As the litigant is a fully funded litigant, the lawful interest of “the Funder” must be maintained at all times.
“The Funder” exists to assist the litigant in the recovery of damages/compensation as a result of mis-selling of the Timeshare or long term holiday product.
Essentially, subject to your advice, we understand that a meritorious claim exists and that the selling of the product [to our consumer client] may have been unlawful.
This belief requires you to prepare an advice outlining a reinforcement or weakening of that genuine belief. Subject to that advice “the Funder” will set aside the necessary funds so as to deliver a meritorious outcome.
In consideration for funding, the litigant has agreed that “the Funder” is irrevocably entitled to a percentage of damages agreed between them and their litigant client. This percentage remuneration is expressly represented in the Litigation Funding Agreement.
At present we have expressly stated that we “Wilson & Perez” and “the Funder” believe that you should be instructed in this matter. This requires you to send to the client your engagement terms and conditions so that the engagement can be ratified. We trust that you will ensure that your contracts are fair and reasonable and sets out the extent of your engagement.
In the acceptance of this instruction it will impart a duty upon you to return to “the Funder” their reward if and when awarded via “Wilson & Perez.”
“Wilson & Perez” is a paralegal company and is not permitted to conduct contentious business. Both “Wilson & Perez” and “the Funder” has an interest in this case and as such both parties have a right to be informed of progress on request. Equally and despite your duties to the litigant you are, as part of the funding arrangement, required to assist and cooperate with “Wilson & Perez” and “the Funder”.
Any such requests for advice and information will be sent to you by letter or email. As part of this Agreement a response will be required within 14 days.
Acting as agent for “the Funder,” “Wilson & Perez” are required to have unfettered access to any material generated by the forward action.
A confidentiality agreement has been entered into by “Wilson & Perez” with their litigant clients.
In the event that you uncover any matter which may reasonably affect the outcome of this case or is contrary to the risk assessment, this Agreement creates an obligation on you to inform “Wilson & Perez”. In the event that it comes to your knowledge that any illegal act or misrepresentation has occurred which could or might cause damage or harm to “Wilson & Perez” or “the Funder” you are bound to immediately inform them both.
Having inspected and affirmed this instruction you irrevocably accept that “Wilson & Perez” and “the Funder” have a lawful interest in the outcome and the monies which flow from that outcome.
Offers to settle
Under the terms of this engagement letter, you are required to inform both “Wilson & Perez” and “the Funder” of any offers to settle made by the opponent and/or the litigant and to advise in any such settlements. [Without prejudice “Wilson & Perez” and “the Funder” accepts that the final decision rests with the litigant at all times].
If an offer to settle is made to the litigant by their opponent(s) “Wilson & Perez” and “the Funder” may ask you to provide further evaluation and a risk assessment on future funding.
Under the terms of this Agreement you are you are required to conduct and return a litigation risk assessment ‘free of charge’ . In this assessment you will provide a statement of the reasonable expectation of damages. At any time, “Wilson Perez” acting on behalf of “the Funder” can request further risk assessments when they deem it appropriate.
Your legal costs are set out below. For the avoidance of doubt the litigant(s) are granted full access to the costs applied by you and the payments received.
The cost schedule is as follows: –
Pre litigation costs
Costs up to and including the First Instance Hearing
Costs from the First Instance Hearing up until the Trial
After the Event settlements
In the event that you so determine that this action can or will attract potential adverse cost orders, please provide the potential liability so that “the Funder” can make reasonable provisions.
In the event that “Wilson & Perez” or “the Funder” believe that the claim [presented] may flounder, then “Wilson Perez” on behalf of “the Funder” will at all material times reserve the right to terminate the funding, paying your costs to date including but not limited to adverse costs, subject to the terms and conditions expressly represented to the Litigant.
Any and all payments required to discharge your account will be paid by “the Funder” within 28 days of receipt of your bill. All claims will set out the VAT element and be delivered to the Company Secretary of “Wilson & Perez” via email. All invoices will be acknowledged and payments will be transmitted by bank to bank transfer.