ARCHIVES
VOL. 3, ISSUE 2 (2021)
The emergence and evolution of third party funding around the world: A transnational perspective
Authors
Ankit Sharma, Vinay Kumar
Abstract
Historically, as per the “antique laws”, the doctrine of maintenance and Champerty barred a disinterested party from financing the litigation or execution of any agreement between the plaintiff and a party to finance the suit in return of a share of the recovery. Although, the doctrine is dual-headed involving both maintenance (funding another's lawsuit) and Champerty (funding another's lawsuit in exchange for a share of the proceeds), the modern legislations and precedents have amalgamated it and now coined it under the common Champerty rubric. While its origins were in feudal France, the doctrine was developed in England under the common law system and later spread to other common law countries like Australia and USA. It was considered professionally unethical for a party to get into an agreement with a lawyer or solicitor with a contingency fee arrangement or for a lawyer to financially assist his clients. However, the modern laws have taken a different view, as the concept is rapidly evolving and has now become a global phenomenon. This paper attempts to discuss the origin or emergence of the concept of financing the litigation and dispute resolution cases and how third party funding turned into a global phenomenon from being a single-country practice. Lastly, the authors will elucidate the trends and challenges of the funding concept vis-à-vis the present outlook of the countries around the world.
Download
Pages:23-28
How to cite this article:
Ankit Sharma, Vinay Kumar "The emergence and evolution of third party funding around the world: A transnational perspective ". International Journal of Law, Policy and Social Review, Vol 3, Issue 2, 2021, Pages 23-28
Download Author Certificate
Please enter the email address corresponding to this article submission to download your certificate.