Litigation Insurance Uncharted but Indispensable, says Top Aon Attorney

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Quartet advise as Volkswagen Group agrees £193 Dieselgate UK Settlement

A £193M settlement has been reached between Volkswagen and around 91,000 claimants in a U.K. group action over the carmaker’s emissions scandal. The claim, which should now result in each car owner receiving around £2,100, was backed by litigation funders Therium and North Wall Capital. Therium, the largest backers, funded claimants represented by Slater & Gordon, whilst North Wall financed PGMBM claimants. Leigh Day did not have any litigation funding, instead working on a conditional fee agreement.

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Quinn Emanuel Is Willing To Take On Fee Risk But Hourly Billing Still Dominates

John Quinn of Quinn Emanuel tells Christopher Bogart of Burford Capital that he doesn’t foresee U.S. law firms firms transforming into more conventional businesses any time soon, noting that while ownership and sharing of equity in law firms is is coming, like everything else in the legal profession, it’s going to take a long time.

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The Need—and Cost—for Lit Funding Has Risen for Plaintiffs Firms

For plaintiffs firms managing through a lull in litigation thanks to the pandemic, litigation funding has become an increasingly viable option, but also potentially more costly. As court cases drag on due to pandemic-related delays, the portion of a settlement owed to funders may start to rise.

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