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.
The average time between a small claim being issued and going to trial has reached the highest level this century – just as the government is set to flood the system with tens of thousands more claims.
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.
The Civil Justice Council has urged rule changes to help litigants take part fully in court proceedings, including a duty on parties to reveal vulnerabilities among participants.
The High Court has set aside an order made by a recorder striking out a claim because the claimants were two hours late for a trial in Cornwall.
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.
A majority of costs lawyers think there is a business opportunity in helping unhappy clients challenge their solicitors’ bills, a survey has found. It also showed continuing signs of improvement in budgeting.