A host of European associations have issued a joint statement calling for the EU to develop appropriate rules on third party litigation funding. They argue that, with no obligation to see cases through to the end and no responsibility for adverse costs, funders can pursue opportunistic claims for a high reward with low risk.
Burford has released new independent research based on a survey of 300 GCs and heads of litigation in the US and UK that demonstrates the transformative way that GCs view legal department impact, including the shift away from thinking about legal departments as cost centers, and instead viewing them as potential liquidity generators.
Dr. Marc Veit and Robert Denison of LALIVE consider the impact of the EU Parliament’s proposals for regulation of third-party litigation funding on arbitration claims, concluding that the proposals would have a chilling effect not only on traditional third-party funding arrangements in both the litigation and arbitration contexts, but potentially even intra-group company funding arrangements, depending on their structure.
Joeri Klein of Deminor and Koen Rutten of Wijn & Stael take stock after two years since the introduction of the Dutch Collective Damages Act (WAMCA), and question whether fears that the introduction of the WAMCA would lead to “American practices” and an overly aggressive “claim culture” with enormous damages at stake were justified.
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