Class and collective actions and litigation funding
The availability and sophistication of class and collective action procedures have been increasing across the world over the last five years.
New collective redress regimes have been introduced in France, Belgium, the UK and the EU, among other jurisdictions. We expect this trend to drive more of what are known as 'collective actions' in Europe and 'class actions' in the United States.
The nature of the regimes vary. For example, some impose restrictions on who can bring actions; in other jurisdictions collective redress is only available for certain types of claim or in certain sectors.
As importantly, we are seeing the development of an active claimant bar. Their approach is being assisted by a material increase in the range and sophistication of litigation funding options in Europe.
Interestingly, some regimes are proposing standalone collective settlement procedures, which could be extremely useful when formulating defence strategies.
We have produced the fourth in our series of guides on this area, building on our analysis of legal developments across 12 jurisdictions and a survey of companies, conducted this summer, in seven of these countries, to hear their experiences and assessments of the risks they face.