Allianz to Launch Lawsuit-Financing Fund in UK
Further to our post in February 2007 about the emerging lawsuit-financing industry in the UK, this article in today’s Legalweek.com reports that insurer Allianz is preparing to launch its own litigation fund in the UK called “Allianz ProzessFinanz” on November 1. Allianz reportedly will “be looking to invest in commercial disputes.”
Clifford Chance partner Matthew Newick is quoted in the article as stating that “this is an interesting development which could give class action activity in the UK and Europe a boost. Third-party funding will start to chip away at the structural differences between UK and US litigation.”
