Flush with capital and in search of their next big payout, foreign litigation funders are exploring new opportunities to invest in litigation and arbitration in Latin America.
wyers for truck manufacturers accused of colluding on prices appeared in Dutch court this week to fend off damages claims, warning that the Netherlands is in danger of becoming a “claims paradise”, reports Mlex.
“The European Parliament faces a crossroads: should it hand over control of the EU’s lawsuit system to an obscure but enormous industry known as third party litigation funding (TPLF)?”, writes Harold Kim, President of the U.S. Chamber of Commerce Institute for Legal Reform, for the Brussels Morning Newspaper.
Claimants’ lawyers in the £920 million class action against Google are attempting to keep details of the litigation funding agreement behind the claim from being disclosed.
Australian, “after administrators of a now-defunct litigation funder suggested it be liquidated.”
Court of Amsterdam has dismissed a 10-billion-euro collective action lawsuit against Salesforce and Oracle brought on behalf of 75,000 claimants. The court found that the data privacy group that launched the case, The Privacy Collective, could not actually prove that it represents the interests of 75,000 Dutch citizens.
A group of class action lawyers in Australia “are facing a criminal investigation and a damages bill of more than $11.7 million for ‘dishonourable’ and ‘fraudulent’” conduct, reports the Australian Financial Times. The lawyers and litigation funder involved attempted “to claim more than $19 million in legal and funding fees from a group of elderly investors in the Banksia class action.”
he Australian Federal Government is looking to put an end to the excessive fees charged by class action litigation funders and lawyers. On September 30, the government released its long-awaited proposals for the regulation of the litigation funding industry.
Litigation funders in Germany are adapting to the growing number of international litigation funding firms setting up shop in the country, and developing their own cash streams.
London law Firm Mischon de Reya has teamed up with litigation funder Harbor to create a £150 million litigation funding arm, reports the Law Society Gazette.
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