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Third-party litigation funding and Private Funding of Legal Services Act

On 14 December 2020 Parliament passed the landmark Private Funding of Legal Services Act 2020. The act was published in the
Cayman Islands Gazette on 7 January 2021 but is subject to a commencement order and is therefore not yet in force.
Background
In the Cayman Islands, the doctrines of maintenance and champerty were both crimes and torts, which sometimes created obstacles for litigants seeking to enter into funding agreements with third parties to obtain financing for the litigation in return for a share of the proceeds.
Following the growing global prevalence of litigation funding (including in jurisdictions such as England and Wales and the British Virgin Islands, where maintenance and champerty have already been abolished), a flurry of applications seeking the approval of third-party funding agreements have come before the Grand Court in recent years. In recognising the growing limitations on the application of the maintenance and champerty doctrines, the Gr ....

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Private Funding Of Legal Services Act 2020 – Expansion Of Litigation Funding In The Cayman Islands - Litigation, Mediation & Arbitration

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The Private Funding of Legal Services Act, 2020 (the
Act ), which was gazetted on 7 January 2021 but is not
yet in force, seeks to bring the Cayman Islands position on
litigation funding in line with the well-established regimes in
other common law jurisdictions. The Act will open up the world of
litigation funding to litigants in the Cayman Islands by abolishing
criminal and civil liability for maintenance and champerty and
making statutory provision for entering into litigation funding
agreements without the sanction of the Court.
Litigation funding can be loosely divided into three ....

Cayman Islands , Funding Of Legal Services , Third Party Litigation Funding , Private Funding , Legal Services Act , Fee Agreements , Party Litigation Funding , Conditional Fee Agreements , Contingency Fee Agreements , Contingency Fee Agreement , Children Act , Conditional Fee Agreement , Contingency Fee , Private Funding Of Legal Services Act 2020 X2013 Expansion Litigation In The Cayman Islands , Mediation Amp Arbitration , Trials Amp Appeals Compensation , கேமன் தீவுகள் , நிதி ஆஃப் சட்டப்பூர்வமானது சேவைகள் , மூன்றாவது கட்சி வழக்கு நிதி , ப்ரைவேட் நிதி , சட்டப்பூர்வமானது சேவைகள் நாடகம் , கட்சி வழக்கு நிதி , குழந்தைகள் நாடகம் , தற்செயல் கட்டணம் , மத்தியஸ்தம் ஆம்ப் நடுவர் , சோதனைகள் ஆம்ப் முறையீடுகள் இழப்பீடு ,