The Future of Funding Collective Actions in the UK
01 Mar 2024
Location: 12:00-1:00pm UK Time (Zoom) Members: FREE to attend - Book by 01 Mar Non Members: Register above as a member, and attend for FREE - Book by 01 Mar
Highlights
Uncertainty beset the UK’s growing litigation funding market following the Supreme Court’s surprising decision in PACCAR, where it was decided that litigation funding agreements under which funders are remunerated by a portion of awarded damages are damages-based agreements, and therefore unenforceable unless compliant with the Damages-Based Agreements Regulations 2013. Damages-based agreements also cannot be used for collective proceedings in the Competition Appeal Tribunal (CAT), as per the CAT Rules.
In this webinar, we will discuss the aftermath of that decision for the litigation funding market, and the current state of play for funding collective actions in the UK. As part of this, we will discuss a string of recent decisions from the CAT which considered funding agreements backing collective actions that were revised to address the concerns raised by the court in PACCAR. Finally, we will explore the key legislative developments to look out for this year, including the Digital Markets, Competition and Consumers Bill and the Justice Secretary’s comments in response to the Post Office Scandal, and what these shifts will mean for parties seeking to obtain funding for their cases.
Topics include:
- The aftermath to and current state of play for funding collective actions in the UK after PACCAR.
- Recent decisions from the CAT on conditional damages-based returns.
- What to expect going forward: upcoming legislative developments intended to reverse PACCAR via the DMCC Bill and in light of the Post Office Scandal.
Partner
BCLP
Andrew specialises in competition litigation, having acted for both claimants and defendants in disputes arising out of price fixing cartels, in addition to advising on litigation concerning abuse of dominant positions in marketplaces. Andrew has experience of litigating disputes in various courts in the U.K., including the High Court of Justice, the Competition Appeal Tribunal and the Court of Appeal. He has advised clients in a range of regulated and non-regulated industry sectors, including industrial manufacturers, financial institutions and technology companies. Andrew also has experience in commercial litigation, including disputes involving complex financial products.
BCLP
Associate
BCLP
Anoma is an Associate in the firm's Business and Commercial Disputes department. Anoma has advised clients both in the UK and abroad, and has dealt with a wide range of general commercial and contractual disputes, including acting in group litigation and both investment treaty and commercial arbitrations.
BCLP
Investment Manager
Omni Bridgeway
Simon Latham is an Investment Manager based in Omni Bridgeway’s London office where he is responsible for sourcing, evaluating, negotiating, and monitoring investments through to resolution. Simon has a particular focus on competition/antitrust disputes and collective redress across the UK and Europe. Simon has arranged financing for multinationals, class representatives, law firms and SMEs.
Widely regarded as a thought leader in the industry, Simon’s expertise has been recognised by The Legal 500 (Litigation Funding) and Who’s Who Legal: Thought Leaders. He is a frequent speaker and panelist on the topics of litigation funding, competition litigation and collective redress and was formerly the editor of The Third-Party Litigation Funding Law Review.
Prior to joining Omni Bridgeway, Simon was Head of Competition investments at another global litigation funder. Before his career in funding, Simon was a solicitor at Hausfeld in London, acting exclusively for claimants in competition and commercial litigation, often across multiple jurisdictions. He holds an LLM in intellectual property law and a postgraduate diploma in competition law from King’s College
Omni Bridgeway
Agenda
Speakers:
Andrew Leitch - Partner - BCLP
Anoma Rekhi - Associate - BCLP
Simon Latham - Investment Manager - Omni Bridgeway
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