According to the Amendments to the Code of Civil Procedure, 1908, (Order XXV Rule 3), litigation funding in India is permissible, in that non-lawyers are not restricted from accepting remuneration upon a completed claim. With recent litigation funding partnerships in the engineering and construction sectors, it seems litigation funding in India is poised for growth.
Among the chief concerns over the rise of litigation funding are the potential growth of frivolous lawsuits, and funder control over case decisions. While those worries haven’t exactly panned out as many industry skeptics had imagined, they remain nagging concerns as the funding industry continues to expand with new entrants and capital sources. One unifying solution to both of these ethical problems is to mandate that lawyers who partner with litigation funders operate on success-based fee arrangements.
Theo Paeffgen joins Harbour Litigation Funding today as a Director of Litigation Funding focusing on Continental Europe. Prior to joining Harbour, Theo was Regional Managing Director (DACH) at Vannin Capital, having acted as CEO of FORIS, a German focused litigation funder.
CHICAGO, Jan. 8, 2020 –Delta Capital Partners Management LLC, a private equity and advisory firm specializing in litigation finance, today announced major milestones in its growth.
Jonathan Mitchell of Mitchell Law PLLC has filed 21 class actions against public sector unions over the past two years. According to a recent court filing in which Mitchell disclosed the source of his funding, Chicago-based Juris Capital has been financing his class action claims.
With over 600 class actions filed in Australia since the regime was first allowed 27 years ago, litigation funders are finding the class action sector to be a wellspring of potential investment. Yet the rise and subsequent fall of common fund orders underscores the backlash that is growing against the sector.
We are delighted to announce we have established a funding facility with major law firm, Royds Withy King. This £10 million pound innovative funding facility will allow the law firm to offer clients a competitive edge in the litigation arena where the costs of pursuing claims to trial can be prohibitively expensive. The funding will enable clients to unlock claims which they might otherwise find difficult to bring or where they wish to structure their own finances to the benefit of their business interests rather than the litigation.
In a bid to reduce the number of class actions in Australia, the Aussie Supreme Court has struck down common fund orders, which allow courts to order that all members of a class pay a portion of their settlement or payout to the litigation funder, regardless of whether they signed an agreement with that funder. The ruling changes the game for class action funding in Australia.
