The impact of the Jackson reforms on the funding of insolvency litigation – though significant – has not been as serious as some had predicted but costs remain high, new research has found.
The coronavirus pandemic is likely to lead to an increase in demand for litigation funding in the longer term, Burford Capital has told investors.
Litigation funders are continuing to thrive, with Balance Legal Capital raising a new $100m fund, and Litigation Capital Management more than doubling its revenue and profit.
The High Court has ordered the claimants in a major group action to disclose details of both the damages-based agreement and third-party funding arrangements they have entered into.
Listed third-party funder Litigation Capital Management has raised £107m for a new fund, which it said would “significantly” increase its ability to invest. Nine cases are already lined up.
The High Court has struck out claims brought against a City law firm that a litigation funder said did not pass on the “pessimistic views” expressed by counsel about a case it was backing.
A £150m opt-out collective action has been launched against five shipping companies whose cartel is alleged to have led to increased delivery costs for car buyers.
The former director-general of the Takeover Panel is to join the board of Burford Capital as the litigation funder defended the lack of turnover – and women – among its directors.