Drew Hasselback of the Financial Post reports that litigation funding firms are emerging in Canada.
IMF Bentham Ltd. has already opened an office in Toronto, and the creation of a new firm, Balmoral Wood, is in the works. Third party funding was only recently allowed in Canada with the introduction of class action lawsuits, and laws against “champerty and maintenance” that protected against a third party having a financial stake in a lawsuit have been pushed to the wayside in some provinces to create access to justice. The landscape has continued to evolve with a 2015 ruling which allowed a single plaintiff to use litigation funding.
Read the full story here.
U.S. Chamber Institute for Legal Reform research – Painting an Unsettling Landscape: Canadian Class Actions 2011 – 2014.