From leading claims consultant to leading funder of disputes
This month we officially launch our latest and biggest fund to date, allowing us to finance more legitimate claims for our clients than ever before.
The ongoing need for more support in construction claims
Dubbed ‘Anaconda’, this fund is part of our ongoing response to the changing needs of the construction industry. For many, there appears to be an underlying belief that at some point things will return to their pre-Covid state of play. However, we don’t, and never have, believed this to be realistic.
The main reason being that construction has been bursting the seams of its existing mode of operating for quite some time. The increased risk taken on by contractors has become prohibitively disproportionate, especially when set against the reality that most large construction projects include at least one claims notice over the course of their duration.
Financial support for those facing claims has been starkly missing from the industry. Litigation funding has been available for a long time, but it only seeks to support clients when a claim has reached its most costly and most binary point. What this model has never accounted for is the time and effort that goes into preparing a claim at the earlier stages with a view to finding a resolution and ultimately costing less both financially and in terms of relationship breakdowns.
Claims consultancy needs to serve its clients’ needs
Over our 30 years as construction claims consultants, we have always adopted a policy of working to meet the needs of the market. We seek to acknowledge where there are problems in the industry and aim to be a beacon for change and adaptability.
With that in mind, you may remember that we launched Quantura, our claims funding initiative, in 2018. With its great success and unprecedented level of uptake, we have since extended the service and made it available via other trusted claims consultancies around the world.
That fundamental need for a comprehensive claims funding service, as well as the events of this year, which have decimated cashflow for many contractors and subcontractors, means we have been faced with a need to grow our claims funding service in order to support our contemporaries and give those with legitimate claims a greater degree of power over their own destiny.
That’s why we set out to create a second fund, Anaconda. Bigger than any fund we have been able to offer before, Anaconda provides the funding alongside our claims consultancy expertise.
The result is a comprehensive, no-win no-fee service that gives anyone faced with a legitimate construction claim, the strength to tackle it professionally and to the highest possible standards. It works with a view to resolving claims before they reach the potentially devastating point of litigation, and allows clients to pursue proper due diligence and professional support, without being constricted by their own finances or putting their already stretched budgets in greater jeopardy.
We know this has been a challenging year for everyone in the construction industry. We know that even before Covid-19 the challenges faced in construction have been enormously daunting and stressful for many. With Anaconda, our expert team will be able to help ease the strain for more people than ever before.