Last Updated July 15, 2019

Law and Practice

Contributed By Pérez-Llorca

Authors



Pérez-Llorca Pérez-Llorca has a Litigation & Arbitration practice in both its Madrid and Barcelona offices. The team is composed of eight partners, two counsel and 35 other qualified lawyers. Lawyers act for clients before all legal forums throughout Spain, and focus on both commercial litigation and international and domestic arbitration. The firm has extensive experience in defending clients’ interests before the Public Administrations, and before the CJEU (Court of Justice of the European Union). The lawyers have broad experience in complex cases relating to corporate issues, shareholders’ disputes, directors’ liability, contractual disputes, unfair competition, intellectual property, energy, construction, engineering, insurance, banking, tort liability, privacy and personal image, and restructuring and insolvency.

In the Spanish legal system, litigation funding is permitted with no restrictions, but it has not yet been specifically regulated. Litigation funds arrived to the Spanish market very recently.

All kind of lawsuits are available for third party funding, but litigation funds that are already established are focused on arbitration and commercial litigation cases.

Even though resorting to third party funding is more common for plaintiffs, defendants can also seek to fund a counterclaim or their defence against the plaintiff.

There is no pre-established minimum and maximum amount, which leaves the decision of funding a certain claim up to the third party funder, who decides on the basis of their commercial interests. Many of the litigation funds require a minimum amount of between EUR8 and EUR10 million.

A third party funder can consider funding all legal fees required to pursue a claim before the court, such as lawyer, court agent, and expert fees, in addition to all necessary expenses incurred during the proceedings as well as the other party’s expenses in the event that there is an award on costs.

Lawyers’ fees may be agreed on a contingency basis, and Spanish law does not restrict this in any way. However, it is not common to agree on contingency fees except in labour cases, where it is the usual practice.

There are no time limits for obtaining third party funding.

Pérez-Llorca

Paseo de la Castellana, 50
28046 Madrid

+34 91 436 04 20

+34 91 436 04 30

info@perezllorca.com www.perezllorca.com
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Authors



Pérez-Llorca Pérez-Llorca has a Litigation & Arbitration practice in both its Madrid and Barcelona offices. The team is composed of eight partners, two counsel and 35 other qualified lawyers. Lawyers act for clients before all legal forums throughout Spain, and focus on both commercial litigation and international and domestic arbitration. The firm has extensive experience in defending clients’ interests before the Public Administrations, and before the CJEU (Court of Justice of the European Union). The lawyers have broad experience in complex cases relating to corporate issues, shareholders’ disputes, directors’ liability, contractual disputes, unfair competition, intellectual property, energy, construction, engineering, insurance, banking, tort liability, privacy and personal image, and restructuring and insolvency.

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