Litigation Funding and Insurance for Maritime Disputes

litigation funding

Shipowners' Problems

Limited or no finance available to pursue legal proceedings in the English High Court or London Arbitration

Lack of expertise in pursuing High Court or Arbitration claims

No response from opponents to initial commercial approaches to settle claims

Opponent’s security for costs demands from claimants who have limited assets, or who are not domiciled in the UK/ EU

Jurisdiction and legal technicalities

Fear of English law procedures and the costs

GRS with its partners provides case by case solutions for these problems, proven in the English Courts and London Arbitration, which gives access to justice for Owners/Managers where third parties fail to pay valid claims. Shipowners with GRS have the complete package to enforce their claim recoveries, and it is possible to do this with no costs outlay, and all on a "no cure no pay” basis.

The Solution

Ship owners and Managers need the legal, technical and financial resources to engage opponents (and their lawyers) in claim negotiations, or, if this fails, to seek recourse from the Courts or Arbitration.

london courtsGRS with its international partners, offers clients the benefits of many years’ experience in resolving such disputes, and, working in tandem with a leading legal expenses broker in London, which enables clients to mitigate the cost of litigation by sourcing legal expenses insurance and litigation funding from first class funders and insurers, we are able to source and secure the most appropriate insurance and funding, all of which is entirely contingent upon a successful result. Legal proceedings for maritime disputes in London are expensive, and clients need the comfort of “all costs" coverage so that they are then able to bring formal proceedings in the legal environment, so as to enforce a response from opponents.

No Cure No Pay

Contingent Fees

Deferred contingent ATE insurance premiums

No upfront costs as all fees/premiums are only payable on resolution in your favour

No Upfront Costs

ate insurance

GRS works with a tried and trusted panel of lawyers and barristers who are experts in maritime law. We will find the most suitable lawyer and/or counsel; on contingent fee terms, for your particular dispute. Such lawyers/counsel are not paid by the client whilst the claim is underway, only after resolution in your favour will their fees, and any insurance premiums be paid from the recovered amount.

Owners also need not be concerned about costs exposure if their case loses; we recommend an After the Event (ATE) insurance policy which will cover your opponent's costs and your disbursements if your claim is not successful. As with your lawyer's fee, the ATE premium is contingent upon success and is only paid once the claim has been resolved in your favour. Furthermore, ATE premiums are not payable at all if your claim loses.

Should it not be possible for certain litigation costs to be deferred and/or contingent, e.g. expert and arbitrator’s fees, we can arrange what is known as Third Party Funding (TPF). We and/or an independent third party will invest an agreed sum in the claim which can be used for such disbursements as; Court fees, the cost of picking up an Arbitration award, expert and any other costs which may be specifically agreed. We, or another third party funder, will then be remunerated by an agreed enhanced proportion of your damages, but only on successful conclusion of your claim.

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