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Category: UK

Lawsuit Crowdfunding Raises Serious Concerns in the UK

Litigation crowdfunding has the potential to take the already serious ethical and practical problems with litigation funding and multiply them by injecting dozens – perhaps hundreds – of mystery investors in civil lawsuits. In the interest of consumers, decision makers must not allow this trend to continue unchecked.

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Litigation Funding Market in the UK Reaches £2 billion

For the first time ever, the value of court cases and capital held by the top UK litigation funders has reached £2 billion, reports City AM. The litigation funding market in the UK has quadrupled since 2015. This data is based on research by British law firm RPC.

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Yet Another Example of Funders and Lawyers Asking for Too Much

This week, an Australian judge took a $4 million axe to what he called one of the “worst” proposed class action settlements he’s ever seen. Justice Bernard Murphy said the portion going to the lawyers from Quinn Emanuel and the litigation funder Vannin Captial in a Bank of Queensland class action settlement was “disproportionate” to the amount going to the class.

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ILR President: “Only the UK Supreme Court Can Now Prevent a US-style Litigation Monster”

In a Law Society Gazette commentary piece, Lisa A. Rickard, the president of the U.S. Chamber Institute for Legal Reform, said a case potentially before the UK Supreme Court is the only thing separating the UK legal system from a “US-style litigation monster”. Merricks v. Mastercard, a £14 billion collective action lawsuit, represents the first true test of the Consumer Rights Act of 2015, which created a collective action mechanism in the UK.

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