The free guide to costs, funding and the Jackson reforms
Third party
Burford creates £38m fund to back litigation run by women
Top third-party funder Burford Capital has earmarked $50m (£38m) to finance cases led by women lawyers as part of a groundbreaking initiative designed to help close the gender gap in law by providing an “economic incentive for change”.
High Court halts £3bn action that “benefited lawyers and funders most”
Lawyers and litigation funders would “by a considerable margin” be the main beneficiaries of any award in a representative action against Google over misuse of private data, the High Court has ruled in blocking the case going forward.
Burford’s growth continues to spiral with £193m fund-raise
Burford Capital, the world’s largest litigation funder, has raised a further £193m ($250m) in less than 24 hours after an oversubscribed placing. The new shares were placed at 1850p, reflecting the extraordinary growth in the AIM-listed company’s share price.
Solicitor struck off over conflict between litigation and funder clients
A solicitor who sought to keep a longstanding client happy at the expense of another, when one provided the other with a loan to pursue High Court litigation, has been struck off. His actions were “a classic example of a solicitor departing from the complete integrity, probity and trustworthiness expected”.
Vannin set to raise £70m from stock market listing
Third-party litigation funder Vannin Capital has announced its intention to float on the London Stock Exchange next month. The existing shareholders are to make 25% of its stock available in a bid to raise £70m.
Class actions “set to grow”, says senior commercial litigator
Data and privacy class action claims are likely to expand in future, with litigation funders attracted by lucrative returns driving the industry, according to a senior City disputes lawyer. There have already been several “very high-profile claims” recently relating to shareholder and competition claims.
Burford’s share price soars to new record after latest strong results
The seemingly inexorable growth of Burford Capital continued yesterday after strong half-year results sent its share prices soaring. Meanwhile, fellow third-party funder Vannin Capital has named the deputy senior clerk at Fountain Court chambers as its new managing director.
Augusta secures £150m of capital as litigation funding market hots up
Augusta has become the latest third-party funder to raise new capital, securing an extra £150m as it claims to have funded more cases in the UK than any other. In all, it has so far committed £98m to funding 162 cases. Last year, it also opened an office in Australia.
Commercial firm looking to cut out brokers names three to litigation funding panel
A commercial firm in Hertfordshire has appointed three litigation funders to a pioneering panel aimed at cutting out brokers’ fees and making smaller cases viable for backing. The panel covers claims up to £5m in value but its aim is to unlock many claims worth £1m or less by making them suitable for funding.
Specialist insolvency litigation funder set to list amid growing demand for capital
Specialist third-party funder Manolete Partners is planning to float on the London Stock Exchange so as to satisfy increasing demand for third-party funding from insolvency practitioners here and abroad, its chief executive said today. But it may also move into other areas of litigation in time, he indicated.
Blog
An analogue decision? Google defeats attempt at consumer ‘class action’
In an eagerly awaited judgment, the High Court handed down its ruling in Richard Lloyd v Google LLC on 8 October. It seems clear that there is a degree of reluctance to permit group litigation which will not materially benefit consumers. That being said, it is hard to ignore the increased possibilities of group litigation in the context of corporate data breaches, particularly following the implementation of GDPR earlier this year.
October 18th, 2018
Associate News
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