Expansion of the market for standalone before-the-event legal expenses insurance is being held back by “lack of understanding” among consumers as to what it covers, a report has concluded.
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.
AIM-listed litigation funder LCM received 419 applications for funding in its last financial year, an increase of 235% – but only agreed to fund 3% of them – its annual results have shown.
Litigation funder Vannin Capital – which last year shelved a stock market listing – has now been bought by US investment manager Fortress, which is owned by Japan’s SoftBank.
An “ambiguous” CFA needed to be interpreted by reference to the “commercial common sense of the relationship” between a law firm and ATE insurer, the High Court has ruled.
Litigation funder Burford Capital has described one of the agreements that has come under scrutiny in recent weeks as one where an outright win in the underlying case was not required.
The first shareholder class action against litigation funder Burford Capital arising out of the recent report by US short seller Muddy Waters has been filed in New York.