The Valetta Trust litigation has paved the way for the use of litigation funding in Jersey for the first time. Bedell Cristin’s Lisa Springate and Robert Gardner report
It is a well-known feature of the Jersey legal system that not only are you expected to fund your own legal costs but that, should you be unsuccessful in your claim, you are also likely to have to pay a substantial proportion of the other side’s costs on either an indemnity basis (approximately 80% of the overall costs) or on a standard basis (approximately 65% of the overall costs). This adds an extra dimension of risk to an already risky process and can tip the balance in any cost-benefit analysis when considering whether or not to pursue a claim in Jersey.
