Bentham is predominately involved in funding commercial cases. Class actions are not an immediate fit, because our funding typically covers some or all of the legal fees, and class action counsel often take matters on a contingency basis. However, from time to time, applications for class action funding cross our desks.
When we discuss these cases with clients and counsel, we are often asked how our funding compares to the funding provided by the Class Proceedings Fund or after-the-event insurance products. We addressed this issue with Simon Gibson of Aon Risk Solutions and Gina Papageorgiou of the Class Proceedings Fund on 20 April 2018 at an Ontario Bar Association event focused on class action settlements. As demonstrated in the comparison table linked below, there are key similarities and distinct differences between the three offerings in types of funding provided, the costs borne by the class members, the accessibility of additional funds, and other factors important to understand before deciding how to finance an action.
Click to view the table comparing litigation funders, ATE insurers and the Class Proceedings Fund.
Notably, the outcome of the Houle v. St. Jude appeal (a summary of Justice Perrell's decision may be found here) will have an impact on the funding that may be provided in class actions. The Divisional Court is expected to hear the appeal towards the end of 2018.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.