Litigation Finance Industry Growing, but “Fuels an Unhealthy Litigation Culture”

Third-party litigation financing is growing quickly, “but powerful critics allege that it fosters an ‘unhealthy’ litigation culture,” reports the Law Society Gazette.

Detractors of the litigation finance industry, “the biggest and most vocal enemy being the U.S. Chamber of Commerce – insist that the industry fuels an unhealthy litigation culture,” reports the Gazette. “According to the U.S. Chamber, the funding industry has expanded by 743% in the last five years, with £1.5bn of known assets now under management. There are currently around 15 litigation funding companies, and new funds are launched around every six months.”

Those numbers are based on a recent report released by ILR’s “Justice Not Profit” campaign, which you can view here.