Everyone’s a winner with claims funding
It’s been a little while since we wrote about our claims funding service. The truth is, we’ve been busy putting our money where our mouths are. However, we thought you might like to know how it’s working out for our clients.
What is claims funding?
To recap, we launched our first fund to finance the preparation of well-considered and well-prepared claims for clients in the UK in 2018. The fund was called Quantura, and it was a fully capitalised $7 million fund, offering full non-recourse, off-balance sheet funding solutions for claims of all sizes.
Following Quantura’s’s unprecedented success, by 2020 the fund was fully subscribed. That led us to develop our second and largest fund; Anaconda, which is available to clients with legitimate claims around the world, and supports professional pathways to resolution.
Does it work?
Now obviously, it’s not enough to fund a claim – there needs to be a little knowledge around what you’re doing as well – otherwise no one would provide the funding. Fortunately, our team are pretty good at what they do, and with a sizeable number of disputes rolling through our doors in need of resolution, we’re proud to say that so far, we’ve been successful in every one.
It’s been an extraordinarily hard time for the construction industry, and with the rising costs of materials on an almost daily basis, the environment is primed for frayed nerves and tense relationships. In order to keep the construction industry moving there has to be a realistic pathway to resolving the issues that will inevitably occur.
Of course, claims consultants and management consultants around the world have been working to that end for many years, Tungsten Capital included. However, where stalemates occur, projects stall and relationships unravel irrevocably is in the monumental cost, both in terms of time and capital resource, that it takes to go through the information, present a claim coherently and to maintain enough emotional distance to reach a realistic outcome for all parties.
“We knew when we began our claims funding service that the industry needed a levelling influence to redress the balance when it came to shouldering risk on a construction project. Since then, the risk to all parties has continued to grow. Claims funding, combined with expert claims consultancy, is the best way to help all parties reach a resolution and move forwards. Due to the demand and success of the venture, it’s an area that we are continuing to grow.”– Tungsten Capital CEO, Peter Elliott
If you would like to discuss our claims funding service to see if it is right for you, you can contact your local Tungsten Capital team on the link below.