Research from RPC, featured in the Solicitors Journal shows a recent increase in third party litigation funder’s commitments to legal claims in the UK. From 2015 to 2016 investments increased 25% from £575m in 2015 to £723m in 2016.
RPC drew on the balance sheets of “the 20 biggest independent litigation funders” for their analysis.
The growth of the litigation funding industry has not gone unnoticed. In December 2016, Lord Hodgson of Astley Abbotts submitted questions for written answer to Her Majesty’s Government regarding the regulation of third party litigation funding (TPLF), and in June 2016, Lord Hodgson authored a piece in the Conservative Home which outlined the need for transparency in the litigation market, asserting that recent trends including “American-style pursuit of claims” and the self-regulated third party litigation funding industry have put the British civil justice system at risk.