A High Court ruling refusing to set aside £4.3m judgment in default in a suppressed sales case shows the strength of the litigation funding model used by Manolete Partners, it has been argued.
The High Court has ordered the wife and mother-in-law of a Kazakh businessman, the subject of a “very substantial fraud claim”, to pay the claimants’ costs bill of over £12m.
The market of clients using litigation finance through choice rather than necessity – especially companies looking to offload their liability for portfolios of cases – remains “almost entirely unaddressed”.
A firm of insolvency practitioners which contributed almost £500,000 to fund a liquidator and former company’s claim against its directors has been ordered to pay the same amount in third-party costs.
Manolete Partners, the litigation funder specialising in insolvency, has invested in more cases in the first six months of its current financial year than in the whole of the previous 12 months.
Nine legal organisations – including the Child Poverty Action Group and Bar Human Rights Committee – have received grants from Therium Access, the not-for-profit funding initiative from the litigation financier.
Agreements with third-party litigation funders are not damages-based agreements, the Competition Appeal Tribunal has ruled. It also supported the Association of Litigation Funders’ code of conduct.
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.
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.