Will The UK Supreme Court Decision In PACCAR Affect Hong Kong Litigation Funding? - Litigation Finance Journal
Check out my recent article: https://litigationfinancejournal.com/will-the-uk-supreme-court-decision-in-p... The Hong Kong Department of Justice’s approach to litigation finance and third party funding is coming into greater focus following the UK Supreme Court’s July 26, 2023 ruling on R. (on the Application of PACCAR Inc) v Competition Appeal Tribunal [2023] UKSC 28. Mondaq reports that PACCAR has defined “damaged-base agreements” or “DBAs” in the United Kingdom. DBAs are strictly regulated in the UK, now including litigation funding agreement contract law. Many UK courts have operated under the assumption that funding of litigation agreements does not fall under the purview of DBAs. PACCAR’s Supreme Court decision has sparked a fervent debate around this topic. Mondaq says that Hong Kong DBA relevancy differs from the UKs DBA approach. Specifically, in Hong Kong, champerty and maintenance are illegal factors that can lead to a fine and prison sentence. It’s important to note that Hong Kong does allow waivers to the general prohibition of litigation investment if: 1. Third parties share a common interest in funding the outcome of a case. 2. Accessible justice is a prime consideration. 3. Insolvency proceedings are necessary.
Sat, Nov 11, 2023, 10:43 AM ---------- Forwarded message --------- From: Gunnar Larson <g@xny.io> Date: Sat, Nov 11, 2023, 10:43 AM Subject: Will The UK Supreme Court Decision In PACCAR Affect Hong Kong Litigation Funding? - Litigation Finance Journal To: <cypherpunks@cpunks.org> Check out my recent article: https://litigationfinancejournal.com/will-the-uk-supreme-court-decision-in-p... The Hong Kong Department of Justice’s approach to litigation finance and third party funding is coming into greater focus following the UK Supreme Court’s July 26, 2023 ruling on R. (on the Application of PACCAR Inc) v Competition Appeal Tribunal [2023] UKSC 28. Mondaq reports that PACCAR has defined “damaged-base agreements” or “DBAs” in the United Kingdom. DBAs are strictly regulated in the UK, now including litigation funding agreement contract law. Many UK courts have operated under the assumption that funding of litigation agreements does not fall under the purview of DBAs. PACCAR’s Supreme Court decision has sparked a fervent debate around this topic. Mondaq says that Hong Kong DBA relevancy differs from the UKs DBA approach. Specifically, in Hong Kong, champerty and maintenance are illegal factors that can lead to a fine and prison sentence. It’s important to note that Hong Kong does allow waivers to the general prohibition of litigation investment if: 1. Third parties share a common interest in funding the outcome of a case. 2. Accessible justice is a prime consideration. 3. Insolvency proceedings are necessary.
Sat, Nov 11, 2023, 10:43 AM Gunnar Larson's HK recovery debate... ---------- Forwarded message --------- From: Gunnar Larson <g@xny.io> Date: Sat, Nov 11, 2023, 10:43 AM Subject: Will The UK Supreme Court Decision In PACCAR Affect Hong Kong Litigation Funding? - Litigation Finance Journal To: <cypherpunks@cpunks.org> Check out my recent article: https://litigationfinancejournal.com/will-the-uk-supreme-court-decision-in-p... The Hong Kong Department of Justice’s approach to litigation finance and third party funding is coming into greater focus following the UK Supreme Court’s July 26, 2023 ruling on R. (on the Application of PACCAR Inc) v Competition Appeal Tribunal [2023] UKSC 28. Mondaq reports that PACCAR has defined “damaged-base agreements” or “DBAs” in the United Kingdom. DBAs are strictly regulated in the UK, now including litigation funding agreement contract law. Many UK courts have operated under the assumption that funding of litigation agreements does not fall under the purview of DBAs. PACCAR’s Supreme Court decision has sparked a fervent debate around this topic. Mondaq says that Hong Kong DBA relevancy differs from the UKs DBA approach. Specifically, in Hong Kong, champerty and maintenance are illegal factors that can lead to a fine and prison sentence. It’s important to note that Hong Kong does allow waivers to the general prohibition of litigation investment if: 1. Third parties share a common interest in funding the outcome of a case. 2. Accessible justice is a prime consideration. 3. Insolvency proceedings are necessary.
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Gunnar Larson