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News focus: EU to clamp down on booming litigation funding sector

Opponents of the EU clampdown on the booming litigation funding sector are pointing to the unwinding of similar proposals that were made to regulate the industry in Australia and arguing that legislators pushing for more regulation have failed to understand how the industry operates.

In the News

Can law firms reinvent litigation funding?

A growing body of solicitors’ firms are setting up third-party funding arms. When law firms and funders get too chummy, however, conflicts can arise, with the interests of law firms and funders often very different, according to Tets Ishikawa of LionFish.

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Litigation funder jointly liable for indemnity costs, court rules

Litigation funder Therium should be jointly and severally liable for indemnity costs after a specialist currency debt management firm unsuccessfully sued HSBC, the UK High Court has ruled. The funder agreed to back the claim by ECU Group against a number of HSBC entities over allegations that traders used knowledge of ECU’s foreign exchange orders to make a profit between 2004 and 2006, in a practice known as ‘front running’. However, ECU’s claim was ruled to be time barred by Mrs Justice Moulder, who held that the company had ‘sufficient knowledge’ to plead its case in 2006.

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Never miss a thing in the litigation finance market.