By: 17 June 2014

An Irish entrepreneur is set to launch a new third party litigation fund that will target lower value cases in areas such as professional negligence, medical, Ministry of Defence and institutional abuse claims.


Gearoid O Ceallaigh is to launch Trusted Litigation Capital (TLC) in September and fund cases worth as little as £200,000, according to the Law Society Gazette.


O Ceallaigh, who has interests in hotels and property, told the Gazette that the Jackson reforms had made third-party litigation more attractive to both solicitors and investors.


He has recruited a team of 12 barristers to sit on a panel to judge the merit of cases. Accepted cases will require an exceptionally high prospect of success.


He has secured enough investment to become a member of the Association of Litigation Funders.


"We are prepared to structure it in a way where it is less risky than normal third-party funding," said O Ceallaigh.


"We only look at cases where they are commercial and where people take a pragmatic view on the outcome."