Jurisdiction(s):
United Kingdom

Key definition

Fund definition

What does Fund mean? In legal practice, a fund is a defined pool of money or other property that is held or set aside for a particular purpose or for specified beneficiaries. It may comprise an estate or any property held for the benefit of a person or class, and includes any fund to which a trustee or personal representative (executor/administrator) is entitled in that fiduciary capacity. The term is generally descriptive and context-dependent; where used in instruments (trust deeds, wills, court orders) or in specific regimes (for example pensions or investment schemes), its scope is determined by that document or by...

Insolvency litigation funding: seed and portfolio models—key features, benefits, risk allocation and structuring considerations for insolvency practitioners and dispute lawyers

Published by a LexisNexis Restructuring & Insolvency expert

Practice notes

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...

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Mark Beaumont

Annecto Legal Ltd

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...

Web page updated on 21/05/2026

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