LitFin holds inaugural "LitFin Leap 2024" conference

Prague-based litigation funder LitFin held its inaugural "LitFin Leap 2024" conference – a meeting of over 50 professionals from 11 EU countries who came together to celebrate and learn more about litigation funding in the region. The conference considered the issues facing the industry, taking a deep dive into the nuances of competition law private enforcement, and explored the synergies that can be achieved between law firms and funders. The significance of holding the conference on a leap day was not lost on anyone involved – the conference represents a significant milestone for LitFin and litigation finance in Europe.

We had the opportunity to speak to Ondřej Tyleček, Partner at LitFin, about the conference, the state of litigation funding in the region, and his views on where the industry is heading in the coming years.

1. What was the initiative behind the conference? Should we look forward to another conference next year, or will we have to wait for the next leap year for a repeat?

First, we wanted our attendees to think of this conference as a big thank you card, one that couldn't fit into their mailbox, because the majority of them are working with us on various projects across the EU. As we grew rapidly over the past couple of years and most of the lawyers invited were an essential part of our journey, organizing this event appeared to be a natural way of showing that we value our relationships.

Whether we see each other next year or in four years remains undecided, however, the chances of a similar event taking place soon are high given the positive feedback we have received from the participants. 😄 

2. One of the panels covered competition law private enforcement. Given LitFin’s focus on competition litigation, can you share some of the issues you and your clients are facing in that area? How have you been tackling these issues?

From my point of view, the lengthy duration of most of the prominent competition litigation cases in our portfolio, as well as the hesitation of the damaged entities to go against some of the gatekeepers under the DMA and fight for the rightful compensation, are the main issues we’re facing now. Luckily, regarding the willingness to fight against Apple and others, the weather seems to be changing now. We’ve come a long way in explaining that no one should fear fighting for what is rightfully theirs and that we are here to level the playing field.

3. The conference also covered the synergies that can be achieved between law firms and funders. Can you expand a little bit on what was covered?

Absolutely. Mainly, we covered how LitFin enables law firms to represent clients who might not have the means to pursue litigation, thus increasing access to justice, and we discussed concrete examples. It is worth emphasizing that besides the commercial litigation funding, LitFin also helps those who have suffered personal injuries, both directly and via our special project – Finally, we touched on how to raise trustworthiness among the clients, how the approach slightly differs when talking to clients from different industries, and what the differences are when the approach is made by the funder and when by the lawyer.

4. How would you describe the culture of litigation funding in Europe? Where do you see the industry going in the next 5-10 years?

The culture of litigation funding in Europe has been growing, becoming more accepted and widespread. In my opinion, this growth is fueled by an increased recognition of the value that litigation finance brings to the legal system. In the next 5-10 years, the industry is likely to expand, we can expect the market to grow in both size and scope. In that context, I think we can expect more regulation and standardization as the industry matures, which could lead to increased transparency and trust.