32. How do Harcus Sinclair, Slater and Gordon and the Third Party Funder get paid?
The effect of the funding arrangements is that you will pay nothing unless the case is successful.
If we obtain compensation on your behalf, then you will pay a fee that reflects the financial risk that the Third Party Funders have taken in financing the litigation.
The relationship with the Third Party Funders is governed by the Litigation Funding Agreement which the Committee will execute on your behalf. While the Agreement is commercially sensitive it may be inspected at our offices.
Under the Litigation Funding Agreement, the Third Party Funders will pay any up-front insurance premiums, pay the disbursements associated with the case, pay the fees due to Slater and Gordon under their Conditional Fee Agreement and provide working capital support to make it possible for Harcus Sinclair UK Limited to sustain their DBA.
Provided that the compensation received is enough to give the Third Party Funders more than a return of three times what they have risked, together with the return of their capital, the overall fee that will be taken from your compensation is 30%. The cost of distributing the settlement fund will be in addition to that fee.
This arrangement is reflective of the risk being taken by the Third Party Funders in agreeing to fund the claim.
SGH Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
