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Litigation Funding Market Heats Up In New Zealand |
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Source:
LawFuel.com
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Posted on Wednesday, December 14, 2011
LawFuel.co.nz -
Competition in the litigation funding market is heating up in New Zealand with the entry of a new player, Juria Capital, who have entered the market and expecting further venture capital investment in the first quarter of next year to further expand their operation.
Read the full story on LawFuel New Zealand Law News
The company provides funding for a variety of commercial, contractual and matrimonial disputes and faces competition from current operators, including Quantum Litigation and LPF Group.The increase in litigation funding vehicles in other jurisdictions has created alarm in some quarters, with the placement of profits over justice. But the increased use of litigation funding combined with radical scaling back of legal aid in both the UK and New Zealand, is likely to strongly support growth for the sector.
Juria director Finn Brooke said his company saw the continued growth of litigation funding internationally as encouragement to enter the local market, which Juria believe is under-serviced.
The increased cost of litigation, particularly in a ‘down’ economy, also made the funding option more attractive. He also pointed to “high level” judicial support for litigation funding, specifically Saunders v. Houghton. “Courts in most jurisdictions have now recognised that the correctly structured funding models increases access to justice and acts to rebalance the plaintiff-defendant relationship,” Finn Brooke said.
Read the full story on LawFuel New Zealand Law News
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