Class action funding in the UK.
“In the UK, up until around 20 years ago, any contingency fee arrangement was absolutely prohibited. With limited exceptions, litigation funding simply did not exist. We have moved very rapidly into a situation where litigants have ready access to litigation funders and to law firms who take risks through contingency or conditional fee agreements. This rapid change was made possible in part by a new philosophy coming from the US, namely the idea that the private sector can enable access to justice and make a profit by funding litigation.”
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