This collection explores the practical operation of the law in the area of litigation costs and funding, and confronts the issue of how exposure to cost risks affects litigation strategy. It looks at the interaction of the relevant legal regime, regulatory framework and disciplinary rules with the behaviour of litigants, courts and legislatures, examining subjects such as cost rules and funding arrangements. The book discusses a wide range of topics such as cost-shifting rules, funding and mass tort litigation, cost rules and third-party funding (TPF) rules in specific areas such as intellectual property (IP) litigation, commercial arbitration, investment arbitration, the role of legal expense insurance arrangements, fee regulation and professional ethics. The contributors include renowned scholars, experts in their respective fields and well-versed individuals in both civil procedure and the practice of litigation, arbitration and finance. Together, they present a broad approach to the issues of costs, cost-shifting rules and third-party funding. This volume adds to the existent literature in combining topics in law and practice and presents an analysis of the most recent developments in this fast developing area.
'This volume represents a major contribution to the emerging literature on litigation costs. It should be of value to academic lawyers, economists and others, as well as those interested in, or responsible for, policy formulation on the funding and management of litigation.'
Paul Fenn, Emeritus Professor, Nottingham University Business School
'This book contains a wealth of information about litigation costs in different jurisdictions. It explores economic dimensions, as well as legal aspects, and discusses various ways of funding collective actions including third party funding.’
Adrian Zuckerman, Emeritus Professor of Civil Procedure, Oxford University, UK
‘Modern commercial litigation is marked by a growing number of lawsuits in which considerable amounts of money are claimed. Strategies not only look at the performance and quality of the available court systems but also focus on the possibilities of financing large-scale litigation by third-party funders or by contingency fees, the possibilities of getting their own costs reimbursed and the risk of paying the costs and fees of the other party. This volume takes up these developments and provides for thoughtful insights into an area of procedural and commercial law which has been neglected for a long time. It is highly recommended to all stakeholders in legal practice and science who are involved and interested in these fascinating developments.’
Burkhard Hess, Director, Max Planck Institute, Luxembourg
Notes on Contributors
List of Abbreviations
[Willem H. Van Boom]
2. Litigation costs and third party funding
[Willem H. Van Boom]
3. TPF and Its Alternatives: an Economic Appraisal
[Jef De Mot, Michael Faure and Louis Visscher]
4. ‘Playing the man not the ball’
5. Legal Costs Awards and Access to Justice in Dutch Intellectual Property Cases: How the IPR Enforcement Directive impacts on litigation and settlement behaviour in IP disputes
6. ‘Mercantile Adventurers’? The Disclosure of Third-Party Funding in Investment Treaty Arbitration
[Eric De Brabandere]
7. Experimenting with conditional fees in the Netherlands
[Ben van Velthoven and Peter van Wijck]
8. Financial Arrangements with Litigation Funders and Law Firms in Australian Class Actions
[Vicki Waye and Vince Morabito]
9. Funding of mass claims in Germany – caught between a rock and a hard place?
10. Entrepreneurial motives in Dutch collective redress: Adding fuel to a ‘compensation culture’?