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ENGLAND'S UNIQUE APPROACH TO THE SELF-REGULATION OF THIRD PARTY FUNDING: A CRITICAL ANALYSIS OF RECENT DEVELOPMENTS
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ENGLAND'S UNIQUE APPROACH TO THE SELF-REGULATION OF THIRD PARTY FUNDING: A CRITICAL ANALYSIS OF RECENT DEVELOPMENTS
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ENGLAND'S UNIQUE APPROACH TO THE SELF-REGULATION OF THIRD PARTY FUNDING: A CRITICAL ANALYSIS OF RECENT DEVELOPMENTS
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Journal Article
ENGLAND'S UNIQUE APPROACH TO THE SELF-REGULATION OF THIRD PARTY FUNDING: A CRITICAL ANALYSIS OF RECENT DEVELOPMENTS
2014
Overview
Third Party Funding is governed by a unique and unparalleled legal framework in English law. That framework consists of: the recent 2014 Code of Conduct for Litigation Funders, its supervision by the Association of Litigation Funders, and sporadic judicial oversight of Litigation Funding Agreements – and with some unenacted legislation in the background for good measure. The purpose of this article is to analyse and critique this unique regulatory regime in several key respects. These include: the capital adequacy required of Funders; the key anti-champerty factors either judicially stipulated or contained within the 2014 Code; the efficacy and fairness of the so-called “Arkin cap”; the grounds upon which a Funder may legitimately withdraw funding; and the impact of recent contingency fee reforms. Overall, Third Party Funding represents an evolving and controversial landscape, both legally and politically.
