Litigation Funding Agreement

Litigation Funding Agreement Template for Denmark

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Document background

A Litigation Funding Agreement is essential when a party seeks third-party funding to pursue legal claims in Denmark. This document is used when a claimant requires external financing to cover litigation costs in exchange for a share of the potential proceeds. The agreement must comply with Danish law, including the Administration of Justice Act and general contract law principles, while addressing specific requirements for litigation funding arrangements. It comprehensively covers funding terms, success fees, control rights, confidentiality, and risk allocation. The document is particularly relevant in complex commercial disputes, class actions, or when claimants lack sufficient resources to pursue legitimate claims. The Litigation Funding Agreement must carefully balance the funder's investment protection with the claimant's and their lawyer's professional independence, ensuring compliance with Danish legal and ethical requirements.

Suggested Sections

1. Parties: Identification of the litigation funder and the funded party (claimant)

2. Background: Context of the litigation and purpose of the funding arrangement

3. Definitions: Key terms used throughout the agreement, including 'Claim', 'Proceeds', 'Success Fee', and 'Adverse Costs'

4. Funding Commitment: Details of the funding amount, drawdown conditions, and funding schedule

5. Success Fee and Return Structure: Calculation and payment of the funder's return, including priority of payments from proceeds

6. Conditions Precedent: Conditions that must be satisfied before the funding obligation becomes effective

7. Representations and Warranties: Statements of fact and assurances from both parties

8. Obligations of the Funded Party: Commitments regarding conduct of litigation, information sharing, and cooperation

9. Control and Conduct of Litigation: Decision-making rights and consultation requirements

10. Confidentiality and Data Protection: Obligations regarding confidential information and compliance with GDPR

11. Termination Rights: Circumstances allowing either party to terminate the agreement and consequences

12. Costs and Adverse Costs: Responsibility for legal costs and adverse costs orders

13. Governing Law and Jurisdiction: Danish law as governing law and jurisdiction for disputes

14. General Provisions: Standard clauses including notices, amendments, and entire agreement

Optional Sections

1. Portfolio Funding Provisions: Additional terms for funding multiple cases, used when the agreement covers a portfolio of claims

2. Class Action Provisions: Specific provisions for class actions, including class representative obligations and settlement distribution

3. After-the-Event Insurance: Terms relating to ATE insurance if required as part of the funding arrangement

4. Security Arrangements: Provisions for security over claim proceeds, used when additional security is required

5. Third Party Rights: Rights of law firms or other third parties, used when third parties have direct rights under the agreement

6. Cross-Border Provisions: Additional terms for multi-jurisdictional litigation, used when claims involve multiple countries

Suggested Schedules

1. Schedule 1 - Budget and Funding Schedule: Detailed litigation budget and timeline for funding drawdowns

2. Schedule 2 - Success Fee Calculations: Detailed calculations and examples of the success fee in different scenarios

3. Schedule 3 - Claim Summary: Description of the funded claim(s) and key litigation details

4. Schedule 4 - Appointed Legal Representatives: Details of the law firm and key lawyers handling the litigation

5. Schedule 5 - Reporting Requirements: Format and frequency of case updates and financial reporting

6. Schedule 6 - Due Diligence Materials: List of documents and information reviewed by the funder

7. Appendix A - Power of Attorney: If required, form of power of attorney for specific actions

8. Appendix B - Form of Drawdown Notice: Template for requesting funding drawdowns

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