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Subscribe to this list via RSS Blog posts tagged in ATE litigation funding

An annual report from litigation funders Burford Capital are further evidence of the burgeoning civil litigation sector in the UK.
In a recent business update for 2020, Burford, who offer claims funding to lawyers and clients engaged in litigation and arbitration, asset recovery and other legal finance and advisory activities, has reported record results, described as ‘the best year in its history for portfolio performance’. The listed funder, with main office locations in London, New York and Chicago, reported that its portfolio of ongoing matters is at its largest volume ever, with ‘record levels of realized gain and more cash from successes than ever before’.

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A group of private investors have recently commenced legal action against the failed Woodford Equity Income Fund (WEIF), seeking to recover losses sustained following the fund’s collapse in 2019.

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A recent ruling by the Court of Appeal in London means that a large group action claim against a number of large truck manufacturers can proceed based on its existing funding arrangements.

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Whilst Covid-19 may have forced many parts of society to slow down and re-think our approach to all aspects of our lives, recent comments by a number of High Court judges would seem to indicate that this is certainly not happening in civil and commercial litigation. The 3 judges have expressed their disquiet over the ever increasing pervasiveness of hostile and antagonistic approaches to litigation where every point, good or bad, is taken.

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The UK’s largest ever group action litigation action, ostensibly valued at almost £5bn, has been thrown out by the High Court in London with the case having been found to be an abuse of process.

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A recent ruling by the High Court in London will mean that unsuccessful claimants in the well-publicised Municipio De Mariana & Ors v BHP Group PLC & Anor group action claim will need to make an interim payment of £8m to cover 50% of their opponents legal costs.
In making the ruling, High Court judge Mr Justice Turner said that it was wrong to penalise the defendants for the work done on the case. Justice Turner had already struck out group litigation on behalf of some 202,600 Brazilians last November who were claiming compensation following the collapse of the Fundao dam in Brazil in 2015, saying the task of managing such a case would be ‘irredeemably unmanageable’ if it was allowed to proceed.

Following the nations formal exit from the EU, a recent move by the Council of European Bars and Law Societies (CCBE) has been widely welcomed by UK-based law firms, barristers and lawyers.

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Whilst Covid-19 may have forced many parts of society to slow down and re-think our approach to all aspects of our lives, recent comments by a number of High Court judges would seem to indicate that this is certainly not happening in civil and commercial litigation. The 3 judges have expressed their disquiet over the ever increasing pervasiveness of hostile and antagonistic approaches to litigation where every point, good or bad, is taken.

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The Supreme Court in London is about make its judgement in highly contentious case centred on the rejected business interruption claims that many large insurers have turned down due to the Covid-19 pandemic. With large numbers of mainly small businesses reporting problems when claiming on their business insurance policies, the final judgement in the case will have huge implications for over 350,000 businesses involving claims totalling just under £1.3bn.

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New research by GLG that was commissioned by litigation funding specialists Burford Capital shines light onto the increasingly common use of third party litigation funding to resolve business disputes of all types.
GLG approached a cross section of private law firms, in-house legal departments and other related professionals in the USA, UK and Australia, the territories in which use of litigation funding is most prevalent. The law firms surveyed had between 10 and 500 lawyers, whilst the in-house legal professionals were at firms with annual revenues ranging from £80m to over £4bn. Overall, use of litigation funding by private law firms has increased from 37% to 89%, with funding use by in-house teams also doubling over 3 years to 76%.

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Engineering and construction firm Bechtel now has a court date set to enable its appeal against the award of the HS2 £1bn Old Oak Common station construction partner contract.

Whilst Covid-19 may have forced many parts of society to slow down and re-think our approach to all aspects of our lives, recent comments by a number of High Court judges would seem to indicate that this is certainly not happening in civil and commercial litigation. The 3 judges have expressed their disquiet over the ever increasing pervasiveness of hostile and antagonistic approaches to litigation where every point, good or bad, is taken.

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A recent study conducted by Wolverhampton University has shed light on the growing level of claims and commercial activity around insolvency litigation in the UK. The report shows that there has been a 50% increase in the value of insolvency claims in the past five years. This large increase can mainly be attributed to 2012’s Legal Aid, Sentencing and Punishment of Offenders ACT (also referred to as the LASPO act), after which lawyers success fees under a conditional fee arrangement and any after the event (ATE) insurance premiums were no longer recoverable from the defendant.

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Manchester United and England footballing legend David Beckham, also famous for being married to former Spice Girl Victoria Beckham, is facing a trademark infringement dispute with Italian professional football club Inter Milan.

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An apparently mundane car part, the gearbox, is at the centre of a legal dispute involving a very rare - and very expensive – Ferrari

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London’s Court of Appeal has ruled that a judge in a recent libel claim had ‘seriously transgressed’ the fundamental principle of neutrality and had ‘bullied’ a Litigant in Person (‘LIP’) whilst they were giving evidence at trial.

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Commercial layers and economists from a number of European nations have recently signed an open letter urging caution with regard to proposed reforms in the current EU laws governing competition.

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A recent judgement has seen a costs penalty of £80,000 imposed on the Ministry of Defence (MOD) following concerns over disclosure of information as part of a contract dispute case.

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A Cheshire couple are taking legal action against the company behind the UK’s £56 billion HS2 railway expansion project, claiming that their home – which is set to be acquired by HS2 via a compulsory purchase order – is worth far more than HS2 have offered them.

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Epic Games, makers of the hugely popular online computer game ‘Fortnite’ are taking legal action against the organisers of a UK ‘live experience’ event that was based on the game.

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