News & Blog
he German Bar Association (BRAK) is weighing-in on the European Parliament’s draft report on responsible private funding of litigation. The Parliament’s report, authored by German MEP Axel Voss, recommends an EU directive to sensibly regulate third party litigation funding (TPLF)
On Wednesday, August 18, a London court ruled that a £10 Billion class action against Mastercard can now go ahead on behalf of 46 million British consumers. If the claim is successful, claimants’ lawyers and litigation funders stand to gain a substantial sum.
Australia Makes it Official – New Legislation Will Protect Businesses from Trivial Corporate Disclosure Class Actions
The Australian Parliament has just passed legislation to reform Australia’s corporate disclosure rules.
As reported by Law360, the U.S. District Court for the District of New Jersey recently enacted a rule to increase transparency in the litigation funding industry.
The United Nations Commission on International Trade Law recently proposed provisions to limit or eliminate third-party litigation funding in investor-state arbitration claims, according to an article by Law360.
According to an expert analysis in Law 360 class actions are on the rise in the U.K. and elsewhere in Europe. Third party litigation funding is a significant driver.
Litigation funders have resumed their campaign to try and stop the Australian federal government from reforming their industry.
Growth in Size of MDLs Partly Driven by Third Party Litigation Funding, Says Prominent Defense Attorney
One of the major problems with litigation funding is the near-total lack of transparency around funding agreements, which may allow funders to structure agreements in a way that gives them more control of decisions related to the litigation. An effective solution to this problem, according to Sastre, would be the disclosure of the funding agreements themselves.