Funding


High Court rejects funder’s bid for “mini-trial” of £14m claim

Litigation funder Vannin Capital has failed to obtain summary judgment of its £14m claim against RBS shareholders it backed who then successfully sued the bank.

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Boxing promoter Warren loses assignment challenge to CFAs

Boxing promoter Frank Warren has been refused permission to appeal a costs judge’s ruling that the assignment of two CFAs – under which he owed his solicitors nearly £1m – was valid.

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Litigation funder to list next week with £76m market cap

Insolvency litigation funder Manolete is to raise £16.3m when it is admitted to AIM next week, it has announced. The selling shareholders will realise a further £13.1m.

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Recovery of success fees in defamation cases to end

The government is to abolish the recoverability of success fees in defamation cases – but retain it for after-the-event insurance premiums, it announced yesterday.

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High Court pulls plug on CFA-backed Kenya group action

The High Court yesterday dismissed the group litigation brought on behalf of more than 40,000 Kenyan claimants, after six years of work done by lawyers operating on a ‘no win, no fee’ basis.

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Australian funder to list in UK as Woodsford sees cash boost

An Australian third-party litigation funder is to join London’s AIM market in a bid to grow its business, it has announced. Meanwhile, Woodsford Litigation Funding has announced extra backing.

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Enthusiasm for third-party funding continues to grow, says survey

There is strong growth in the consideration and use of litigation finance in the UK, new research has found, with 63% of respondents saying their organisation’s use of it has increased in the last two years.

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High Court close to striking out law firm’s indemnity claim against QC

The High Court has struck out a law firm’s amended particulars of claim for an indemnity from a QC if the firm was successfully sued by claimants who took part in failed group litigation. Failure to produce new particulars would inevitably lead to the part 20 claim failing.

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