Litigation funders ordered to pay indemnity costs

A High Court decision handed down yesterday (23 October) has significant implications both for third parties who fund litigation on commercial terms and for defendants who face claims brought with the benefit of such funding: Excalibur Ventures LLC v Texas Keystone Inc and others [2014] EWHC 3436 (Comm). The judgment suggests that, where a claim is unsuccessful, the funder … Read more

Costs budgeting to be extended to cases below £10 million in all courts

The current exceptions to the mandatory costs budgeting regime are set to be replaced by an exception for claims of over £10 million across all courts, following a recommendation by Lord Justice Richards, the Chair of the Civil Procedure Rule Committee (CPRC), and Lord Dyson, the Master of the Rolls. There will still be a discretion to … Read more