Mark Beaumont
Mark graduated in 1999 from the University of Manchester with a 2:1 in Economics. After a successful career in business consultancy Mark entered the legal world in 2009 with a focus on legal costs and retainer agreements. He is now a regular contributor to publications in both the legal and insolvency sector, as well as speaking about funding, insurance and risk management at conferences and training events.
Since 2010 Mark has been a member of the Executive of the Commercial Litigation Association (CLA): The UK’s only national body representing the diverse interests of stakeholders in the dispute resolution sector.
In 2013 Mark Beaumont and Sally Dunscombe established Annecto Legal Ltd to broker litigation funding and after-the-event (ATE) legal expenses insurance. The business has developed over the last 12 years and now also secures Assignment of Litigation for restructuring professionals, various forms of WIP insurance, seed funding for litigation investigations and various other risk management products for both IPs and law firms.
Annecto exists to help navigate the fast-moving world of litigation funding: assisting clients in preparing their case for underwriters, ensuring the right markets are approached, negotiating terms and providing a service that takes the pain out of funding and insurance.
Practice Area
Panel
- Contributing Author
Experience
- Annecto Legal Ltd (2013 - Present)
- Just Costs Solicitors (2009 - 2013)
Membership
- Commercial Litigation Association
Qualification
- BA (hons) Economics 2:1 (1998)
Education
- University of Manchester (1998)
2 Contributions by Mark Beaumont
PRACTICE NOTES
Insolvency litigation funding: seed and portfolio models—key features, benefits, risk allocation and structuring considerations for insolvency practitioners and dispute lawyers
Funders regard insolvency disputes as compelling for the following reasons:
claims typically display clear causation and are underpinned by strong documentary evidence and records
insolvency practitioners (IPs), acting as officers of the court, bring credibility and rigour to the process
financial recoveries can be substantial, especially in cases involving director misconduct or asset tracing
This Practice Note discusses seed funding and portfolio funding in detail. For further reading on third party litigation funding more generally, please consult the following Practice Notes set out below:
Third party litigation funding—a guide for dispute resolution practitioners
Third party litigation funding for insolvency practitioners
Third party litigation funding process for insolvency practitioners
Funding and litigating a claim vs selling or assigning a claim
Litigation funding agreements—pricing
Litigation funding agreements—adverse costs and security for costs
Litigation funding agreements—drawdown processes
Litigation funding agreements—representations and warranties
Litigation funding agreements—control
Litigation funding agreements—termination clauses
Litigation funding agreements—change of legal teams
Litigation funding agreements—dispute resolution
Litigation funding agreements—priorities agreements
Litigation funding agreements—investment top-ups
Litigation funding agreements—co-funding
Seed funding
Seed funding is the early-stage capital a funder supplies in order to investigate, assess and initiate legal proceedings. Unlike full litigation funding, which spans, in principle, the whole lifecycle of a...
Restructuring & Insolvency
PRACTICE NOTES
Insurance alternatives to third‑party funding in insolvency claims: WIP and own costs cover, creditor capital protection and ATE
Insolvency practitioners (IPs) will recognise the established routes to finance claims, such as conditional fee agreements (CFAs), damages-based agreements (DBAs), third party funding, creditor-backed funding, assigning a cause of action, and after-the-event (ATE) insurance. See: Funding of insolvency litigation and investigations—overview. Yet, for many, the burgeoning practice of using insurance to mitigate not only adverse costs and security for costs but also their own spend is less well known. ATE providers have broadened their offerings to cover own disbursements, counsel’s fees, solicitor’s fees, and the work in progress of restructuring specialists. From 2013, the insolvency litigation funding landscape has had to respond to sweeping changes under the Legal Aid, Sentencing and Punishment of Offenders Act 2012, including the non-recoverability of CFA success uplifts and ATE premiums from the losing side (implementation for insolvency cases was postponed until April 2016). As with significant regulatory shifts across sectors, this prompted experimentation, with mixed results. Since 1 October 2015, when section 246ZD of the Insolvency Act 1986 took effect, the most notable expansion has unquestionably been the growth in the use of such solutions across the market, with particular emphasis on insurance-backed approaches and alternative funding structures continuing to gain traction in the...
Restructuring & Insolvency
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