Major Australian Litigation Funder to Return to Europe
07th Dec 2018
As the European Parliament deliberates on a bill that would bring U.S.-style class actions to the European Union, one of the world’s largest litigation funders announced that it will return to the continent for the first time in two years.
According to Commercial Dispute Resolution News, IMF Bentham’s new fund with draw on $300 million investment capital to invest across Europe and the United Kingdom. The move comes as the European Parliament is working on a piece of legislation on collective redress that can potentially expand the litigation industry on the continent. The Legal Affairs Committee (JURI) advanced the bill yesterday.
U.S. Chamber Institute for Legal Reform President Lisa A. Rickard said the EU legislation as written may potentially “import the abuses of the U.S. class action system, which primarily benefits lawyers and profit-seeking third-party investors in lawsuits.”