Articles

Carolina Bayo writes for the newspaper Expansión about the new ICC regulation

The economic newspaper Expansión publishes our Senior Director’s opinion on the new ICC Regulation that just entered into force. Carolina Bayo explains that one of the most significant changes in the new Regulation with respect to its 2017 version, which will continue to apply to cases filed before January 1, 2021, is that it includes an expected specific provision on funders and a necessary obligation for the parties: to inform about the existence of third-party funding. The obligation does not specify that the terms of the funding agreement must be disclosed. In Carolina’s opinion, the solution established by the ICC…

New Records for ICC Dispute Resolution

The latest statistics published by the ICC (International Chamber of Commerce) reveal that arbitration is an increasingly popular mechanism for dispute resolution, and the Spanish element continues to increase. In fact, Spain ranked seventh in the most frequent nationalities among parties, with 87 parties representing 3.48% of the total number in all 2019 ICC filings, and Spanish law was the seventh most selected applicable substantive law of all cases registered before the ICC in 2019. Choice-of-law clauses were included in the substantive contractual provisions relied upon by parties in 88% of all cases registered in 2019. These covered the laws…

Collective redress is now a reality in the EU; does it affect Legal Finance?

Collective redress or collective litigation is a legal proceeding where multiple claimants with similar o related claims group together to pursue legal actions against the same defendant or defendants. This common figure known as the “class action” under US Law was not an option under certain EU jurisdictions, until just recently. A new Directive —approved by the European Parliament on November 24—, allowing Collective redress in the European Union is going to change the litigation landscape. The new legislation lays a foundation for representative action in all member states, guaranteeing better protection to consumers against domestic and cross-border “mass harm”,…

Litigation Finance: Legal Framework in Spain (I)

Spain is an attractive market for litigation funders, and proof of this is the growth in competition of the last five years. In fact, an increasing number of funds seek to increase their presence in Spain through satellite offices. Notwithstanding the foregoing, the market is at a point of saturation, fact that does not come as a surprise. Spain is a very advantageous country for litigation funding because it offers a friendly regulatory framework. Spain is not restricted by the medieval figures of maintenance and champerty, typical figures of common law jurisdictions, and offers a lot of flexibility. Furthermore, art.…

Litigation Finance: Benefits for Companies

Every economic downturn is followed by an increase in litigation, and Covid19 is no exception. This crisis is generating many contractual breaches, force majeure disputes, disputes with suppliers, Employment Regulation Plans… But many companies face a tough choice: to invest their capital in legal services or even in a meritorious judicial or arbitral proceeding, or to reinvest those resources in the business to deal with these hard times. Litigation finance puts an end to this problem. Litigation funding or “third party funding” is a legal tool that allows an external party to a judicial or arbitral procedure to pay its…

“Spain offers a favorable regulation for Third Party Litigation Funders”

LawyerPress interviews our Senior Director, Carolina Bayo, to talk about Legal Finance in Spain. During the interview, Carolina explains why Spain is an attractive country for Litigation Funders, how Legal Finance is regulated, and how Stonward operates and works. “Spain is an attractive market for litigation funders for two reasons: a friendly regulatory framework and a country with very interesting legal assets,” explains Carolina. She also highlighted the importance of banishing some myths regarding this practice, such as the idea that “Legal Finance is an option only for insolvent claimants. Many times, a company is solvent and chooses not to…

Article: Litigation Funding is not financial speculation

[et_pb_section fb_built=”1″ _builder_version=”4.5.6″ _module_preset=”default”][et_pb_row _builder_version=”4.5.6″ _module_preset=”default”][et_pb_column _builder_version=”4.5.6″ _module_preset=”default” type=”4_4″][et_pb_text _builder_version=”4.5.6″ _module_preset=”default” hover_enabled=”0″]One of the most common errors associated with litigation finance is the belief that it is an instrument of financial speculation that can affect the rights of the claimant and the work of the lawyer. Nothing is further from reality.  Read our Senior Director’s article, published by Expansión, to learn more about it. [/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”4.5.6″ _module_preset=”default”][et_pb_column _builder_version=”4.5.6″ _module_preset=”default” type=”4_4″][et_pb_button button_text=”Read” _builder_version=”4.5.6″ _module_preset=”default” button_url=”https://www.expansion.com/juridico/opinion/2020/10/14/5f85e9f7468aeb0c5b8b4581.html” button_alignment=”left” custom_button=”on” button_text_size=”14px” button_text_color=”#000000″ button_border_color=”#e1ddda” hover_enabled=”0″][/et_pb_button][/et_pb_column][/et_pb_row][/et_pb_section]

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