Third party

Class action law firm PGMBM has secured a £45m funding facility from alternative investments firm North Wall Capital to pursue claims across the world.

The fact that trainee solicitors are qualifying with a litigation funder shows how the industry has expanded over the last 12 years, a senior director at Harbour has said.

Listed funder Litigation Capital Management has secured further investment capital after agreeing a $50m (£36m) credit facility from Northleaf Capital Partners.

Apex Litigation Finance – one of the funders targeted at small and medium-sized claims – invested in 32 cases in its first year, with anticipated claim values ranging from £30,000 to £27m.

The largest institutional shareholder in Burford Capital has taken a major position at Manolete Partners after a unsettled few weeks for the insolvency litigation funder.

London firm Mishcon de Reya, with financial backing from funder Harbour, has filed a collective claim worth almost £600m against BT over alleged historic overcharging for landlines.

A principle that a defendant receiving security for costs from a claimant’s litigation funder should not have to provide a cross-undertaking in damages will improve the funding market, the Court of Appeal has ruled.

Claimant representatives have hailed the Supreme Court’s ruling in the Merricks collective action case as a “pro-claimant and pro-litigation funding decision” which reinvigorates the regime.

Insolvency litigation funder Manolete Partners has had a strong lockdown, with revenue, profit and new case investments all rising sharply, its half-year results have shown.

A host of well-known litigation funders have signed up to an industry wide initiative to develop model funding documentation, launched by the London office of US law firm Brown Rudnick.