Third Party Funding of Mass Litigation and its Influence on the Conduct of Mass Litigation
Promovendus: Mw. I. Tillema
Promotores: Prof.Mr. W.H. van Boom, A. Stadler
Duur: 1/7/2012 - 30/6/2016
Financing of collective redress either in domestic or in cross-border cases is a key issue. Mass litigation is expensive and sometimes risky. Traditional concepts of financing are often not suitable for mass litigation. Therefore, litigants are breaking new ground by different ways of third party funding. This PhD research holds an investigation into the practices of third party funding of mass litigation. The study aims to achieve a mapping and a comparative assessment of current third party financing practices in mass litigation in the US and selected Member States of the EU (UK, Germany, the Netherlands). Third party funding often adds another key actor to the litigation who is pursuing his own economic interest. With third party interests being involved in the conduct and in the outcome of the litigation, one might assume that this will have some influence on the plaintiffs litigation strategy and might be in conflict with the interest of the plaintiff and the absent group members. This study will investigate the problem from different angles of approach: with regard to facts and data on third party funding, with the legal framework of third party funding, and the economic and strategic implications on the conduct of the lawsuit. Last but not least, an overall appraisal of the situation will also include taking a closer look at the implications on ethical standards of lawyers.