The litigation funding industry had a shock when the Supreme Court delivered its ruling in PACCAR Inc v Competition Appeal Tribunal. But what’s the extent of the damage?
In this week’s NLJ, Lucy Keane, Counsel at Signature Litigation, looks at the facts, law and reasoning behind this seismic judgment.
Keane writes: ‘It is clear this shock ruling could have profound and long-lasting implications for public access to justice; for the litigation funding industry in the UK; and for litigation lawyers for whom third-party funding has become an accepted and necessary source of funding for clients, often in high-value and complex cases.
‘Without this funding, it is conceivable that many significant cases could simply wither away and die.’
Nevertheless, there is scope for optimism, including among some funders themselves. Whatever the future holds, Keane predicts there will be ‘more twists and turns’ to come
