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While it was anticipated that the government would try to reduce all forms of civil litigation funding at some point, it was not expected that they would import alternative civil litigation funding legislation under the radar.
Harbour Litigation Funding, the largest funder of its kind in the UK, has raised £400m to invest in court claims.
The suit is being financed entirely by Roland Prozessfinanz, a specialist litigation funding company, which will take 20% of any damages awarded.
"Because of our long history as a litigation funding company we are used to levelling the playing field in the fight between David and Goliath.
"While some of it may be filled, at significant cost to creditors and the UK, by litigation funding, this does not help the majority of claims, where victims include the taxpayer.
In a system where all but a small percentage of cases settle before trial, he wrote in the Georgetown Law Journal, litigation funding fortifies the weaker party "to counter the stronger party's bargaining advantage" in settlement talks.
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After four years of litigation funded by a billionaire with a grudge going back even further, a settlement has been reached, Gawker founder Nick Denton said in a blog post.
And they are aided in this bulking up by the so-called regulators, who can clear pesky obstacles (formerly known as bank customers and clients) by just legally dismissing their claims or offering up threats of litigation funded by a bottomless federal purse.
That's why we are supporting the Anti-Tobacco Trade Litigation Fund with Bloomberg Philanthropies".
"The Legislative Assembly before it adjourns should appropriate dollars for a litigation fund available to the attorney general," the governor suggested.
The litigation fund is registered in the Netherlands, but many decisions are made from its Bentham Europe offices in London by a team led by the chief investment officer, Jeremy Marshall, a British lawyer with more than 20 years' litigation experience.
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