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ARTICLE · 29 AUGUST 2017

Litigation Funding: A Review

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The current talk of the Disputes world is funding.

United KingdomLitigation, Mediation & Arbitration
Nicola Gare
Nicola Gare

The current talk of the Disputes world is funding. Litigation, third party call it what you will, funding litigation or arbitration1 is definitely of the moment, with increasing scope, both geographically and in terms of types of actions being funded.

Litigation funding is a financing arrangement in which the funder agrees to pay the client's (who is usually, but not exclusively, the claimant party) legal fees to include experts, external counsel and other disbursements, in accordance with an agreed budget.

Background

Funding's evolution has increased at pace over the last 10 years' and has come a long way since for example the 1960s and before in England, when it was considered champertous and to engage in 'maintaining' the litigation would be considered a criminal offence, since abolished by the Criminal Law Act 1967 (CLJ 1967).

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