Tets Ishikawa of LionFish Litigation Finance predicts that litigation will become an important tool in holding businesses accountable to ESG standards and is one of the reasons why more and more institutional capital managing ESG funds are pro-actively exploring how to enter the litigation funding market. Read more.
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.
RBG Holdings plc (AIM: RBGP), the UK-based professional services group, has released its unaudited results for the six months ended 30 June 2021. It reports that its litigation finance subsidiary LionFish has received 393 enquiries since launch with 10 cases approved, 54 under consideration and 329 rejected. The 10 approved cases will bring a funding commitment of £8.0 million over the next three years, of which £3.2 million has already been drawn down.
Class actions lawsuits are going mainstream, aided by litigation funding that has shrugged off its champertous past and is flying the flag for social justice. As more mega-claims hit London courts, however, the practicalities of how group litigation is managed and paid for needs to keep up with changing attitudes – or risk undermining the model’s new-found reputation.
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