News & Blog
New York State Senator Rob Ortt has sponsored S03911A, which would cap the interest rate for the consumer litigation lending industry at 16 percent, which is New York’s civil usury cap, writes the New York Law Journal.
The Competition Appeal Tribunal (CAT) rejected class proceedings over a case Reuters says “would have been the largest and most complex in British legal history.”
In a recent decision, the Irish Supreme Court dealt a blow to the third party litigation funding industry.
An Australian judge raised questions earlier this year about the unregulated nature of what has become known as the third party litigation finance industry, or TPLF—a business built on financing civil lawsuits in exchange for a share of a settlement or judgment.
A recent conference in New York city attracted “a few dozen litigation funders, would-be investors and lawyers [who] scoped each other out…looking to make friends—and deals—to put private investment behind legal claims” writes Law360.
A recent article by Yves Faguy in the Canadian Bar Association’s magazine highlights the need for transparency in the litigation funding industry. The article shows the growth of the industry and the increasing prominence of litigation funding on a global stage citing the use of funding in major cases in the UK, Germany, and US.
By Lisa A. Rickard, President, U.S. Chamber Institute for Legal Reform
A new study by the U.S. Chamber Institute for Legal Reform (ILR) has found that collective actions—a legal mechanism that pools claimants to litigate for injunctive relief and/or compensation—are a growing business in Europe. ILR’s study, which analyzes collective redress developments in ten EU Member States, shows that claimants are using a surprising number of recently introduced collective redress systems, with the value and volume of claims being filed on the rise.