Most Pequod recovery work is undertaken on NWNF terms. Fees are available upon request.
Almost 95% of Pequod subro work is successfully concluded with little or more usually no third party expenditure by way of lawyers or experts.

In circumstances where services external to Pequod are required:
• Usually to protect time limits or address specific circumstances of loss
• Such legal or expert expenditure is costed prior to instruction
• Upon client approval such costs will seek to be recovered from counter parties
• Any unrecovered costs will be deducted from the gross recovery before application of Pequod fee

Since development of our product in 2017 Pequod has funded almost USD 2 million in legal, counsel, expert and tribunal fees to enable cases with recoverable merit to proceed in circumstances where a client lacks either the appetite or cash flow to fund counter party recoveries.

The product attracts an enhanced contingency fee (charges provided on a case by case basis) but allows suitable recoveries to be run in otherwise cost prohibitive jurisdictions such as England, Singapore or South Africa.

The product has been of particular interest to insurers not wishing to maintain open-ended costs reserves, assureds who underwriters do not support their insurance or subrogation claim and clients are simply not prepared to fund full litigation or run the risk of exposure to counter party cost claims.

Pequod offers a range of “funding-lite” options.

These typically involve only a modest increase in the usual Pequod contingency fee in return for Pequod fronting certain fixed legal and expert expense as a means of driving recoveries more quickly to conclusion.

On such “funding-lite” modelling Pequod would be made whole on such third party expenditure, deducting such expenses from any gross recovery and charging an enhanced fee on the net balance.

The model is particularly attractive to insurance subscription markets (where advance collection of funds can be laborious), captives and high retention assureds.