Last week’s ruling of the English Court of Appeal upheld a High Court
judgment from 2013 forcing the litigation funding companies who
invested in the case of Excalibur Ventures v. Texas Keystone to pay
more than 20 million pounds to the prevailing defendants, two of which were U.S. companies represented by the U.S. counsel, pursuant to the English “loser pays” rule.
The decision serves as a cautionary tale for litigation funders, especially newcomers as was the case in Excalibur, likely requiring more in-depth analysis of claims viability and other due diligence.
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Summarized by Samantha Devotes