Third party

The third-party litigation funder that stepped in late in the day to fund the appeal in the £14bn Mastercard consumer claim is backing the entire case. We also have news from funders IMF, LCM and Burford.

An online funding platform has recruited 200 high net-worth individuals to back commercial litigation cases in the UK and is employing litigation analytics to support its work.

Difficulties in obtaining legal aid funding in discrimination law cases has created insurmountable barriers, leading to a denial of justice, new research has found.

Funding platform CrowdJustice has launched a private, invitation-only fundraising tool that it says will allow a broader range of clients to afford legal services.

LawWorks and the Personal Support Unit are two of first recipients of grants from Therium Access, the not-for-profit funding initiative from the litigation financier aimed at facilitating access to justice.

Listed City law firm Rosenblatt has outlined the “major market opportunity” it sees in backing clients’ litigation through its own funding subsidiary, particularly those worth £15m or more.

The Arkin cap should not be applied automatically in all cases involving commercial litigation funders, the High Court has ruled in deciding that a funder should be fully liable for a successful party’s costs.

Burford Capital has raised nearly $300m (£230m) for a new fund aimed solely at post-settlement matters. The funding will be put to “monetising a claimant’s settlement and other associated legal receivables”.

A litigation funder launched this week is to use artificial intelligence to carry out a risk analysis of the small to medium-sized claims it intends to back.

Litigation funder Therium has raised record new backing of £325m as demand for finance continues to grow. We also round up other industry news, including funders opening offices in Israel and Canada.