Background to the Appeal R v Competition Appeal Tribunal and others [2023] UKSC 28 considers the statutory interpretation of a damages-based agreement and whether litigation funding agreements are.
The English Supreme Court has confirmed in Paccar Inc v Road Haulage Association Ltd [2023] UKSC 28 that litigation funding arrangements based on a share of recovery are damages-based arrangements .
The Supreme Court has ruled that an agreement by a third party to fund litigation in exchange for a percentage of damages recovered in the event of success constitutes a “damages-based agreement” for the purposes of statute. The issue arose in the context of applications to bring collect
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Costs matter - in collective proceedings, where costs can be staggeringly high at the certification stage alone, costs allocation can be an important factor influencing parties’.