What is the role of third-party funding in international litigation?
Third-party funding is an increasingly important element in international litigation. It is the practice of a person or firm providing funding to a litigant in exchange for a share of any potential damages awarded to the litigant. It is a way for those who cannot afford to pay for international litigation to gain access to justice. In North Carolina, third-party funding is allowed in certain international litigation cases, but there are several guidelines that must be followed. The third-party funder must have a written agreement with the litigant setting out the terms and conditions of the funding, including any fees and costs the litigant must pay. The litigant must also demonstrate that they have an actual possibility of success, and that the damages awarded will be enough to remunerate the third-party funder. Third-party funding can be a powerful tool for providing access to justice for those who cannot otherwise afford it. It can also help to level the playing field in international disputes, and can provide an incentive for both parties to settle quickly and avoid a potentially long and expensive trial. However, it is important to recognize that there are risks involved, and it is essential that all parties involved are fully aware of their rights and obligations.
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