New Judgment: R (on the application of PACCAR Inc and others) v Competition Appeal Tribunal and others [2023] UKSC 28 – UKSC Blog
‘This appeal concerns a matter of statutory interpretation in the context of litigation funding. Litigation funding involves the agreement of a third party (with no prior connection to the litigation) to finance all or part of the legal costs of certain litigation, in return for a percentage of any damages recovered should the funded litigant be successful. In particular, this appeal concerns whether each of the agreements to provide this funding, known as litigation funding agreements (“LFAs”), constitute a “damages-based agreement” (“DBA”), a term given a specific definition by statute. In order to be lawful and enforceable a DBA has to satisfy certain conditions. The LFAs have been entered into without satisfying those conditions, so the question whether they constitute DBAs is critical for their enforceability.’
UKSC Blog, 26th July 2023
Source: ukscblog.com
