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. Read more.

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Funder News

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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Responses continue to come in on the Australian draft exposure bill

Responses continue to come in on the Australian draft exposure bill relating to litigation funding and the regulation of the Australian class action industry. The International Litigation Finance Association argues that the tight seven-day consultation period for this bill confirms that those who are pushing for these regulations do not want to engage in any meaningful consultation and their objective is to cut off funding of Australian class actions and create procedural hurdles, red tape and costs that make all class actions harder, longer, and costlier to run against large institutions.

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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.

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Never miss a thing in the litigation finance market.