Litigation funding is the focus in this edition of Business Day Spotlight. Host Mudiwa Gavaza is joined by Gary Sweidan, co-founder and director of Taurus Capital, a litigation funding firm.
Litigation funding is an investment in a claimant’s litigation in return for a share of the proceeds, provided the claim is successful and recovery is made. This type of transaction has been permitted in SA law since 2004 and has recently been gaining traction in the market.Taurus Capital recently closed with a fundraise of R145.8m to fund cases, which it says is available for “high-value commercial litigation matters” in SA.
Topics of discussion include: an explanation of the litigation funding business model; challenges faced by people in funding cases; demand by investors and consumers for such a service; how much it takes to push a large case through the court system; and the risk involved in the business model.
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