New Zealand announced its Law Commission will be looking into the growth of third party litigation funding, becoming the latest country to examine the practice. A previous review of litigation funding by the Law Commission stalled last year.
By: Scevole de Cazotte
Last month, the Hong Kong Law Reform Commission (LRC) released a Report on Third Party Funding for Arbitration which calls for “light touch” regulation and disclosure of third party funding in arbitration. While this is an important first step and may lead the way to global recognition of the need for meaningful oversight in the litigation funding industry, “light touch” regulation will not suffice. The Hong Kong Legislative Council should strongly consider adopting litigation funding rules that ensure proper enforcement.
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