Litigation Funding Application
The Application Process
Applications for litigation funding through Sparkle Capital are a relatively fast process, especially compared with the rest of the market.
Our application process is as follows.
1.
Initial enquiry/Conflict Check. The most common first contact with your legal team is a simple enquiry to casereview@sparklecapital.co.uk. In that communication please provide the names of the parties involved, brief details (if you are comfortable doing so at that stage) and provide any NDA requirements you might have.
2.
Once received, we will perform a conflict check, and arrange for the execution of any NDA as appropriate, responding to you accordingly.
3.
We then invite you to provide full details of your claim, together with supporting documentation.
4.
Once we are satisfied that we have all the documentation we need (we will respond to you to request more information if we don’t) we will proceed to our assessment phase.
5.
Our internal team aim to have an initial assessment undertaken with 48 hours of receipt of the full papers. Note that this process can sometimes result in further email enquires or telephone meetings, to ensure the extent of our understanding.
6.
If we are satisfied with the risk and the financial model proposed, and we have checked with the legal advisors that our intended offer and the Claimants needs are aligned, we will seek approval from our internal investment committee.
7.
The investment committee meets on 2 weeks’ notice (at the latest) and so we are quickly able to give you an indication as to the date when a final decision will be made, and a formal term sheet released to you.
We aim to provide a term sheet as fast as possible, and all matters are different. Note however that in extreme emergency circumstances we are able to proceed from application to decision within 24 hours.
Application Process
The Claimant’s solicitor should contact us to discuss your case. Typically, an initial enquiry will also contain a brief note of the case, together with an estimate of the funding need. We will then guide you through the remainder of the process with further requests for more detailed information.
Application Turnaround
We aim to give an in-principle decision within 5 business days. We appreciate the urgency of litigation and do not want your time and costs to be wasted with a lengthy process if unsuccessful.
If you are given a positive in-principle decision, you may need to provide further information as part of the full due diligence process. If the information required is supplied in whole and swiftly, a formal offer can be made within 14 days.
Draw Down Time
Once you have accepted a formal offer, the various standard transaction documentations will be prepared. After these are executed (usually within 3 days), monies can be drawn down immediately.
Throughout the litigation, we aim for all drawdown requests to be honoured within 48 hours of their submission.
Who we work with
Please check our ‘Who We Work With‘ page to see if we are able to partner with you for applications.
