Funding will provide funding solutions to insolvency practitioners across the UK.
Maureen Leslie, President of the Insolvency Practitioners Association, commented:
“I am delighted that Ferguson Litigation Funding chose to launch their new company at our annual conference. We are always looking for service developments which might benefit our members and we were happy to provide a platform to Ferguson. Following the Jackson reforms, litigation funding is a hot topic at the moment and one in which our members have a significant interest.”
Charles Ferguson, Chairman at Ferguson Litigation Funding, said:
“We are excited to launch our new venture into the market, addressing the pertinent need of liquidators, individuals and corporates seeking the funds to pursue a claim that would otherwise be cost prohibitive. It is a significant step forward for us and I would like to thank the IPA for its support and enabling us a platform to launch the business at their esteemed conference.”