Prospects of success
The prospects of success are one of the key risk factors for funders. Typically, a funder will want to see prospects of success of at least 60%. The prospects of success are not only relevant in terms of risk to the funder’s capital, but also to the risk of a funder having to pay the other side’s costs, which following recent case law would exceed the amount that they have funded. A funder will initially expect to the legal team to have been able to place a prospects of success bigger on the claim expressed as a percentage. The figure will need to be supported by a reasoned opinion, which considers the relevant issues, the arguments that either side may run on those issues, and the potential outcomes. Speaker 100:42Funders will be impressed by an insightful analysis of the evidence of fact, including documentary evidence and witness testimony. If there are additional documents that may come to light, you should explain how you’ve assessed the risks and whether there is a risk of unhelpful evidence being disclosed, or whether you think disclosure will assist with the case. When documents don’t prove the claim, explaining why witness testimony is credible is going to be important. 01:14If there is a particular point on which oral evidence will be critical, it would be helpful to explain how this has been tested with the witness by the legal team. Remember, it’s not just about how likely you think the claim is to succeed, funders will want to understand how you have arrived at that decision. Go ahead and complete this section. Then, we’ll move on to the next. Not got the information you need? Well-researched and presented requests always fare better than those that lack of the information that funders need.