FAQ

Frequently asked questions about what we offer

If you have any questions about the individual products, it is worth having a look here. As we have put together a few frequently asked questions and the corresponding answers for you. Our FAQ are divided into the three product areas of litigation funding, monetisation and shelf companies.

What is litigation funding and how can you benefit from it?

Litigation funding can help you to enforce a claim, even if you are lacking finances to cover all the costs of your litigation. We examine your case and pay all the costs of litigation. If you win the case, FORIS receives a share of the achieved revenue, after the costs have been balanced. If you lose, FORIS will cover all costs. Further information about the necessary steps and advantages can be found here.

In which cases and under what conditions does FORIS finance litigations?

FORIS examines, swiftly and free of charge, the opportunity of financing your costs of litigation. The requirements are:

  • Pecuniary claims exceed EUR 100.000
  • Your lawyer recommends litigation
  • The claim’s prospects are profoundly promising
  • The liquidity of the opposing side has to be asserted by FORIS

Does FORIS also accept cases which are already issued?

Yes. It is still possible to finance litigation after the lawsuit has been filed. Generally, litigation financing can be requested at any time or stage.

We recommend you contact us as soon as possible by phone. This way we will be able to discuss two important points in advance: what stage is the lawsuit currently in and what documents are required for our examination. You can contact us under + 49 228 95750-50. Generally, litigation financing can be requested at any time or stage.

Which lawyer will execute the litigation?

The lawyer who was appointed by the claimant. The claimant has free choice of lawyer. After signing the litigation financing contract, the case will be continued by the claimant’s chosen lawyer. FORIS essentially remains in the background but is available to provide help, knowhow, support and guidance.

What kind of situation may occur in the case of a proposed settlement either by the defendant or by the court?

If the court or defendant proposes an out–of-court settlement, we will discuss this with the assistance of your lawyer. If one of the contractual parties is against an out-of-court agreement, and therefore no consensus can be reached, it is possible to rearrange the contractual cooperation. This means, the quitting contractual party is compensated with a premium equal to the amount offered by the out-of-court settlement. Thus, the remaining party can from now on enforce the claim on its own behalf.

Does FORIS also finance claims in foreign matters?

Yes. For several years, FORIS has financed litigations in Germany, Austria, Switzerland, Liechtenstein and the USA. For cases which are issued in none-German-speaking countries, we will require information about the court and the language in which the case is pursued. Additionally, we have to know in which country the defendant is registered and located.

Does FORIS also finance arbitration?

Yes. FORIS finances national and international arbitration cases, given that they are pursued in German or English.

What are the advantages of litigation financing over governmental legal aid? (e.g. PKH in Germany)

Litigation financing is suitable for everyone, independent of their financial situation. Governmental legal aid (GLA) can usually only be claimed by people who are legally declared to be indigent. If you receive GLA, you have not endowed anything. The GLA will only be lent. When your financial situation improves, the state will demand a refinance. Yet, even for these claimants, litigation financing can offer advantages over governmental legal aid: unlike governmental legal aid, litigation financing will defray all occurring costs, i.e. even costs which accrue due to reimbursement claims of the defendant in case of a loss. Furthermore, the entrusted lawyer will get full compensation for his efforts while governmental legal aid will only pay a fraction of the emoluments.

What characterises FORIS in comparison to other litigation financiers?

FORIS is the inventor of litigation financing – since 1998. It therefore possesses a considerable amount of experience and expertise and supervises financed lawsuits with a lot of effort and commitment. Moreover, FORIS is a discrete and publicly traded company, independent of parent companies in its decision making. A possible conflict of interest, which is common in the insurance business is therefore eliminated.

How much does the pre-examination cost?

The complete pre-examination is free of charge for you. This includes the estimated probability of success and the utilisation of the company's internal risk-filter. However, a requirement hereto is that the request is submitted by a lawyer who was entrusted with the supervision of the claim. Claimants who are requesting litigation financing directly are recommended to contact a lawyer of their choice as soon as possible. We will gladly help you with your search for an appropriate solicitor.

Is FORIS entitled to resign from the contract?

If the prosecution of the litigation does not seem promising, for example in the case of amended jurisdiction or interim bankruptcy of the defendant, FORIS is entitled to resign from the financing.

What kind of costs may be inccured by the claimant?

After the contract has been established, the claimant does not have to personally compensate for any costs which are associated with the enforcement of the case. This is also the case if a favourable title cannot be realised.

What will FORIS be awarded in the case of success?

The margin share going to FORIS will be negotiated individually with you in advance. Among other factors, it depends on the claimed amount, as well as on the economical and juridical risk attached to the individual case. The minimum percentage of revenue awarded to FORIS is 10% in the most favourable cases. FORIS will provide you with an offer which will suit the wishes and aims of the claimant.

What costs does FORIS cover?

FORIS will pay all costs of litigation which accrue after conclusion of our contract. This includes: costs of the lawyer and court fees, costs of taking evidence, as well as reimbursement claims of the opposing party. For legal fees of the defendant and court costs, we place the statutory rates. In Germany, this would be RVG and GKG. Individual agreements on the scope of our cost cover are available and depend on claimant wishes and the individual case. The costs of submission and preparing the litigation financing application are not covered by FORIS in advance.

How long does the examination of my application take?

The duration of the examination depends on the individual case, as well as on the completeness and scope of the documents provided. Our checklist for litigation financing can help you to speed up this process.

What kind of documents need to be provided for your case examination?

We usually require a draft of the written lawsuit or a legal opinion from a lawyer, as well as the correspondence from the defendant. Furthermore, data about the creditworthiness of the defendant is very helpful. Do not hesitate to contact us by phone (+49 228 95750-50), because this question can be answered in detail based on the specific case description.

 


Are there any costs tied to the examination of the financing request?

No. Our examination is completely free.

Contact - we are there for you
Your contact person
Nadja Furth
Nadja Furth Legal Assistant
Contact - we are there for you
Your contact person
Nadja Furth
Nadja Furth Legal Assistant