Targets construction disputes, insolvency claims, other commercial disputes with “tens of millions of pounds in claims failing to be recovered every year”
Alba Claims, launched on the 11th October 2017 aimed at helping Scottish businesses pursue commercial claims. Uniquely positioned to advise and engage in relation to construction disputes, insolvency claims and other commercial disputes, Alba Claims has been set up in response to market feedback and industry research indicating that tens of millions of pounds in claims fail to be recovered every year.
Alba Claims, co-founded by Anderson Strathern chair Bruce Farquhar and solicitor advocate Alistair Dean, enables clients to pursue commercial cases on a ‘no win no fee’ basis with Alba Claims sharing the risk by way of a success fee. Clients of Alba Claims will have access to Anderson Strathern for related legal services.
Market feedback carried out by Alba Claims indicates that business owners often fail to pursue claims because of the actual or expected drain on resources experienced when funding a court claim and the uncertainties associated with embarking on a legal process.
Founding director, Alistair Dean, said: “It’s often the case that claims are not pursued either because businesses are not in a financial position to fund the claim or consider that their finances can get a better return elsewhere. We want Alba Claims to help level the playing field and reduce the uncertainties of dispute resolution while removing the requirement to pay legal fees on an ongoing basis.”
Alba Claims anticipates a high level of interest from the construction sector and insolvency practitioners in particular, in addition to other industry sectors, and has already generated around £1m of claims that are being pursued.
Bruce Farquhar, Alba Claims founding director, said: “The funding of litigation in Scotland is changing rapidly and we see Alba Claims being at the forefront of these changes by offering an innovative means for clients to pursue commercial claims. In supporting this new venture, Anderson Strathern has demonstrated its increasingly entrepreneurial approach to the delivery of legal services.”