The owner of Novitas is preparing to write off £90m after admitting that its cases have ‘limited prospects of successfully progressing through the courts’.
The fact that more than 1,000 people – including former Pink Floyd musician Roger Waters and film director Ken Loach – contributed to the crowdfunding of a libel defence on behalf of retired television producer Paddy French exacerbated the harm done by the original publication by attracting further attention to the defamation, a UK judge has ruled.
RBC Holdings, the listed owner of law firm Rosenblatt, is braced for a £4m hit after its litigation finance business LionFish suffered damaging losses in two cases and the board concluded that any further appeals are no longer viable.
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