The UK government has proposed changes to the Digital Markets, Competition and Consumers Bill to allow litigation funding agreements in competition cases. This move follows the Supreme Court’s decision in July, which deemed damages-based agreements by litigation funders in competition cases unenforceable. The ruling was made in response to a £2 billion collective action on price fixing.
Although the government’s action is in early stages, if successful, it could impact the international litigation funding arena by setting new precedents for how competition cases are financed. As global businesses continue to monitor the UK’s handling of this issue closely, it is clear that any legal decisions made here could have far-reaching impacts.
For a more comprehensive understanding of this ongoing legal development, the original article provides detailed insight into the matter, although it is behind a paywall.