Third party

High Court orders third-party funder to pay security for costs in excess of Arkin cap

foskett-j

The High Court today hinted at the first crack in the Arkin rule that third-party litigation funders are only liable for adverse costs to the extent of their investment in a case. Mr Justice Foskett awarded a defendant security for costs against a funder in a sum greater than the amount committed.

December 8th, 2017

High Court: Litigation funding documents protected by legal advice privilege

RCJ portrait

The High Court has ruled that a set of litigation funding documents were protected by privilege because they inferred the substantive legal advice that had been given in the underlying dispute. The court also said that it was “not part of our law as to disclosure that every conceivable stone must be turned over”.

December 7th, 2017

Court ruling forces Harcus Sinclair to withdraw from VW emissions case

Volkswagen logo

London law firm Harcus Sinclair has been forced to withdraw from the massive VW emissions group action it was helping to co-ordinate because of a breach of a non-disclosure agreement it signed before the case began. It has been barred from involvement until 2022 but intends to appeal.

November 16th, 2017

City firm building surgical mesh implant group action “rapidly”

David Golten

A City law firm says it is receiving 20 new enquiries a day as it builds a group action on behalf of women who have suffered life-changing complications as a result of transvaginal surgical mesh implants. Wedlake Bell said there are now more than 400 claimants in the group.

November 9th, 2017

Strong support from UK public for consumer class actions, while half back third-party funding

European Commission

There is strong public support for collective consumer actions in the UK, new research has found, although most want it, and any third-party litigation funding that supports a case, to be subject to controls – many of which already exist here.

October 3rd, 2017

Third-party funder backs major potential claim against patent renewal business

Jersey

The London office of an American law firm, together with a Jersey firm, have secured litigation finance to investigate and possibly sue CPA Global over alleged systematic and widespread overcharging of clients for patent renewal services.

October 2nd, 2017

UK well ahead of USA in use of litigation finance, survey finds

Chris Bogart colour

The UK is well ahead of the USA in the litigation finance, a survey of law firms and in-house lawyers has found, with 41% of UK respondents having used, compared to only 32% in the US and 40% in Australia. The company did caution that some of the figures appeared out of kilter with reality, however.

September 14th, 2017

Half of insolvency practitioners say litigation has decreased since LASPO change

Ferguson Financial pix at Flag Fen Business Exchange

Almost half of insolvency practitioners believe that litigation work has declined since removal of the exemption from LASPO in April 2016, a survey has found. The remaining half of the 225 insolvency practitioners who took part in the survey said there had been “no noticeable difference”.

September 5th, 2017

Burford ramps up portfolio finance activity with first UK firm deal

Guy Harvey

Burford Capital has agreed a “multi-million pound” portfolio financing agreement with Shepherd & Wedderburn, which it said is the first of its kind to be offered by a top 100 UK law firm and major funder. The deal provides flexible capital that Shepherd & Wedderburn can use “to expand its ability to offer alternative fee arrangements to clients and grow the firm’s reach in commercial litigation and arbitration”.

August 2nd, 2017

Burford posts “best ever” interim results

Chris Bogart new

Litigation funder Burford Capital has announced its strongest ever results, with profits for the first half of 2017 greater than the whole of 2016, driven by rising client demand. Highlights from the financial results for the year ended 30 June 2017 included an increase in income by 130% to $175.5m (£133.5m), and operating profit up by 151% to $155m.

July 27th, 2017

Blog

All I want for Christmas is…

Stack of documents and papers

This is my valedictory blog for 2017. I am grateful to my loyal reader for enduring the polluted flushings of my diseased mind over the past six months. It has been fun to write and I hope that I have given the reader an insight into the world of a litigation flaneur. Before I bid you happy holidays, I would like to share with you my two wishes for Christmas. For the avoidance of doubt, these relate to litigation finance and not my personal desires, which include a solid gold house, rocket shoes and the power to become invisible at will.

December 12th, 2017

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