CMS clashes with claimant lawyers and funders over ‘remarkable rise’ in European class actions

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.

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Burford Capital hires arbitration expert and legal finance industry veteran Mick Smith for senior European role

Burford Capital, the leading global finance and asset management firm focused on law, announced that arbitration expert and legal finance industry veteran Mick Smith has joined as Principal in its London office. He will join over 40 colleagues in London, and more than 140 globally. Smith will focus predominantly on the continued expansion of Burford’s business in Europe and especially its industry-leading role in global arbitration matters.

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ILFA comments on potential reforms

Leslie Perrin, in his capacity as chairman of the International Legal Finance Association, has provided comments to UNCITRAL’s working group in relation to the draft provisions on the regulation of third-party funding in Investor-State Dispute Settlement. Among other things, ILFA notes that in preparing the proposals, the Secretariat has not meaningfully engaged with the funding market generally and has not cited data in support of the various assumptions underpinning the draft provisions.

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