Tag Archives: Litigation funders

ILN Today Post

The beginning of unlimited costs liability for litigation funders?

Litigation funders may be feeling uneasy after the recent High Court decision of Bailey v Glaxosmithkline[1]. Until this decision, funders could justifiably have assumed that they would only be ordered to pay security for costs up to the level of their funding, an application of the so called “Arkin cap”[2]. Foskett J has shown this assumption to be wrong, ordering the claimants’ funder to pay £1.75 million into court as security for the defendant’s costs, a sum well in excess of their £1.2 million funding.

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