International Legal Finance Association (ILFA)

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

In The Guardian, consumer champions and claimants have joined forces in an open letter urging the UK Government to protect the vital litigation funding sector that helped Sir Alan Bates take on the Post Office.   The letter highlights how litigation funding provides access to justice to those who could not otherwise afford it, allowing "David" to take on "Goliath." However, the Supreme Court’s PACCAR ruling has thrown the sector into uncertainty. The signatories warn the UK Government is "dragging its heels on addressing the issue." They call on Prime Minister Sir Keir Starmer to introduce a quick simple legal fix to safeguard access to justice. Without this fix, they argue, uncertainty for claimants will persist, and cases like the Post Office scandal might never see justice. https://lnkd.in/eUC3jJ5u

The International Legal Finance Association (ILFA) is excited to welcome IVO Capital Partners as the association’s 25th member. The Paris-based firm has established itself as a leader in the European legal finance industry, boasting over a decade of experience in litigation funding. IVO has invested over $166 million in 64 cases across a wide array of geographies and action types and is currently deploying its third legal finance fund, IVO Legal Strategies Fund III SLP. Read more about ILFA’s newest member: https://lnkd.in/dRPnhTYj

Our newest ILFA insight examines IPWatchdog, Inc’s piece on the House Judiciary subcommittee hearing titled “The U.S. Intellectual Property System and the Impact of Litigation Financed by Third-Party Investors and Foreign Entities,” in which Intellectual property expert Gautham Bodepudi slammed committee witnesses for misrepresenting the causes of high litigation costs. Bodepudi’s expert analysis is a reminder that unnecessary legal finance regulations would inhibit inventors, businesses, and entrepreneurs from protecting their patent rights and businesses. Read more: https://lnkd.in/ezXFGKz3

In City AM, Professor Carolyn Roberts highlights the crucial role of litigation funding in challenging polluting water companies. Drawing parallels with the Post Office scandal, she warns that the UK government's delay in fixing the PACCAR ruling threatens this vital route to justice. Prof Roberts explains how litigation funding enables cases like hers, which seeks over £800m in compensation for more than 20 million UK households affected by water companies' alleged misleading practices.  She urges the UK government to act swiftly, cautioning that inaction could significantly hinder access to justice for bill payers and others relying on litigation funding to challenge corporate wrongdoing. https://lnkd.in/ewBAddij

It’s deeply disappointing the Ministry of Justice UK has taken the decision to seemingly deprioritize access to justice for people like the sub-postmasters by kicking the can down the road. As the Justice Secretary herself has said - "Justice delayed is justice denied."   When people like Alan Bates, a former Lord Chief Justice, and politicians from across the political divide are all united in backing a fix, it’s difficult to understand why the Government won’t bring forward a simple and speedy solution for the benefit of claimants and the wider legal sector.   The issues are clear, the solutions are known, and the need is urgent. The Government needs to take action now to restore the UK's position as a global leader in legal services and access to justice.   Read more: https://lnkd.in/eeAmHHyH

Our newest ILFA Insight presents a case study on member Burford Capital, analyzing how the firm’s legal finance offerings helped a small farming business, Underwood Ranches, defend its meritorious award against a deep-pocketed corporation. Burford’s financing allowed Underwood Ranches to continue operations during the appeal of a contract dispute with Huy Fong Foods, one of the largest hot sauce producers in the U.S., that had previously been ordered to pay millions in damages for violating its contract with the farm. Read the complete case study here: https://lnkd.in/edyf2bEB

In a recent ILFA Insight, we dive into a case study highlighting how member firm GLS Capital helped a small nanotechnology company, UK-based Nanoco Technologies, protect its foundational patents against one of the world’s largest corporations. After electronics giant Samsung allegedly infringed on several of the company’s patents, GLS Capital’s financing created previously unavailable avenues for Nanoco to access justice against an opponent with far greater legal resources, ultimately supporting the company’s growth and empowering its technological innovation. Read the complete case study here: https://lnkd.in/gNi7EDDh

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Convening professionals and experts from around the world, ILFA's New York Conference explored the state of legal finance and its future from a multi-industry perspective. Our ILFA insight provides an overview of the critical topics our speakers discussed. Read the full insight here: https://lnkd.in/e5gqi8D6