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NLJ this week: Litigation funding, big money & commoditisation

11 November 2022
Issue: 8002 / Categories: Legal News , Litigation funding , Regulatory
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NLJ columnist Roger Smith, former director of JUSTICE, looks at the area of third-party litigation funding in this week’s issue. It’s an area that has been subject to rapid change, now providing funding to the tune of more than £2bn.

Currently, EU regulatory proposals are causing concern in the market. What regulation should apply? What potential concerns does this commercial practice create?

Smith writes: ‘Third-party funding is part of prudent commercial practice. Nothing is necessarily wrong with that. But we have to acknowledge that law, justice and the courts are being commoditised.’ See p6.

See Roger Smith's opinion piece in full here.

MOVERS & SHAKERS

Clarke Willmott—Declan Goodwin & Elinor Owen

Clarke Willmott—Declan Goodwin & Elinor Owen

Corporate and commercial teams in Cardiff boosted by dual partner hire

Hill Dickinson—Joz Coetzer & Marc Naidoo

Hill Dickinson—Joz Coetzer & Marc Naidoo

London hires to lead UK launch of international finance team

Switalskis—11 promotions

Switalskis—11 promotions

Firm marks start of year with firmwide promotions round

NEWS
Regulators differed in the clarity and consistency of their post-Mazur advice and guidance, according to an interim report by the Legal Services Board (LSB)
The dangers of uncritical artificial intelligence (AI) use in legal practice are no longer hypothetical. In this week's NLJ, Dr Charanjit Singh of Holborn Chambers examines cases where lawyers relied on ‘hallucinated’ citations — entirely fictitious authorities generated by AI tools
The next generation is inheriting more than assets—it is inheriting complexity. Writing in NLJ this week, experts from Penningtons Manches Cooper chart how global mobility, blended families and evolving values are reshaping private wealth advice
Artificial intelligence (AI) is rapidly transforming sport, from recruitment and training to officiating and fan engagement. Writing in NLJ this week, Professor Dr Ian Blackshaw of Valloni Attorneys at Law explains how AI now influences everything from injury prevention to tactical decisions, with clubs using tools such as ‘TacticAI’ to gain competitive edges
The Solicitors Act 1974 may still underpin legal regulation, but its age is increasingly showing. Writing in NLJ this week, Victoria Morrison-Hughes of the Association of Costs Lawyers argues that the Act is ‘out of step with modern consumer law’ and actively deters fairness
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