Therium Capital Management reposted this
The European Law Institute (ELI), an independent research organization, is cautioning against imposing new rules on litigation funding in its new report, “Principles Governing Third Party Funding of Litigation (TPFL).” The study, the product of two years of investigative work by the nonprofit, argues a “one-size-fits-all" approach to regulating the industry could choke off access to the justice system for litigants and funders. “This new report, authored by seasoned legal observers, recognizes that commercial legal finance increases access to justice for European businesses and consumers and provides ‘vital improvement in access to justice’ when made available,” said International Legal Finance Association (ILFA) Co-Founder and Chairman Neil Purslow. “ILFA agrees with the report’s conclusion that proscriptive one-size-fits-all regulation isn’t appropriate for a sector like ours. It risks funders ceasing to offer funding, inevitably leading to what the authors rightly identify as ‘serious access to justice issues.” Read the report in its entirety here: https://lnkd.in/e7hd3Xz9