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Subscribe to this list via RSS Blog posts tagged in small business 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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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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A recent report from legal information providers Thomson Reuters provides an insight into the volume of Brexit-related legislation in the run up to the current (until further notice, of course..) ‘Brexit date’ of 31st October 2019. In the first six months of this year, 488 pieces of legislation were passed relating to changes in laws to cover the UK’s exit from the European Union. In comparison, only a single piece Brexit-related legislation was passed during the same period in the previous year.

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Latest News

  • In a further sign of the burgeoning litigation and dispute resolution market in the UK, a London based litigation funding provider is making available funding in excess £585m to tackle high-value civil litigation claims in the UK courts. Read More

  • New research published recently by insurance broker and risk managers Gallagher suggests that incidents of legal threats, claims and formal complaints against UK companies is likely to continue to increase over the next few years. With the volume of such actions having over doubled since 2018 and having increased by an incredible 300% since 2016, it is vital that UK businesses take positive steps to mitigate against such eventualities. The Gallagher data, based on surveying more than 3,000 UK businesses across multiple sectors, found that in the past five years, over half (56%) of all businesses have faced an accusation, claim or allegation of unlawful behaviour. Sectors facing the most litigation include IT (72%) and construction (60%), and amongst these the proportion is even higher.Employees make up the bulk of the accusations (44%), followed by customers (23%), clients (22%) and suppliers... Read More

  • Following the collapse of construction giant Carillion in Jan 2018, litigation funding has recently been confirmed allowing the defunct business to pursue legal action against accountants KPMG. The funding has been agreed by Litigation Capital Management (LCM), who have agreed to fund the £250m claim being made by Carillion’s liquidator in the Commercial Court. It what is widely regarded as the largest ever corporate failure in the UK’s construction sector, Carillion collapsed in January 2018 with reported liabilities of around £7bn. Before their collapse, Carillion formed part of a consortium that held contracts to build part of the forthcoming HS2 high speed railway line, it maintained 50,000 homes for the Ministry of Defence and managed schools, highways and prisons. On 10 July 2017, Carillion announced that its profits would be hit to the tune of £845m and, as a consequence, its chief... Read More