Global legal finance company Burford Capital announces the release of a new book providing an indispensable overview of the industry and practical introductions to the use of commercial litigation and arbitration finance in key jurisdictions worldwide.
The following is a contributed article from Ana Carolina Salomão, Micaela Ossio Maguiña and Sarah Voulaz of Pogust Goodhead.
On 26 September 2023, a new case was filed in the High Court of England and Wales on behalf of a claimant who, despite having received damages from a successful lawsuit, refused to pay litigation funders for funding previously sought. Legal representatives of the Claimants in this case are seeking a declaration from the Court that the clients’ LFAs “fall under the PACCAR regime as non-compliant DBAs” and have added that in reaching its decision in R (on the application of PACCAR Inc & Ors) v Competition Appeal Tribunal & Ors [2023] UKSC 28 (“PACCAR”), the Supreme Court has recognised “the importance of statutory protections for clients.” Is this the case?
The day’s featured panel included a discussion around ethical challenges and conflicts of interest, impacts on attorney-client relationships, developing a regulatory framework, and balancing the benefits vs. the risks of litigation funding.
Sen. John Kennedy (R-La.), a member of the Senate Judiciary committee, and Sen. Joe Manchin (D-W.Va.) today introduced the Protecting Our Courts from Foreign Manipulation Act of 2023 to stop foreign entities and governments from funding litigation in America’s courts.
The following piece was contributed by Guido Demarco, Director and Head of Legal Assets at Stonward.
In a groundbreaking legal battle that pitted Petersen Energía SAU and Petersen Energía Inversora SAU[1] (the Petersen Companies) against the Republic of Argentina, the recent decision by the District Court of Southern District of New York has far-reaching implications for the litigation funding industry. This landmark ruling reaffirms the critical role litigation funders play in providing access to justice, particularly in complex cases involving powerful sovereign entities.
