UK litigation funders holding record £2bn of assets on balance sheets
The value of the pipeline of court cases and cash held by the top UK litigation funders has increased to a record of £2bn, City law firm RPC has reported.
Leading litigation broker launches $1bn fund after being acquired
Leading litigation finance broker TheJudge has been bought by insurance company Thomas Miller and launched a new funding business with access to more than $1bn in capital.
Solicitor fined for failing to disclose counsel’s opinions to ATE insurer
An experienced solicitor who failed to disclose two counsel’s opinions on a case to an after-the-event insurer, one of them assessing chances of success at less than 50%, has been fined £8,000.
Man order to cover half of costs paid by co-claimant’s ATE insurer
A man who was jointly liable for costs that were covered by his co-claimant’s after-the-event (ATE) insurance has been ordered to reimburse half of the payment to the insurer.
Insolvent legal expenses insurer disclaims ATE policies
The joint administrators of former legal expenses insurer Elite Insurance – which worked with over 200 law firms – have disclaimed all but two of its active after-the-event insurance policies.
Solicitor fails in bid to recover costs after terminating CFA
The High Court has upheld a decision that a solicitor was not entitled to recover costs of £12,600 he said were owing after he terminated a conditional fee agreement.
Contingent and third-party funding on the up at Rosenblatt
City firm Rosenblatt is ramping up its use of contingent funding agreements, while its litigation finance arm has now invested in nine cases, the listed business’s half-year results have shown.
Defendant’s “potential exposure” not relevant to security for costs
A defendant’s potential exposure to paying the premium for after-the-event insurance necessary to meet its demand for security for costs was “not relevant” to the question of security.
