The government needs to be sure that allowing hybrid damages-based agreements will not encourage abuse by lawyers, such as speculative litigation, the lead civil servant has warned.
Changes to the damages-based agreement (DBA) regulations, including opening them up to defendants and allowing hybrid DBAs, have been put forward by an independent review.
Burford has launched proceedings against the London Stock Exchange to force it to reveal the identities of market “manipulators” who wiped almost £1.7bn off the value of its shares last month.
The Law Society could maintain a list of solicitors willing and able to act for legal expenses insurers and even negotiate fee levels, the International Bar Association has suggested.
After-the-event insurers should consider lowering the merits test if they want to attract more commercial work, senior litigators have suggested.
Expansion of the market for standalone before-the-event legal expenses insurance is being held back by “lack of understanding” among consumers as to what it covers, a report has concluded.
Global firm Eversheds Sutherland has launched ‘Total Dispute Finance’ in a push that it says has already attracted high-value work from competitors.
Augusta, which claims to be the UK’s largest litigation and disputes funder by case volume, has unveiled its latest fund raising, bringing in $115m (£93m) from an unnamed US-based investment manager.
AIM-listed litigation funder LCM received 419 applications for funding in its last financial year, an increase of 235% – but only agreed to fund 3% of them – its annual results have shown.
Litigation funder Vannin Capital – which last year shelved a stock market listing – has now been bought by US investment manager Fortress, which is owned by Japan’s SoftBank.