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IDEAL FOR COMMERCIAL PRACTITIONERS:
A READABLE AND TIMELY EXAMINATION
OF LITGATION FUNDING
An appreciation by Phillip Taylor MBE and Elizabeth Taylor of Richmond Green Chambers
With cutbacks in legal aid, access to justice has become all too limited for those of limited means -- which is why the recent publication of this new title from Oxford University Press is therefore all too timely. As Sir Rupert Jackson explains in the foreword, ‘this book deals with one important aspect of the 2013 civil justice reforms, namely means of funding civil litigation.’
The book concentrates on the commercial world, focusing mainly on the funding of single litigation matters in the courts of England and Wales by professional litigation funders of which the author, Nick Rowles-Davies, is one.
After writing this book, but prior to its publication, Rowles-Davies became managing director of the world’s largest litigation finance firm and is well able to explain the complexities of the emerging litigation funding landscape which, for a number of reasons can only become larger and more significant.
Commercial lawyers -- in particular those with larger corporate clients -- will need to acquire an in-depth understanding of the processes, procedures and guidelines involved in litigation funding which this book amply provides with insight and clarity.
But note that although this burgeoning industry offers a wide range of financial products, the principal focus of this book –as the author points out-- is single-case funding, although other funding options are also explored.
‘Simply put,’ says Rowles-Davies, ‘litigation funding, or third party funding is the process whereby… a ‘funder’ that has no direct interest in a piece of litigation, pays the legal fees of one of the parties.’ The most common model in this area of high financial risk (but by no means the only model) is that the funder receives a return on this form of investment based on the proceeds resulting from the successful outcome of the case.
The book certainly provides practitioners with valuable guidance on, we would assume, every pertinent aspect of third party litigation funding, including how it works, its history and development… and why, when and when not to implement it.
Other crucial issues including costs and insurance, professional obligations and regulatory issues are also well examined for the practitioner. Particularly useful are the chapters on Jackson and DBAs (Damages Based Agreements) and “Funding and the Future”.
Interesting and illustrative case studies abound and the position of litigation funding in over a dozen overseas jurisdictions is also examined. In the five appendices, you’ll find, for example, the Litigation Funding Agreement and the Code of Conduct for Litigation Funders. These resources, plus the tables of cases and of legislation make this well written and accessible volume indispensable for all commercial practitioners and indeed anyone pondering the pros and cons of litigation.
- Hardcover: 288 pages
- Publisher: Oxford University Press; 1 edition (December 30, 2014)
- Language: English
- ISBN-10: 0198715927
- ISBN-13: 978-0198715924
- Product Dimensions: 9.7 x 6.9 x 0.9 inches
- Shipping Weight: 1.6 pounds (View shipping rates and policies)
- Average Customer Review: 1 customer review
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Amazon Best Sellers Rank:
#3,190,668 in Books (See Top 100 in Books)
- #2475 in Civil Law Procedure (Books)
- #24817 in Law (Books)
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