Third party

Luke Harrison

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.

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Steven Cooklin

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.

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Bozena Michalowska-Howells

Leigh Day set to launch lecturer strike claim next week as it eyes Windrush group action

Group litigation specialist Leigh Day expects to send the first letter of a claim from a student to a university over the lecturer strike next week. Meanwhile, it confirmed yesterday that it is preparing a potential group action against the government on behalf of those who fall under the definition of the ‘Windrush generation’.

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rcj 3

High Court: security for costs application cannot be used to avoid enforcement of arbitration award

A security of costs application relating to a court challenge to an arbitration award cannot be used as a way of avoiding enforcement of the award, the High Court has ruled. Mr Justice Picken said the position was no different because a litigation funder was involved.

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Lord Brennan QC

Listed funder targets shutdown by end of 2018

Litigation funder Juridica is on course to wind up at the end of this year, with just seven investments still live, although it has had to write off a $2m stake in a patent business. The AIM-listed company, which is chaired by Lord Brennan QC, began winding down in November 2015 citing a lack of scale.

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Noel Edmonds

Edmonds speaks of “relief” at securing third-party funding for £60m Lloyds Bank claim

TV presenter Noel Edmonds has spoken of his relief at receiving the backing of a third-party litigation funder in his long-running dispute with Lloyds Banking Group – while also being clear that he is not on a crusade and is prepared to settle.

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Chris Bogart colour

Burford founders each pocket £60m in first share sale

The founders of the world’s largest litigation funder, Buford Capital, each became nearly £60m richer this week after selling some of their shares for the first time since launching the company in 2009. Chief executive Christopher Bogart and chief investment officer Jonathan Molot sold a third of their holdings.

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Shimon Goldwater

International firm first off blocks to build student group action over university strike

A law firm is attempting to build a group action to win compensation for students who miss out on teaching time due to the ongoing university lecturers’ strike. The firm anticipates that others will attempt to build similar actions, but with the large number of students potentially affected, “there’s enough cake for everybody to have a slice”.

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