Challenging the ‘billion-dollar quartet’

Paul Brehony and Kate Gee of Signature Litigation LLP summarise recent auditor negligence claims in the UK and predict that audit reform and increasing regulatory scrutiny, coupled with the rise of group litigation in the UK and the increasing availability of litigation funding, will increase the likelihood of claims being brought in the civil courts against auditors and accounting firms. Read more.

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Insights

One third of big firms ‘actively considering IPO’

Michael Cross of the Law Gazette reports that nearly one third of partners at firms with 50 or more lawyers are examining a stock exchange float within the next 18 months, according to research published last week. The poll, commissioned by Harbour Litigation Funding, found that 31% are ‘actively considering an initial public offering’ while 44% said an IPO was ‘under consideration’.

In the News

From insult to personal injury – a sector in flux

The demise of two big-hitting personal injury firms (Hampson Hughes and Pure Legal) is a sign that the once buoyant claims sector is in a period of flux, with experts pointing to this year’s whiplash reforms as the catalyst for change. Lenders have also had enough and want to see evidence that mountains of claims will actually result in settlements and profits. Pure Legal’s administration was preceded by legal finance provider Novitas petitioning the court for bankruptcy.

In the News

Ready to roll

As capital floods into litigation funding, the sector has entered a new phase. Rather than sitting back and waiting for cases, funders often now play an integral role in the instigation of litigation – particularly collective actions. A push towards freely available, standardised documents will help hedge funds and other players enter the field, while a secondary market for funding investments is finding its feet.

Before You Go

Never miss a thing in the litigation finance market.