Munich, June 30, 2019
AEQUIFIN: That is the name of a new company that is now offering an innovative way of financing legal proceedings in Germany. The company today launched an online marketplace for litigation funding after already launching a beta version. This means that the online marketplace is now also publicly available. Under aequifin.com, litigants, lawyers and funders are connected with each other to enforce legal matters. Private individuals and companies are thus supported in accessing the legal system. AEQUIFIN is based in Grünwald near Munich and in Hamburg.
"Anyone involved in or planning a legal dispute can use our platform to win the support of third parties to cover their legal costs," says Kim Kardel, Managing Director of AEQUIFIN. "The funders can support litigant’s legal issues with or without a share in the litigation proceeds. In addition, litigants who do not yet have a lawyer for their case will have access to lawyers using aequifin.com."
Participation in the legal costs takes place via a bidding system that enables the financing of a case with one or several sponsors. "This creates a maximum of transparency and efficiency in bringing supply and demand together," says Kardel. "Single funding or a funder consortia of all sizes can be formed and different types of cases can be supported. In addition to financing their legal proceedings, litigants and sponsors can also use our platform to find specialists with economic, media and legal know-how to support their case". Financing in combination with case-specific expertise are important factors in successfully managing a case. "AEQUIFIN will now make access to these success factors much easier and more efficient for litigants and sponsors," says Kardel.
And this is how it works: A litigant plans a legal dispute. On the AEQUIFIN platform, the litigant's lawyer or the corporate litigant describes the case in detail. Funders can then use the platform to make an offer and specify the conditions they would like to participate in financing the case. If the case is won, the litigation proceeds are shared in accordance with the agreed terms.
AEQUIFIN starts with a handful of interesting cases, which are displayed on the platform depending on visibility and confidentiality settings