Commercial litigation funding
My company is in the process of a commercial litigation suit against another company. This case has taken a small toll on my company’s productivity and I’m becoming cash poor. My attorney was hired on a contingency fee basis and we are requesting a large amount of compensation against the defense. If I were to apply for commercial litigation funding would I have to put up any type of collateral or any liens against assets or future assets of my company and do I have to sign a contract that would hold me responsible to paying back the loan if we don’t win our case?
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If you apply for commercial litigation through LawLeaf you will only be working with those companies that offer non-recourse funding for your lawsuit. This means that you only have to pay back the loan if your attorney is successful in getting compensation from your case. They will not put liens on assets or future assets or hold your company accountable for the advancement if you don’t win compensation.
These are great questions that my company are facing right now. There is so much fine print that I need the advice of a professional. Thanks for all the input, it helps so much!