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June 7, 2017

Pressure Mounts on Third-Party Funders in the UK

Recently, the Royal Bank of Scotland successfully obtained orders “forcing claimants to disclose the identity of their funders,” writes the Law Society Gazette.

Similarly, in March, the UK High Court ordered a claimant group in the RBS Rights Issue Litigation to reveal the identity of its funders to enable the bank to consider whether to apply for security for costs against them.

This all comes as the Institute for Legal Reform and two dozen other business organizations have submitted a petition to the Administrative Office of the U.S. Courts requesting mandatory disclosure of third party funding in federal civil cases.

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