Claimant law firms and litigation funders have hit back at claims by CMS that they are helping to fuel a ‘remarkable’ rise in the number of European class actions, with Leslie Perrin of Calunius Capital arguing that “the assertion by CMS to their clients that class action risk is, increasingly, a board-level issue must be a good thing for business and society as it ensures greater accountability and adherence to the rule of law.” More from the Global Legal Post.
Kenny Henderson and Matt Peacock of CMS examine a recent case where the High Court left open the possibility that it may allow a funder’s commission to be paid before disbursement to the members of the class.
In a finding of interest to litigation funders, High Court Justice Justice Robin Knowles ruled that claims under Civil Procedure Rule 19.6 could see mechanisms put in place “to allow reasonable costs of the recovery achieved to be paid before disbursement to the members of the class”.
Innsworth Capital, which is backing the long-running £17bn consumer claim against MasterCard over the alleged over-charging of credit card fees to the tune of £60.1m, is funding an unprecedented £600k print and digital advertising campaign to promote the claim.
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