The founders of legal expenses insurer Motorplus have been ordered by the High Court to repay the entire sale price of the company of almost £2.4m for breaching warranties.
Funding platform CrowdJustice has launched a private, invitation-only fundraising tool that it says will allow a broader range of clients to afford legal services.
Well-known after-the-event insurer LAMP has applied to go into liquidation after failing to secure additional finance so it can meet its current obligations and insure new risks.
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”.