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Two-thirds of litigators say increased court fees already putting off clients
Most litigation lawyers say increased court fees have already deterred clients from commencing proceedings, a survey has found. An even larger majority said increased fees would influence clients’ decision-making in the future.
Burford boosts litigation funding warchest
Burford Capital has raised £90m from a bond issue, pushing the third-party funder’s asset base beyond the half-billion US dollar mark, it announced this week.
Burford uses arbitration claim to offer AIM-listed company £9m debt facility
Burford Capital has made an £6.6m profit on a £9m investment in an innovative arrangement that saw it provide a corporate debt facility linked to an arbitration claim.
Juridica predicts “significant cash proceeds” in next 18 months as cases conclude
Third-party litigation funder Juridica last week posted strong results for 2013, with dividends worth $25.7m (£15.6m) paid out to shareholders and a healthy forecast for the next 18 months.
Surrey practice becomes first law firm associate of Association of Litigation Funders
Surrey practice Stevens & Bolton has become the first UK law firm associate member of the Association of Litigation Funders. It joins nine funders, one overseas funder, two brokers and an individual academic member.
Caps under scrutiny as CJC working party unveils contingency fee recommendations
Disputes involving larger businesses should be the only category of case not subject to a cap when contingency fees are introduced, a Civil Justice Council working party has said as one of 18 recommendations on how the new scheme should operate.
Warning over third-party funders fuelling new "litigation industry"
Businesses have warned the government that allowing ‘opt-out’ class actions in competition law will spark “a new litigation industry based on funding and pursuing” such cases, as well as introducing a US-style culture.
Government to consider tightening up referral fee ban and regulating third-party funding
The government is to consider tightening up the ban on referral fees in personal injury and also introducing statutory regulation of third-party litigation funding, it confirmed yesterday. While rejecting calls to exempt charities and trade unions from the ban, justice minister Lord McNally told the House of Lords that the government would scrutinise amendments laid by solicitor Lord Hunt of Wirral, who told peers that “there is quite an industry out there now, which will be thinking of innovative ways of defeating the intention of both the government and Lord Justice Jackson”.
