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.
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.
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.
The Court of Appeal has today saved damages-based agreements by ruling that they are not unenforceable if they provide that the client has to pay incurred costs and expenses on termination.