REUTERS | Dani Cardona

In an earlier piece I proposed implied probability of loss as a means of analysing the risk of a single case investment. In this piece I will use the implied probability of loss to look at cases with different risks at different stages, and then to look at some different models for co-funding transactions with other funders, including a concept of dollar-weighted risk. Finally, I’ll propose a structure to allow two funders to fund a case that might otherwise be outside the risk parameters of either of them individually.

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REUTERS | Dinuka Liyanawatte

From 1 October 2019, significant changes to CPR 53 will come into force, establishing the Queen’s Bench Division’s (QBD) Media and Communications List (M&C list), a specialist list of the High Court to deal with claims arising in the area of media and communications. The M&C list was created in May 2017 but had not been reflected in the CPR prior to these changes. The existing CPR 53 solely related to defamation claims, and was seen by many to be significantly out of step with current practice in media and communications litigation. Continue reading

REUTERS | Ilya Naymushin

There is only one thing in the world worse than being talked about, and that is not being talked about.”

How true the words of Oscar Wilde would have rung for the litigation funding market ten years ago. Struggling at the time for any publicity or endorsement from the broader legal market, the kind of mainstream press coverage generated by the current Burford Capital siege would have been very welcome. The opportunity to promote general awareness of litigation funding; to champion its ability to unlock meritorious claims; and access to very attractive, uncorrelated returns in a low yield environment.

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REUTERS | David Gray

It seems a year is a long time in costs jurisprudence. In July 2018, I wrote a piece for this blog which explored the case of Bratek v Clark-Drain Limited. In that case, the court considered the question of whether it was possible for fixed costs to be avoided if the consent order agreed at the conclusion of the action specified that costs were to be paid on the standard basis. In keeping with the general trend of the courts to limit avenues out of the fixed costs regime (notably evident in the Court of Appeal decision in Sharp v Leeds City Council), HHJ Yelton in Bratek found that the fixed costs provisions in CPR 45.29 were absolute and incapable of being avoided by the wording of a consent order. The point, therefore, appeared to be resolved, and another door to escape fixed costs was closed. Continue reading

REUTERS | Reuters

The Singapore Convention (Convention) has received widespread attention since it was signed on 7 August 2019. Not only did its tally of 46 first-day signatories break the record for any United Nations trade convention, it also included the world’s two largest economies, China and the US. Continue reading

REUTERS |

It is bewildering when it appears that what should be a fundamental and straightforward understanding of law and practice nevertheless generates arguments before the court, with a consequent expenditure of substantial time and resources.

One of these fundamental elements is for a lawyer to know not only what they can charge but also what to advise clients about the extent of their entitlement to charge and, where costs are recoverable from another party, the extent to which this could happen.

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REUTERS | David Bebber

“See you in court” was an oft-used expression prior to the implementation of the Woolf Reforms which involved the replacement of the Rules of the Supreme Court by the Civil Procedure Rules (CPR) with effect from 26 April 1999. With the introduction of the CPR, the intention was that there would be no more “firing off a writ and seeing what happens”. On the contrary, prospective litigants were to make every effort to settle their differences via pre-action protocols with the intention of avoiding court altogether.

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REUTERS |

In Lomax v Lomax, the Court of Appeal had to decide the effect of CPR 3.1(2)(m), which refers to the court’s powers as including “…hearing an Early Neutral Evaluation…”.

Rule 3.1 contains the court’s “general powers of management” and sets out a “list of powers” which are in addition to any other powers the court may have.

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REUTERS | Edgar Su

On 7 August 2019, in Singapore, I had the pleasure of watching the signing ceremony of the UNCITRAL Convention on the Settlement of Disputes Resulting from Mediation, otherwise to be known as “the Singapore Convention”. The Convention, approved by UNCITRAL in June 2018, has been signed by 46 countries, the highest number of “first day” signatories ever for a UNCITRAL Convention. They are: Continue reading

REUTERS | Mohamad Torokman

It is not often that litigation funding makes the national, let alone international news, but the recent allegations made by Muddy Waters in respect of Burford Capital’s accounting practices have even captured the interest of many mainstream media outlets. Whether the accusations stem from a lack of understanding about the risks involved in this incredibly niche market, or whether they have substance, is for investment analysts and the investment community to debate. But we can be sure that headlines such as these will always attract scrutiny by those looking for reasons to denounce litigation funding. Such detractors will link any negative news about the industry to the need for regulation and greater oversight. Continue reading