Tough enough? Jason Woodland and Caroline Timoney in New Law Journal
The issue of regulating the ligation funding market is back on the agenda, this time in Europe, with the European Parliament adopting in July an initial legislative report on responsible private funding of litigation.
The report was authored by German MEP Axel Voss, who had previously described litigation funding as “happening largely in the shadows”, and that “most agreements are made in secret – rendering them ripe for abuse”. Unsurprisingly, the report calls for a variety of radical reforms.
Should the EU move forward with the proposals, what is the likelihood of similar measures being adopted for in England and Wales?
In this article for New Law Journal (see page 20), Jason Woodland and Caroline Timoney investigate whether the approach to litigation funding in England and Wales is “soft” and whether regulation is on its way.