As leaders in our industry, we aspire to raise standards continuously. Litigation funding has grown rapidly over the last decade to become an established financial market and as it continues to grow, we believe it should operate like one too.

All major financial markets have increasing standardization of processes and frameworks. Litigation funding has very little but the first major step the industry could take is standardizing transaction documentation. As the LMA standards in the syndicated loan market and the International Swaps and Derivatives Association (ISDA®) framework in the derivatives market have shown, the benefits of transparent and standardized documentation are enormous for all.

Leveraging the combined litigation and commercial experience of LionFish, we have made publicly and freely available our documentation suite. We acknowledge these may not become the market standard but the objective is to add impetus and transparency to the process of standardization, so that it raises standards to the same level as the other established financial markets to which we should be benchmarking ourselves.

The suite contains:

• Litigation Funding Agreements for:
  • Single funder investments; and
  • Investments made on a co-funded or multi-funder basis;
• Priorities Deed for:
  • Single funder investments; and
  • Investments made on a co-funded or multi-funder basis; and
• Assignment Deed.