Jolyon’s “Authorized Defence Fund” Will Run Out if Losses Proceed
Jolyon has printed the Good Legislation Mission’s (GLP) long-awaited annual report for 2021-22. The excellent news for Jolyon is he’s raked in a file variety of donations, with “a minimum of 61,445 folks” throwing their cash down the drain prior to now 12 months. The unhealthy information is that if the GLP lose all their impending instances at their regular fee, they’ll have to interrupt into their emergency struggle chest:
“In abstract, we’ve estimated potential internet liabilities of £3.2 million throughout our litigation portfolio in opposition to our Authorized Defence Fund of £2.0 million. Nevertheless, we don’t count on to combat and lose all these instances in our portfolio and, as they’re ongoing, we count on to have the ability to fundraise additional because the litigation progresses.”
They ended the 12 months with £2.1 million basically reserves, which they declare is used “to supply working capital and permit us to grab alternatives and climate operational setbacks“. The £2 million they’ve earmarked for authorized fights received’t cowl the potential whole price of their losses, so Jolyon should raid his struggle chest if issues proceed to go south. Jolyon’s observe file of shedding 81% of his instances might not guarantee donors that the GLP is in fine condition, and there’s nothing to fret about. Nonetheless, as he factors out, he’s counting on extra patrons parting with their cash…
