An Irish entrepreneur is set to launch a new third party litigation fund that will target lower value cases in areas such as professional negligence, medical, Ministry of Defence and institutional abuse claims.
Gearoid O Ceallaigh is to launch Trusted Litigation Capital (TLC) in September and fund cases worth as little as £200,000, according to the Law Society Gazette.
O Ceallaigh, who has interests in hotels and property, told the Gazette that the Jackson reforms had made third-party litigation more attractive to both solicitors and investors.
He has recruited a team of 12 barristers to sit on a panel to judge the merit of cases. Accepted cases will require an exceptionally high prospect of success.
He has secured enough investment to become a member of the Association of Litigation Funders.
"We are prepared to structure it in a way where it is less risky than normal third-party funding," said O Ceallaigh.
"We only look at cases where they are commercial and where people take a pragmatic view on the outcome."