Membership of the Association of Litigation Funders is not enough reassurance that a funder will pay up in the face of a large liability for costs, the High Court has ruled.
Litigation funder Burford Capital made a record investment of $1.6bn (£1.2bn) in new cases last year, it said in a bullish trading update as it continues to work on clawing back its reputation.
Sir Rupert Jackson has called for international rules on the use of third-party funding in international arbitration, part of what he termed a wider global lex mercatoria.
The claimants in the truck cartel litigation have received the green light to move forward without delay to an assessment of the costs of a preliminary hearing given the two sides’ contrasting financial resources.
A shareholder action against Burford Capital has been discontinued as it heads for a second listing in the US, the litigation funder announced today.
A High Court ruling refusing to set aside £4.3m judgment in default in a suppressed sales case shows the strength of the litigation funding model used by Manolete Partners, it has been argued.
The High Court has ordered the wife and mother-in-law of a Kazakh businessman, the subject of a “very substantial fraud claim”, to pay the claimants’ costs bill of over £12m.
The market of clients using litigation finance through choice rather than necessity – especially companies looking to offload their liability for portfolios of cases – remains “almost entirely unaddressed”.