The Balloon Debate - funding options for litigation

The debating powers of some of the legal world's finest minds were put to the test at Wragge & Co's Balloon Debate event.

Four legal professionals debated the funding options for litigation, a particularly important and relevant topic following the publication of Lord Jackson's report into the issue. Each speaker had just 15 minutes to make their case. The audience was tasked with deciding which of the four 'balloonists' deserved the one available space in the falling balloon so that one person could return safely to earth.

The balloonists, each representing one of four ways of funding litigation, were:

• His Honour Michael Cook - court awarded costs
• Susan Dunn (from Harbour Litigation Funding) - funded litigation
• Rocco Pirozzolo (from QBE Insurance (Europe) Limited) - after the event insurance
• James Gordon (Wragge & Co commercial litigation partner) - contingency fees.

Following round one, Rocco Pirozzolo and James Gordon remained in the balloon. After battling it out in round two, it was Rocco who returned safely to earth, successfully arguing the case for after the event insurance.

See Wragge & Co's round-up of the debate for a summary of the speakers' arguments.