Last year we discussed the impact of funding insolvency litigation following the Supreme Court decision in PACCAR where the court found that litigation funding agreements (LFAs) were damaged based agreements. This meant that unless LFAs complied with the Damages Based Agreements Regulations 2013 (DBA Regulations), they were unenforceable. Although concluding that the outcome of the … Continue Reading
Although a non-insolvency case the recent case of PACCAR Inc & Ors v Competition Appeal Tribunal & Ors (“PACCAR”) has caused waves in the litigation market (including insolvency litigation market) following the Supreme Court finding that litigation funding agreements (LFAs) where funders recover a percentage of the amount awarded to a claimant are damaged based … Continue Reading
The recent case of Re Lloyds British Testing Ltd [2023] is a reminder not to forget that in the right circumstances a director’s occupational pension pot might be a valuable source of funds that an Insolvency Practitioner (IP) can access to recover an unpaid debt due from a former director. Background In this case, an … Continue Reading
In a continuation of our Australian litigation funding series, Masi Zaki and Kate Spratt examine the recently announced reforms by the Australian government and the welcome relief for litigation funders, their investors and proponents in this insight.… Continue Reading
In the common law world, Australia is a global market leader in terms of intense litigation in class action and corporate collapse contexts. It is, therefore, not surprising that contradictors are becoming increasingly common in heavily contested litigation. In our latest alert in our litigation funding series, we consider whether contradictors will have an important … Continue Reading
The Australian High Court has handed down judgment in a long-running dispute concerning former ASX listed Arrium Limited. The decision will be welcomed by individuals (particularly shareholders) and litigation funders, who may be seeking to conduct investigations into potential claims against a company in external administration, counterparties to that entity, its former or current advisors … Continue Reading
The Ministry of Justice is seeking feedback from key stakeholders on the impact of Part 2 of the LAPSO reforms, which abolished the recoverability of success fees under CFAs and after the event insurance premiums. Until April 2015 insolvency claims were exempt, enabling insolvency practitioners to pursue claims and if successful recover any success fee … Continue Reading
A great deal of insolvency litigation is funded by non-parties to a claim – for example, by a creditor or an “after the event” (ATE) insurer. Ordinarily such arrangements and their precise terms are confidential and are not required to be fully disclosed to a counterparty in litigation. In the recent case of Re Hellas Telecommunications (Luxembourg) [2017] EWHC 3465 … Continue Reading
Health Warning: This Blog may not be historically accurate If, like me, you have recently attended one of the many St Patrick’s Day parades that have taken place across the UK and worldwide, you are no doubt acutely aware that St Patrick was a polyester clad leprechaun with a penchant for drinking Guinness and turning … Continue Reading
