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.
Barristers are under no duty to advise clients on litigation funding unless specifically instructed to, and do not then assume “a continuing duty” to keep it under review, the High Court has held.
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”.
Solicitors handling low-value PI claims since LASPO should have undertaken risk assessments before setting success fees – rather than just applying 100% across the board – the Court of Appeal has ruled.
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.
Solicitors who terminated their retainer “peremptorily” without investigating the circumstances of evidence that might have thrown the case into doubt have lost their claim to £8,000 in fees.