Funding

Calunius: investors find German litigation market “attractive alternative to UK”

Mark Wells Calunius

The certainty provided Germany’s legal services market makes it a viable alternative to the UK as a location for big-ticket investors, according to Mark Wells, the managing partner of Calunius Capital. Meanwhile, AIM-listed Burford Capital has raised £175m through an oversubscribed issue of bonds.

May 22nd, 2017

Third-party funding “fuelling increase in litigation against top companies”

Bank

The number of major claims against the UK’s biggest companies continues to rise, with the growth of third-party litigation funders one of the reasons, it has been claimed. It comes amidst a flurry of activity around the world that is seeing litigation funding becoming more accepted.

May 18th, 2017

FTSE-250 merchant bank enters legal loans market as options for firms multiply

Lesley Graves photo

Specialist legal loans business Novitas has been bought by FTSE-250 merchant banking group Close Brothers in the latest development in the increasingly active legal lending market that has also seen the launch of products that provide off-balance sheet lending to firms for claims, and cash flow for firms that self-fund high-value and high-cost PI cases.

May 4th, 2017

Supreme Court backs pre-LASPO recoverability of success fees and ATE premiums

Inaugural Harbour Litigation Funding Annual Lecture - 8 May 2013

The Supreme Court has ruled against three leading newspaper groups over having to pay claimants’ success fees and after-the-event insurance under the pre-LASPO regime, saying that the media’s rights under the European Convention on Human Rights were not engaged as critically as the rights of those suing them.

April 11th, 2017

Competition tribunal rejects bid to throw out first opt-out class action application

Mr Justice Roth

The Competition Appeal Tribunal has rejected strenuous attempts to dismiss the first application to certify an opt-out class action under the new collective proceedings procedure. The tribunal said the fact that the impetus for the action came from the claimant’s solicitors was not objectionable

April 5th, 2017

Supreme Court rejects narrow approach to LASPO transitional provisions on success fees and ATE

Lord Sumption

The Supreme Court has allowed the recovery of a pre-LASPO success fee and after-the-event premium where the conditional fee agreement and insurance had to be extended after 1 April 2013 to cover appeals, in a significant ruling on the Act’s transitional provisions

March 29th, 2017

Burford unveils sharp increase in profits but warns over lack of ATE for big cases

Chris Bogart colour

Litigation funder Burford Capital has announced a 75% increase in net profits for 2016, taking the figure to $115m (£95m), while warning the government that the Jackson reforms had made it impossible to provide after-the-event (ATE) insurance for “large and complex” commercial cases.

March 14th, 2017

ATE insurer escapes £320,000 costs liability because of policy breaches

insurance policy - claim rejected

An after-the-event insurer has escaped liability to pay out £320,000 after the High Court found that its insured had breached four conditions precedent in the policy relating to claims co-operation, information provision and associated clauses.

March 7th, 2017

CFA of claimant signed up in pre-LASPO rush ruled unenforceable

2013 year calendar. April. Isolated 3D image

A law firm which was instructed in the run-up to LASPO coming into force failed to take any substantive steps in the case before 1 April 2013 and as a result their conditional fee agreement fell foul of the Act’s transitional provisions and was unenforceable, a district judge has ruled.

March 3rd, 2017

CJC launches BTE working group as top insurer warns that premiums may rise

Picture by Clint Randall www.pixelprphotography.co.uk

The role which before-the-event legal expenses insurance might play in improving access to justice is to be examined by a working group set up by the Civil Justice Council. BTE is to become more prominent in the wake of the government’s personal injury reforms, with one leading insurer predicting an increase in both demand and premiums as a result.

March 1st, 2017

Blog

Fixed recoverable costs: unfair and wrong in principle?

Alex Bagnall

Are fixed recoverable costs inevitable? On 11 November 2016 it was announced that Jackson LJ was to consult on the extension of fixed recoverable costs. That announcement was clear: those involved were to “look at options to extend fixed recoverable costs much more widely”; and to “develop proposals for extending the present fixed recoverable costs regime”. It was said that “the momentum is heavily for reform” and that the purpose of the review was to provide “opportunity for comments and submissions on the form and scope that reform should take”.

April 18th, 2017

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