The ALF is an independent body that has been charged by the Ministry of Justice with delivering self-regulation of litigation funding in England and Wales. The Association defines and maintains best practice in the litigation funding industry and, as a result, promotes access to justice for claimants looking for alternative financing in order to resolve disputes.
Founded in November 2011, the ALF was instrumental in drafting the Code of Conduct for Litigation Funders. The Code was published by the Civil Justice Council, an advisory public body, which has a statutory role of advising Government and the judiciary on civil justice in England and Wales.
The Code sets out the standards by which all members of the ALF must abide. This includes rules relating to capital adequacy, the specific, limited circumstances in which funders may be permitted to withdraw from a case, and the way in which the roles of funders, litigants, and their lawyers should be kept separate.
The Association of Litigation Funders comprises thirteen funder members and six associate members. A funder can only be approved as a member of the ALF if they can demonstrate that they comply with the Code of Conduct in full.
As the UK’s largest panel of litigation funders and ATE providers, it was crucial for Sentry Funding to be part of the body so greatly dedicated to promoting best practices in the litigation funding industry. By working with a member of the ALF, solicitors and individuals accessing litigation funding are assured that they will find an organisation that meets the high-quality values that should define this industry.
Thomas Webster, Sentry Funding’s Commercial Director describes it perfectly: “Joining the ALF is a statement of our commitment to high ethical standards and the positive promotion of the industry as a whole”.
The ALF plays a vital role in ensuring that growth of litigation funding is sustainable and that the business of litigation finance is conducted within the rules set out by the government. The expansion of litigation funding should be inspired through a means of ensuring access to justice by allowing solicitors and their clients with meritorious claims to conduct litigation in a way that does not put undue strain on balance sheets.
The main mission of the Association of Litigation Funders is to:
- Ensure best practice and ethical behaviour amongst litigation funders.
- Ensure better access to justice by working to improve the use and application of litigation funding as part of the rational management of financial risk in dispute resolution.
- Shape the legal and regulatory framework by actively lobbying the government and legislators, and engaging with other regulators and policy makers in the UK.
- Make England and Wales the world leader in litigation funding provision by protecting claimants through the clear stipulation and enforcement of rules of engagement.
- Be the voice of the litigation funding industry in England and Wales.
- Raise the profile of litigation funding and its uses with the public and the media.
By joining the Association of Litigation Funding, Sentry Funding has strengthened its position on the litigation finance market and showed that it was a recognised partner among funders. Sentry Funding still aims to be the first port of call for all litigation funding and ATE insurance requirements through the use of its market leading technology.
December 8, 2021
Insights
