Third party

A litigation funder that launched last year with a focus on insolvency has now opened up to commercial disputes as it revealed that it is backing Slater & Gordon’s Mercedes group litigation.

Litigation funder Augusta Ventures has raised £250m in new capital to “rapidly expand” its portfolio of cases, while we also report on a new insolvency funder and backing for a £250m case.

The cost of City lawyers, “endemic” delays in the courts and the impact of adverse costs mean London has cause to worry about its global pre-eminence as a legal centre, the boss of Burford has warned.

Leading litigation funder Harbour has failed in its argument that it was entitled to an increase in its share of the proceeds from a $300m award that it financed.

A litigation investment company bringing High Court proceedings over PIP breast implants has welcomed a liability decision in France but said there is “still much more work to be done” on its claim in the UK.

Class action law firm Hausfeld has launched the latest opt-out representative action, a £1.5bn claim against Apple on behalf of nearly 20m UK iPhone and iPad users. Vannin Capital is backing the claim.

Money provided to solicitors by third-party funders were not caught by a worldwide freezing order imposed on their client and so they were not in contempt of court, the High Court has ruled.

The value of the pipeline of court cases and cash held by the top UK litigation funders has increased to a record of £2bn, City law firm RPC has reported.