Well done, everyone. We’ve done it. We’ve put litigation funding on the map. They used to call us “charlatans”, “immoral” and “seeking access to profits from others’ miseries”. But it was all worth it.
REUTERS | Thomas White
REUTERS |
In early May 2020, it was reported that the Financial Conduct Authority (FCA) intended to seek and obtain declaratory relief in order “to resolve contractual uncertainty in business interruption insurance cover” in response to the COVID-19 pandemic. The aim, according to the FCA, was to obtain an “authoritative declaratory judgment” that would “resolve some key contractual uncertainties” in policy wordings. This would provide a “basis” for determining payments under individual policies and for decisions by the Financial Ombudsman. Continue reading
REUTERS | Ilya Naymushin
June 2, 2020
Who regulates the regulators?
Below I report the decision of the Court of Appeal in Flynn Pharma Ltd and Flynn Pharma Holdings Ltd v Competition and Markets Authority, concerning the circumstances in which a regulator who brings regulatory proceedings and loses should pay the successful party’s costs. This raises the wider question of whether regulators should enjoy virtual immunity from costs, and indeed regulation and accountability. Continue reading