The Recoverability of Financing Costs in Personal Injury Litigation
May 15, 2011 | Bridgepoint Financial |Posted in Viewpoint
Using Third Party Financing As A Shield... And A Sword
In Canada, third party financing for litigation is a new concept that is increasingly being accepted as a means to facilitate access to justice where there is a substantial imbalance, or Funding Gap, in economic resources between the parties. The global credit crisis of 2008 and the recent amendments to the Insurance Act (Ontario) reducing coverage for general medical and rehabilitation expenses from $100,000 to $50,000 for standard motor vehicle accident benefits have aggravated this issue.
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