Funding for client legal fees and expropriation-related expenses helping to facilitate access to justice
Recently, one of the fastest growing and most successful franchise locations of a national restaurant chain found itself expropriated to make way for a large infrastructure project. With only three months’ notice, they had to find legal representation and relocate their business — and BridgePoint Financial’s Expropriation Financing was there to help advance their claim for fair compensation and cover the significant costs associated with expropriation.
Like many of BridgePoint’s products, Expropriation Financing addresses an important access to justice issue by helping to level the playing field. Funding for legal fees, experts, and expropriation-related expenses is a significant differentiator when it comes to the value of any claim. Clients do not have to settle for less due to cashflow-related issues or pre-existing financial obligations, taking the pressure off the client and, by extension, the expropriation lawyer themselves. An added benefit is that funding is available at little or no cost to the client, as current legislation provides for the recovery of costs incurred to determine compensation. As part of their service, BridgePoint also collaborates with an ever-growing network of expropriation lawyers, providing business development opportunities to law firms with appropriate referrals based on each client’s specific situation, and can also introduce clients to high quality experts.
In the case of the national restaurant franchise, BridgePoint connected the client with an expropriation lawyer, and they were able to recover financial losses with the first round of funding and relocate with the second. They have successfully reopened their business and are now fully operational. This restaurant owner represents the majority of BridgePoint’s clients to date: businesses looking to recoup losses and restore financial stability.
BridgePoint has seen its services ultimately put businesses in much stronger financial positions, including many that have been negatively impacted by the delayed Eglinton Crosstown light rail transit project in Toronto. A prime example is a restaurant franchise location that was completely obstructed by the construction, causing a drastic downturn in business that ultimately led to eviction due to revenue-related issues. In this case, BridgePoint referred the client to a lawyer appropriate for the case and funded her legal and expert fees. With the support of two rounds of funding, her case is moving forward toward resolution.
BridgePoint has also helped the owners of a large heritage property who found themselves in deep financial trouble as a result of expropriation. With their file tied up for years, the client needed to expedite their claim to rescue their business interests. BridgePoint collaborated with their legal counsel and provided funding to accelerate the process and assist with experts, operating expenses and legal fees, providing an effective, holistic approach to moving the claim toward resolution and getting the client appropriate compensation.
As Canada continues to experience a period of booming infrastructure spending, the need for property continues to grow. Unfortunately, this can come at the cost of people’s homes and businesses, which for many represents their most valuable asset. It is becoming increasingly critical that those suffering the consequences of expropriation are aware of their rights and all available options — and understand how BridgePoint’s Expropriation Financing is a highly effective solution for providing claimants and their lawyers the time and resources required to negotiate a full and fair settlement for their cases.