Iâm coming to GUELPH, ONTARIO THIS FRIDAY (May 8) to deliver the Musagetes Lecture.
One of my bedrock beliefs is that capitalists really hate capitalism. They may name their beloved institutes after the likes of Adam Smith, but they ignore everything Smith had to say about the necessity of competition to keep markets from turning into monopolies:
The theory of capitalism holds that markets are a kind of distributed computer that aggregates trillions of decisions from billions of market participants in order to optimize production and distribution of goods and services, creating a "Pareto-optimal" world where no one can be made better off without making someone else worse off.
Whether or not you believe that this computer exists and functions as predicted, one indisputable fact about it is that it requires the freedom to choose in order to work. The point of market-as-computer is that it aggregates decisions, so it can only work if everyone is as free as possible to decide.
But that's not the world capitalists want. For capitalists, the point is to restrict other people's choices in order to maximize your own freedom. That's how we get economic doctrines like "revealed preferences": the idea that if a person says they want one thing, but does another thing, then you can tell what they really prefer by looking at the latter and disregarding the former. This is the kind of doctrine you can only fully embrace after sustaining the kind of highly specific neurological injury that is induced by taking an economics degree, an injury that makes you incapable of perceiving or reasoning about power. Under the doctrine of revealed preferences, someone who sells their kidney to make the rent has a revealed preference for only having one kidney:
Capitalism is supposed to run on risk: the risk of being overtaken by a competitor drives businesses to deliver better services more efficiently, thus producing a bounty for all. But capitalists really hate risk, hence the drive to monopoly: Mark Zuckerberg admitted, in writing, that he only bought Instagram so that he wouldn't have to compete with it ("It is better to buy than to compete" -M. Zuckerberg):
Capitalists hate capitalism, but they love feudalism. Feudalism is like capitalism, in that you have a ruling class that creams off the surplus generated by labor; but under feudalism, society is organized to protect rents (money you get from owning stuff) over profits (money you get from doing stuff). The beauty of rents is that they are insulated from risk: if you own a coffee shop, you're in constant danger of being put out of business by a better coffee shop. But if you own the building and your coffee shop tenant goes under, well, you've still got the building, and hey, now it's on the same hot block as the amazing new cafe that's driving its competitors out of business:
Douglas Rushkoff calls this "going meta": don't drive a taxi, rent a medallion to a taxi driver. Don't rent a medallion, start a ride-hailing app company. Don't start a ride-hailing company, invest in the company. Don't invest in the company, but options on the company's shares. Each layer of indirection takes you further from the delivery of a useful service â and insulates you further from risk:
Monopoly is to capitalism as gerrymandering is to democracy, a way to strip out any meaningful choice. Think of the two giant packaged goods companies that fill your grocery aisles: Procter & Gamble and Unilever. Practically everything on your grocer's shelves is made by a division of one of these two massive conglomerates. If you try to "vote with your wallet" by buying a low-packaging version of a product, it's going to be sold to you by the same company that sells the high-packaging version. If you switch to an artisanal brand of cookies made by a local family business, Unilever or P&G will buy that company and issue a press release declaring that they made the acquisition because they know "their customers value choice":
Gerrymandering strips your vote of any impact on political outcomes. Monopoly strips your purchases of any ability to influence economic outcomes. Wrap both of them in "revealed preferences" and you get a system that endlessly narrates its ability to deliver choice, and then blames your misery on your having chosen badly.
This is the method of the entire conservative project. As Dan Savage says: the thing that unites conservative assaults on voting, birth control, abortion and no-fault divorce is the stripping away of choice. Conservatives are trying to create a world populated by husbands you can't divorce, pregnancies you can't prevent or terminate, and politicians you can't vote out of office. Add to that Trump's assault on the National Labor Relations Board, his reversal of the FTC's ban on noncompetes, and his protection of "TRAP" agreements that force employees to pay thousands of dollars if they quit their jobs, and you get "jobs you can't quit":
Conservative strongmen like Trump and Musk exalt the value of self-determination â for themselves, at everyone else's expense. Trump's ability to stiff the contractors that built his hotels and Musk's ability to rain flaming rocket debris down on the people who live near his company town require that everyone else be stripped of protections. They get to determine their own course in life by taking away your ability to determine your own. Their right to swing their fists ends two inches past your nose:
Cheaters and bullies hate the rule of law, hence Trump's endless repetition of Nixon's mantra: "When the president does it, that means it is not illegal." But not everyone can be president, and the world is full of would-be Trumps in positions of power who would like to be able to commit crimes without fear of legal repercussions. For these people, we have something called "binding arbitration."
"Binding arbitration" is a widely used contractual term that forces you to surrender your right to sue a company that wrongs you. Instead of suing, binding arbitration forces you to take your case to an "arbitrator"; that is, a lawyer who is paid by the company that cheated you or maimed you or killed your loved one. The arbitrator decides whether their client is guilty, and, if so, how much that client owes you. The entire process is confidential and it is non-precedential, meaning that if a company rips off millions of people in the same way, each of them has to arbitrate their claims separately, and people who are successful can't share their tactical notes with the people who are next in line to plead for justice.
That makes binding arbitration another key weapon in the conservative movement's war on choice: not just jobs you can't quit and politicians you can't vote out of office, but also companies you can't sue. Binding arbitration is a creation of the Federalist Society and their champion Antonin Scalia, who authored a series of Supreme Court dissents and (ultimately) decisions that opened the door for binding arbitration everywhere:
Given the Fedsoc's role in shoving binding arbitration down every worker and shopper's throat, it's decidedly odd that they invited Ashley Keller to be their keynote debater in 2021, where he argued that "concentrated corporate power is a greater threat than government power":
https://www.youtube.com/watch?v=aY5MrHGjVT8
Keller is a powerhouse lawyer, and an avowed conservative, who has pioneered many tactics for overcoming binding arbitration clauses. He helped create "mass arbitration," bringing thousands of arbitration cases on behalf of Uber drivers who'd had their wages stolen by the company. Since Uber has to pay the arbitrators in each of those cases, they faced a much larger bill than they would face in any possible class action suit:
Mass arbitration cases spread to all kinds of large firms that used petty grifts to steal from thousands or even millions of people, like Intuit, who deceive â and rip off â millions of Americans every year with their fake Turbotax "free file" system:
Mass arbitration worked so well that Amazon actually revised its terms of service to remove binding arbitration from their terms of service, because they realized that they'd be better off facing class action suits:
Of course, the point of binding arbitration was never to create a streamlined system of justice â it was to bring about a world of no justice, where you have no right to sue. It's part of the decades-old "tort reform" movement that the business lobby has used to take away your right to sue altogether. Any time you hear about a seemingly crazy lawsuit (like the urban legends about the McDonald's "hot coffee" case), you're being propagandized for a world without legal consequences for companies that defraud you, steal from you, injure you, or kill you:
That's why companies (like Bluesky) are now trying terms of service that also ban you from mass arbitration, while retaining the right to consolidate claims into a mass arbitration case if that's advantageous to them:
But Keller keeps finding creative ways around binding arbitration. He's currently bringing thousands of arbitration claims against Google, on behalf of advertisers whom Google stole from (Google is a thrice-convicted monopolist, and they lost a case last year over their monopolization of ad-tech, where they were found to have defrauded advertisers).
He also just argued before the Supreme Court in a case against Monsanto over the company's attempt to escape liability for causing cancer in farmworkers with their Roundup pesticide:
Keller appears in the latest episode of the Organized Money podcast, for a fascinating interview about his work and outlook, and how he reconciles his work fighting corporate power with his identity as a movement conservative:
Keller's first big, important point is that (basically), capitalists hate capitalism (see above). He cites Milton Friedman, who "always said that the tort system is the best way to ensure that companies behave and follow the rules." For Keller (and Friedman) the alternative to private litigation against bad businesses is "government regulation and the alphabet soup of Washington, DC agencies [that] try and police these companies."
But, of course, the businesses that want binding arbitration and tort reform (so they can't be sued) also want to "dismantle the administrative state" (so they can't be regulated). They're the impunity movement, the "when the president does it, that means it is not illegal" movement, the "heads I win, tails you lose" movement. They're the caveat emptor movement, the "that makes me smart" movement:
They don't want efficient markets, with the ever-present threat of a better competitor putting them out of business. They want feudalism. They want to go meta. They want to have the kind of self-determination you can only achieve by taking away everyone else's self-determination.
I was very struck by Keller's claim to be engaged in an exercise that Milton Friedman identified as the best one for making markets work. One of Keller's most forceful points is that class action suits are especially important for reining in petty, recurrent grifts, the junk fees that are the hallmark of enshittification.
He quotes his old boss, the archconservative judge Richard Posner, who said "Only a lunatic or a fanatic sues for $20." But if you multiply a $20 junk fee by ten million purchases, a company can use that fact to make hundreds of millions of dollars. That's real folding money, which is why every company has figured out a way to whack you for a $20 junk fee.
There are two ways to end this racket: one is litigation, the other is regulation, and the capitalism-hating-capitalists who run the world want to kill both. That's why the business lobby smears lawyers like Keller as being "vultures." But as Matt Stoller says, "vultures look aggressive and whatnot, but when you actually get rid of vultures out of an ecosystem, all sorts of things go haywire."
I love this point. Vultures live off the disgusting, rotting crap that would otherwise pile up around us, breeding disease and emitting an unbearable stench. If plaintiff-side, no-win/no-fee lawyers are vultures, then junk fees, wage theft, and the million petty frauds they fight are the disgusting, rotting crap that vultures feed off of â and the harder we make it for our noble vulture lawyers, the more disgusting, rotting crap we have to live with, hence the unbearable stench that is all around us.
Listening to Keller was a fascinating exercise. I thoroughly disagree with him about many things â the way he characterized Section 230 of the Communications Decency Act couldn't have been more wrong â but it's quite bracing to hear a capitalist who doesn't hate capitalism defend it against the vast majority of capitalists, who hate capitalism more than any socialist ever did.
If you'd like an essay-formatted version of this post to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
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A business model for bankrupting the oil companies
Today (June 6), Iâm on a Rightscon panel about interoperability.
Tomorrow (June 7), Iâm keynoting the Re:publica conference in Berlin.
Thursday (June 8) at 8PM, Iâm at Otherland Books in Berlin with my novel Red Team Blues.
When a giant company wrecks your life, what are you gonna do? They can afford more and better lawyers than you can, and they have people whose full time job is fighting off lawsuitsâââare you really gonna beat those people by pursuing your grievance as a side-hustle? Do you really wanna be a full-time, professional litigant?
For some people, the answer is yes: some people are angry enough, or sufficiently morally offended, to make suing a giant company their lifeâs mission. Sometimes, they succeed, and force companies to cough up gigantic sums of money. Obviously, this makes the plaintiff better off, but it can also make things better for the rest of us. Money talks and bullshit walks, and once it becomes clear that 300% of the profits from harming people will be sucked out of the company by a lawsuit, shareholders will revolt and force the company to clean up its act.
Shareholders donât invest in companies that ruin our lives because they are committed to an ideology of cruelty. Ideology only gets you so far: the pursuit of profit incentivizes far worse conduct than mere sadism ever can:
Incentives matter. Companies above a certain size become too big to fail and too big to jail. They capture their regulators and ensure that any damages the government extracts are less than their profitsâââa fine is a price.
Juries, on the other hand, can and do really whack a company for its bad conduct. They understand that incentives matter. They understand that a company that saves $1,000,001 by cutting back on workplace safety canât be driven to improve its behavior by a fine of $1,000,000 after it kills a bunch of workers. If profit outstrips penalties, penalties arenât effective.
A dirty $1m profit needs to be met with a $100m judgment. As the Untouchables MBA teaches us, this is just sound business: âThey pull a knife, you pull a gun. He sends one of yours to the hospital, you send one of his to the morgue.â
https://www.youtube.com/watch?v=xPZ6eaL3S2E
But suing these giant companies is hard. They can tie you up in court for yearsâââdecades, even. They can outspend and outwait you. The more profits a company has racked up through its evil deeds, the more claims it can fend off. Incentives matter, so if youâre gonna commit corporate murder, youâd better do a lot of it to build up the cash needed to scare off your victims and their survivors.
However: the bigger a company is, the more cash it has, the more money there is to extract from it if you can prevail in court. If the company has genuinely injured you, and if you can mobilize the capital and resources to pursue it to final judgment, thereâs a huge payoff at the end of the processâââand a lesson for all the other companies contemplating their own course of action.
Thatâs the Voltaire MBA: âyou have to execute an admiral from time to time, in order to encourage the others.â
For hundreds of years, rich, powerful people have observed their colleaguesâ abuses and thought, âThey only pull that shit on peasantsâââbut if they did it to me, I could sue them for everything!â
This led to an obvious course of action: strike a bargain with the mutilated, ruined peasants to finance their suit against the toff that so abused them, in exchange for a (large) share of the proceeds. Medieval courts called this champerty; today, we call it litigation finance: investing in other peoplesâ grievances against deep-pocketed monsters, in the expectation of reaping huge cash payouts.
On paper, litigation finance seems like a neat solution to a messy problem. The bigger a company is, the worse the abuses it commitsâââand the more it can be made to pay for its sins. The normal economics of litigation are turned upside-down: rather than avoiding the largest companies, you pursue them. This is the Willie Sutton MBA: âThatâs where the money is.â
Litigation finance is a large and growing chunk of the finance sector. For about a decade, hedge funds and private equity have been bankrolling law-firms that represent people whoâve been mangled by corporations, keeping the money flowing through whatever delays and entanglements the target throws up:
Litigation finance can be thought of as the no-win/no-fee âambulance chaserâ business on steroids. While a local lawyer can make a tidy living going after slip-and-falls and fender-benders, splitting the proceeds with their clients, a firm backed by a huge investment fund can do the same to companies with billions in the bank and hundreds of millions on the line.
Litigation finance is also closely related to impact litigation, which is when a nonprofit uses charitably raised funds to chase corporations and governments through the courts to establish precedents that overturn bad laws or pave the way for future judgments. Impact litigation can be thought of as the trailblazer for litigation finance: for-profit lawsuits are risk averse and stick to pursuing cases that have a high likelihood of eventually succeeding, while impact litigators are a kind of legal entrepreneur, advancing new, uncertain legal theories in the hopes of making new law. Once that law is created, litigation finance can drum up thousands of similarly situated plaintiffs and sue tons of companies on the same theory, citing the new precedent.
Litigation financeâs first big scores was going after med-tech and pharma companies. A lax regulatory environment allowed medical companies to market deadly products that maimed or killed people wholesaleâââthink Vioxx, vaginal meshes or metal-on-metal hip replacements (a doc about this, The Bleeding Edge, will give you persistent nightmares):
https://en.wikipedia.org/wiki/The_Bleeding_Edge
Suing the companies that killed your family or permanently disabled you is a slow and ugly process, but itâs a lot more certain than asking Congress to patch the loopholes the company that hurt you exploited, or hoping that a future President will appoint an agency head who gives a shit, and that the Senate will confirm them. And since money talks and bullshit walks, corporations that canât pay dividends or do stock buybacks because they owe all their cash to their victims will suffer in the stock market, and their rivals will clean house and tread carefully.
Which brings me to the latest turn in litigation finance: climate litigation. As more and more money has sloshed into ESG funds that are supposed to make money by investing in ethical, climate-friendly businesses, the idea of suing giant oil companies and other wreckers has grown more attractive. 18 months ago, Businessweek covered the nascent-but-growing phenomenon:
That growth has only continued. With more and larger ESG funds chasing returns, thereâs a lot more money available to represent, say, poisoned indigenous people in the global south whose ancestral lands have been rendered an uninhabitable hellscape by a mining or petrochemical company. The returns from these cases arenât correlated with wider economic trends: whether the market is up down, it makes no difference to the size of the judgment or settlement that is extracted in the end.
A new piece in the Financial Times by Camilla Hodgson does an excellent job rounding up the state of play in litigation finance, starting with the oil giant PTTEP paying $102m to 15,000 Indonesian farmers to settle claims stemming from a massive, ocean-killing oil spill in 2019:
The firm that financed the suit is Harbour Litigation Funding, and they paid for a lot of shoe-leather lawyering, sending reps on off-road motorbikes to each of the farmersâ plots to sign them up. The case cost more than $21m, and Harbour creamed $53.5m off the top of the settlement from PTTEPâââabout 40% of the total.
Those numbers are pretty compelling investment story: there arenât a lot of opportunities to make a >100% return on a $21m investment in 15 yearsâââlet alone investments that let you claim to be bringing justice to poor farmers whoâve been abused by rapacious corporate murderers.
Other cases are still ongoing: mining giant BHP is facing a ÂŁ36b class action case over the 2015 collapse of Brazilâs FundĂŁo dam, which released poisoned mine-tailings into waterways serving millions of people. 700,000 plaintiffs are in the class, and the investors, Prisma Capital (Brazil) and North Wall Capital (UK) have already fronted ÂŁ70m pursuing the case.
There is a vast inventory of cases like these, just lying around, waiting for someone to stake a claim. One barrier is that most of the worldâs large law firms are conflicted out of pursuing these casesâââthey represent these same companies in other actions. But a new sector of specialized, un-conflicted firms is growing up, and tackling more and more of these cases.
These firms are chasing relatively easy claims, but thereâs an even bigger fish out there, waiting to be caught: class actions against carbon-intensive companies, especially coal and oil companies, for their knowing contributions to the global climate emergency. These corporations are sitting on hundreds of billions of dollars, and they have inflicted trillions in harms. Thereâs gold in them thar wildfires.
The FT cites experts who predict a massive wave of litigation finance climate suits in the next 2â3 years, and notes an increasing tempo of shareholder motions demanding that big oil and mining companies disclose their litigation risks in their investor reports.
This is a very compelling idea, a kaiju boss-fight in which we recruit monsters to fight other monsters. Itâs such a fun idea that I actually wrote a novel about it, 2009âs Makers, in which corporate misconduct that has not yet reached the statute of limitations becomes the new oil, prompting a huge investment bubble:
https://craphound.com/category/makers/
But is the answer to a bad guy with a law firm a good guy with a law firm? There are certainly some ways this can go very wrong (many of which end up in Makers). Back in 2015, Cathy OâNeil published an excellent critique of litigation finance in the context of vaginal mesh cases:
OâNeillâs point is that incentives matter. The incentive for a litigation finance fund is to extract settlements, not win justice. Time and again, weâve seen how a financial tactic can be severed from a societal strategyâââlike how GDP can be goosed to spectacular heights without improving national prosperity.
Thereâs even a name for this phenomenon: Goodhartâs Law: âWhen a measure becomes a target, it ceases to be a good measure.â The finance sector is spookily good at decoupling positive societal outcomes from positive investor outcomes. The real answer to medical companies that mutilate women with vaginal meshes, or destroy the planet with CO2, is criminal sanctions and regulation, not private lawsuits.
That said, I think thereâs a case for the one leading to the other. Right now, climate wreckers devote very large sums to preventing effective action on climate. Suborning regulators and politicians all over the world isnât cheap. If we take away the money theyâve saved up for this project through stonking, eye-watering judgments, and if we convince the capital markets not to give them any more money lest it be immediately extracted to pay for more redress of a litany of grievances, then perhaps we can deprive them of the capacity of corrupt our political process.
One way to understand whether something is a genuine threat to a companyâs power is to look at how viciously the company attacks it. If you doubt that unions could do good for workers, just take a peep at the all-out violent blitzes that Amazon and Starbucks mount in the face of union drives. I mean, imagine if the Democratic Party took unions half as seriously as the GOP!
The corporate lobby exhibits the same terror over plaintiff-side lawsuits as it does over unions. A massive, decades-long campaign to villify plaintiff-side lawyers has convinced many of us that corporations are the victims of the legal system, rather than its masters. The PR campaign is surprisingly effective, despite its reliance on lies about the âMcDonaldâs hot coffee lawsuitâ and other urban legends:
Corporate plunderers are terrified of being dragged into court by their victims, and devote titanic amounts of blood and treasure into making it harder and harder to do so. On the âthe more scared the are, the betterâ metric, litigation finance is a slam dunk.
But winning a case isnât the same as getting a judgment or disciplining a firm. When Steven Donziger won a landmark judgment against Chevron on behalf of indigenous people whose lands and bodies had been permanently poisoned, the company struck back:
Chevron bribed a judge in Ecuador to claim that Donziger had rigged the case, then brought a case in the US against Donziger for racketeering, judge-shopping to get judge Lewis A Kaplan on their case. Kaplan is a former tobacco industry lawyer who never met a corporate criminal he didnât love, and when the SDNY prosecutor declined to press charges against Donziger because the case was absurd, Kaplan appointed a private lawyerâââwhose firm also acted for Chevron!âââto act as prosecutor. The case against Donziger was obviously trumped upâââthe Ecuadoran judge who accused him of corruption later recanted and multiple countriesâ Supreme Courts upheld the judgment Donziger won against Chevron. Nevertheless, Kaplan got Donziger locked up under house arrest for years, and even got him banged up in Rikerâs for a time. Donzigerâs lost his law license and his clients are still awaiting judgment.
This is the best law that money can buy, and Chevron has a lot of money. The massive expenditures needed to railroad Donizer were a pittance compared to the $9.5b judgment Chevron owed its victims in Ecuador.
The lesson of Donziger is that these companies wonât go genrly to their graves. They are enormously, unimaginably wealthy and act with the ruthlessness born of greed, which makes mere sadism pale by comparison. Litigation finance is exciting and promising, but itâs only a tacticâââand itâs a tactic thatâs always in danger of being turned against the goal it nominally serves. The people funding litigation finance donât want to save the worldâââthey just want to get rich. They can and will change sides if someone can make the business case for doing so.
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
[Image ID: A mirrored office tower bearing the Exxon logo. One face of the office tower is a graffiti-covered ATM. Before the tower is a giant pile of bricks of oversized US $100 bills in paper wrappers. The ATM screen depicts a smouldering Deep Water Horizon oil platform.]
Is Litigation Financing a Dependable Solution for Personal Injury Cases? Explained
The personal injury leaves individuals with a physical and financial hurdle. This can also be linked to emotional issues. Securing legal proceedings is crucial such that it becomes possible to cover medical costs and other associated damages. However, pursuing justice is not that simple when running short of funds. Availing of dispute litigation finance can be a solution.
This funding can elevate the financial burden of legal action. It also lets claimants pick a top-rated lawyer for dealing with the case. This article explains the reliability of this type of funding to make sure that you can sign a pact with a funder confidently.
The Role of Litigation Finance in Personal Injury Claims
No Financial Risk
This funding eliminates the risk of financial liability. The reason is that you can find it a non-recourse form of financing.
Access to Justice
It ensures everyone to pursue claims even if there is no money in the pocket. It actually bridges the gap and lets people tackle legal challenges confidently.
Better Legal Support
It enables claimants to utilise valuable financial resources from a funder to hire a professional lawyer. Thus, it enhances the chances of success.
Focus on Recovery
You donât have to worry about litigation cases and prioritise your recovery. In short, you can get well soon whereas the legal representative will look after your case.
Did you know? Many individuals think that litigation financing is limited to any particular type of individual or business. However, this is a myth that you must know.
The Significance of Litigation Financing
Reputable Funders
You can collaborate with a trustworthy funder. Identify the proven track record and opt for someone who provides dependable financial assistance.
Non-Recourse Agreements
It is possible to create non-recourse agreements when compared to traditional loans. Thus, it offers no financial burden if you donât obtain a favourable outcome.
Transparency
You can find a clear outline of fees and repayment terms. This clarity helps you make informed decisions.
Tips for Choosing the Right Litigation Funder
Reputation
Opt for a reputed provider of personal injury cases. You can consider the reviews and testimonials to obtain insights.
Transparency
Discover the agency that offers clear pieces of information about fees and other things associated with your case. Transparency must be there.
Specialisation
Funders are more likely to understand cases. You must select the agency that offers tailored support to personal injury claimants.
Final Words
For navigating the complexities of personal injury claims, consulting with experts is ideal. Opting for dependable litigation finance support can provide a pathway to justice when you donât have enough funds in your pocket. As this is of a non-recourse nature, reputable funders ensure that there would be no financial strain for claimants at any point of time. If you are ready to obtain recovery amounts, partner with the right provider soon.
You may prefer consulting with a professional legal advisor to pick the right funder. Schedule a free consultation to determine whether it offers valuable support. Now, focus on your recovery whereas professionals will perform their task of dealing with your case in court.
Litigation finance, once a niche concept, has become a vital legal and business tool. It empowers plaintiffs, law firms, and businesses to p
The Future of Litigation Finance: Trends and Innovations in 2025
Litigation finance, once a niche concept, has become a vital legal and business tool. It empowers plaintiffs, law firms, and businesses to pursue meritorious claims without the burden of upfront legal costs. As we enter 2025, this dynamic industry is evolving rapidly, driven by innovative trends and changing global dynamics. This blog provides you with a glimpse into the future of litigation finance in Australia, focusing on emerging trends and innovations.
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The Role of Litigation Finance Capital in Handling Motorcycle Accident Lawsuits
Motorcycle accidents can be a life-altering event, leaving the victims not only with severe physical injuries and lost wages but also financial burdens. The aftermath of a motorcycle accident brings tonnes of issues, including loss of income, ongoing therapies, piled-up medical bills and repairing or replacing your damaged motorcycle. At these times, victims seek justice for compensation through a personal injury claim. However, lawsuits take forever to settle, which can put stress on your shoulders. Well, taking help from third-party litigation finance capital can help you.
Legal financing aka lawsuit loans allows you to finance your motorcycle accident lawsuit through third-party legal funders and get better legal assistance. Unlike traditional loans, legal loans donât need you to give anything as a security deposit or pay anything back if you lose the case. Thus, itâs a risk-free yet powerful financial tool for plaintiffs to fight for their rights.
So, how can it help you? Letâs discuss that in the following blog post.
6 ways third-party legal financing can help you deal with your motorcycle accident lawsuit
Legal funding offers plaintiffs cash advances that they can use for various reasons when their cases are still in court awaiting settlement.
The following are the 6 ways legal funding helps you during your motorcycle accident lawsuit:
One of the major benefits of taking third-party legal funding to deal with your case is that it can allow you to hire a better attorney to represent your case. It can further strengthen your case and stay on it until you get a favourable settlement. Financial stability also helps you find expert witnesses and protect them during the trial.
When youâre injured and unable to go to work, you can use the cash advance from third-party legal funding firms to buy groceries and other essential commodities for your family. You can even pay house rent and utility bills using the funds.
Hefty medical bills can take a toll on you when youâre recovering from your injuries. Well, having legal funding by your side can help you cover your medical bills and surgery costs. You can even pay for the transport to and from the doctorâs chamber for follow-up.
Is your motorcycle heavily damaged because of the accident? Well, you can use the cash advance from third-party legal funding firms to repair your motorcycle or replace it if needed.
Wondering how to pay the tuition and school fees of your children when youâre still unable to go to work? Well, you can use a third-party legal funding firm to pay the fees. Even if any child or disabled relatives are dependent on you, you can use the funds to take care of them.
If your injuries are holding you back from doing household work, you can use the funds from third-party legal financiers to hire a home care professional.
Bottom line
Are you dealing with a motorcycle accident lawsuit to get compensated for your injuries?Instead of breaking the bank or exhausting the savings, think of taking help from third-party litigation finance capital. We hope this blog post can help you understand that.
