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Harneys breaks new ground: third party litigation funding in the Cayman Islands

22 December 2017

Harneys is pleased to announce that it has forged a new path in Cayman Islands law, acting for the applicant in obtaining the Grand Court’s approval of a third party litigation funding agreement.
 
The Grand Court’s ruling in A Company v A Funder (unreported) is significant for the Cayman Islands as a jurisdiction because it opens the door to third party litigation funding, bringing it into line with other leading international financial centres and also recognising the global trend that third party funding is sought not only by impecunious claimants but also by well-resourced ones who are looking to manage the costs and risks associated with litigation.
 
Harneys is proud to have acted for the applicant in this matter and to have been at the forefront of such a significant legal development. You can read more about it on our Litigation Blog.
 
The Harneys team comprised Partners James Noble and Nick Hoffman, and Associate Lachlan Greig