The Ministry of Justice has today (17 December) announced plans to regulate the litigation funding sector, bringing an end to more than two years of uncertainty following the 2023 Supreme Court judgment in PACCAR – but uncertainties over the nature of the reforms remain.
The plans will see the government legislate to allow funding agreements that offer returns as a percentage of damages, amid a raft of other measures that the government says will aim to make funding ‘fair and transparent’ for claimants and help maintain the competitiveness of English and Welsh courts.
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