Litigation Funding Regulation Gets EU Parliament Support

Litigation Funding Regulation Gets EU Parliament Support

By Joel Poultney (September 13, 2022, 6:12 PM BST) — European lawmakers on Tuesday voted overwhelmingly in favor of introducing a new regulatory framework to prevent abuses caused by third-party-funded lawsuits, teeing up the bloc’s executive to introduce formal proposals.

The European Parliament has approved a report seeking to protect member states against the “global trend” for third-party litigation funding. (iStock.com/sinonimas)

The European Parliament approved the report penned by German lawmaker Axel Voss that seeks to protect member states against the “rapidly expanding global trend” of third-party litigation funding.

The funding model allows private financiers, such as investment funds, to strike confidential deals with lawyers to bankroll lawsuits in exchange for…

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