The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
The proposed regulation of third-party litigation funders has come under fire for failing to bring full transparency to the sector.
A draft code of conduct seen by The Lawyer stipulates that the assets of members of the proposed Third Party Litigation Funders Association should exceed liabilities, and that the ultimate parent company be a regulated insurance company covered by EU capital adequacy standards.
But according to a senior litigation funder, the code goes too far. “The contract [between client and funder] will set out exactly what the obligations are,” he said. “This isn’t something that should be dictated by regulators – that would just stifle the sector.”
According to one senior litigator, however, the code treats third-party funders with “leniency”. Another litigator criticised the code for not requiring funders to disclose where they source money from, saying: “You need full disclosure – it’s very difficult to see how these instruments are structured.”