2017 decisions in UK class actions reveal challenges in achieving opt-out certification, but affirm the role external financing can play in the future. Looking ahead to 2018, expect law firms to consider new ways to run their businesses more efficiently.
Legislative reforms and increased interest from prospective users of outside finance in Asia are fueling ongoing growth of litigation and arbitration finance as an accepted reality of the business of law.
A new work by Professor Brian Fitzpatrick of Vanderbilt’s law school takes a step forward in articulating the benefits of litigation finance to the entire system of dispute resolution.
Despite a few positive changes for patent holders in 2017, IP litigation remains a risky endeavor—but one that is ideally suited for outside finance.
Rising billing rates for partners at top law firms may make for splashy headlines, but they hardly tell the whole story. Because most firms utilize cash-basis accounting, billing rates don’t determine partner payouts or revenue-based rankings, collection rates do—and collection rates are failing to keep pace with hourly rates.
The use of litigation finance has been increasing across industries for the last decade. For a variety of reasons, the energy sector is an especially fertile test bed for exploring the reach and application of these legal funding mechanisms.
Another favorable ruling for legal finance: Pre-litigation funding communications protected by work product doctrine
Among the most common questions we’re asked by parties that are considering legal finance is this: Will our communications with Burford be protected? As the courts have affirmed again and again, the answer is yes.
Outside finance has clear benefits to bankruptcy estates, creditors and professionals themselves—and is sure to become even more widespread in the restructuring industry in 2018.
Recent decisions and legislative proposals in the US and Canada relating to disclosure of litigation finance have generated considerable media coverage, but overall the trend in 2018 remains one of growth.
Kudos to the Law Gazette for reminding us that “litigation funding is nothing new” and that champerty was “designed to stop robber barons hijacking litigation for their own ends”.