International firm first off blocks to build student group action over university strike

Shimon Goldwater

A law firm is attempting to build a group action to win compensation for students who miss out on teaching time due to the ongoing university lecturers’ strike. The firm anticipates that others will attempt to build similar actions, but with the large number of students potentially affected, “there’s enough cake for everybody to have a slice”.

March 20th, 2018

Big win for NHS Resolution in test cases on pre-LASPO funding switches

Helen Vernon NHSLA

The Court of Appeal has found for NHS Resolution in three test cases over the reasonableness of solicitors switching clients from legal aid to conditional fee agreements ahead of the introduction of LASPO. NHSR said the ruling saved it £270,000 in these three cases – all run by Irwin Mitchell – and potentially millions more in other cases.

March 16th, 2018

Burford on march but warns that “preoccuption” with adverse costs makes London less attractive

City of London insignia

The world’s biggest litigation funder, AIM-listed Burford Capital, yesterday unveiled spectacular results for 2017, with net profit after tax up 130% to £190m and new investments totalling nearly £1bn. It predicted that Brexit would be positive for the company, and also warned that the “English preoccupation” with adverse costs was making this jurisdiction less appealing anyway.

March 15th, 2018

Burford sells £9m investment for £77m as it grows secondary litigation funding market

Chris Bogart colour

Leading litigation funder Burford Capital has sold a £9.3m investment in a successful arbitration for £77m while a bid to annul the award is ongoing. It said the sale would lock in its gain on the investment and accelerate cash recovery to enable reinvestment of the capital.

March 13th, 2018

Burford launches insurance company to cover costs in high-value claims

Chris Bogart colour

Burford Capital has announced that it is to launch its own insurance company to provide adverse costs cover in high-value commercial litigation and arbitration claims where it is also providing third-party funding. It is designed to meet a need for “significant levels of adverse costs cover for major cases in costs-shifting jurisdictions around the world”.

March 8th, 2018

High Court reassures nervous litigation funder that it will get its £56m payout


The High Court has reassured third-party funder Harbour Litigation Funding that it will receive a £56m recovery from a successful case it backed, after joining the action over concerns that it would not be paid. If an agreement to pay the money was not fulfilled, Mr Justice Picken said the funder could come back for a court order.

March 2nd, 2018

Therium raises £300m as litigation funding opportunities continue to grow

Noel Edmonds

Third-party funder Therium has completed the first close of its new £300m, its largest fund to date. The first close is at £200m with a further £100m expected before final close. The investors include both Therium’s existing major investor and new global institutional investors.

February 16th, 2018

Investors increasingly attracted to third-party funding, law firm’s research finds

Geraldine Elliott RPC

The top 20 UK independent litigation funders now hold assets of just over £1bn, a 42% increase in just 12 months, according to research by City law firm RPC. It attributed the rise to continued investment from private equity firms and hedge funds in “this increasingly popular alternative asset class”.

February 14th, 2018

“Regretful” Court of Appeal rejects media firm’s bid to recover huge costs bill

Michael Radford

The Court of Appeal has upheld a decision that a leading media law firm could not recover hundreds of thousands of pounds in costs because its conditional fee agreement did not cover much of the work it undertook. Lord Justice McCombe said he rejected the appeal “not without regret”.

February 8th, 2018

Deed of indemnity plus ATE enough for security for costs, but not to release solicitors from undertakings


A deed of indemnity from an after-the-event insurer was a sufficient replacement for security for costs, the High Court has ruled, but it did not release their solicitors from undertakings given previously in lieu of an order for security.

February 5th, 2018


Here today, gone tomorrow

Andy Talbot Arag

In 2016, it was AU Insurance Services. Last summer, it was Elite Insurance Company. Already in 2018, New Zealand’s CBL Insurance Limited has collapsed, leaving Alpha Insurance A/S in solvent liquidation and run-off. Often, it seems, these failures impacting the legal expenses sector get associated with the after-the-event insurance market, somehow remote from the majority of brokers. But most legal expenses underwriters, wherever they are based, will have feet in both after- and before-the-event camps. The precise causes and circumstances of these failures (and the several others that have occurred in between them) may be very different, but they have all left brokers, other intermediaries and their clients in the lurch.

March 15th, 2018

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