On June 22, ILR and twelve European business and trade associations released a joint statement in support of the European Parliament Legal Affairs Committee legislative own-initiative report on Responsible Private Funding of Litigation.
Third party litigation funding (TPLF) is growing exponentially in the EU, yet the practice is largely unregulated, unlike any other financial or legal commercial practice.
European policymakers should not delay in addressing this growing financial industry with sensible safeguards for effective oversight of TPLF in all areas of law and types of litigation.
The 13 organizations support the efforts of the JURI Committee in preparing a Parliament resolution on responsible private funding of litigation and call on the Commission to act.
A vote on the Responsible Private Funding of Litigation report will take place in the Parliament Legal Affairs Committee on July 14.