News

US firm launches FX cartel claim after €1bn European fine

Specialist US class action law firm Scott & Scott has filed an opt-out collective action under the Consumer Rights Act 2015 against five banks that unlawfully manipulated the foreign exchange market.

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Direct Line adds £17m to reserves over discount rate change

The change in the discount rate has led to Direct Line increasing its reserves by £17m, while the ABI has warned that it will put pressure on motor premiums.

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Court condemns “dialogue of the deaf” between opposing solicitors

The Commercial Court has criticised the lack of co-operation between the solicitors on either side of a dispute, describing their correspondence as “a dialogue of the deaf”.

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MPs call for QOCS to cover discrimination cases

Qualified one-way costs shifting should be extended to cover discrimination cases in the county court, MPs on the House of Commons women and equalities committee have recommended.

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Supreme Court backs public access to court documents

Non-parties to litigation should generally have access to all written submissions and documents which have been placed before the court and referred to during the hearing, the Supreme Court has ruled.

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HFW strikes litigation funding and analytics deals

City law firm HFW has agreed a £25m portfolio litigation funding facility with Augusta Ventures, while also unveiling a development partnership with litigation analytics start-up Solomonic.

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Turnover continues to rise at ARAG despite ATE blockage

Leading legal expenses insurer ARAG has reported double-digit growth in its BTE business and a ninth year in profit, despite what it said were the “challenging market conditions” for ATE.

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Innovative investment deals push Burford’s profits ever higher

Litigation funder Burford Capital has unveiled a 36% rise in operating profit for the first half of 2019 as it continues to make record levels of investments – and in increasingly innovative ways.

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