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Litigation funders and costs (Excalibur Ventures v Texas Keystone)

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Published on: 17 March 2015

Published by a LexisNexis Dispute Resolution expert

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Article summary

Dispute Resolution analysis: the key issue of interest for funders will be the fact that permission to appeal the 2014 judgment was given; that judgment held that third-party professional litigation funders should be liable for indemnity costs awarded against the party they funded. Permission to appeal was granted on the basis that the applicable principles in relation to the funding litigation industry as a whole were of considerable public interest. Also considered were issues relating to the appropriate date for judgment rate interest to run, the correct test to apply when dealing with an application for an order for payment on account of costs, various directions hearing costs as well as the apportionment of costs between a number of funders.

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