imported>Doug Williamson |
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| (EU).
| | ''Law.'' |
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| An economic and political union currently consisting of 27 European member states.
| | Litigation funding is where a third party provides the financial resources to enable litigation or arbitration cases to proceed. |
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| The current members are: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden. | | The litigant obtains all or part of the financing to cover its legal costs from a private commercial litigation funder, who has no direct interest in the proceedings. |
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| ====Areas of work====
| | In return, if the case is won, the funder receives an agreed share of the proceeds of the claim. |
| The three areas which form the union are:
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| *The European Community
| | If the case is unsuccessful, the funder loses its money and nothing is owed by the litigant. |
| *Common Foreign and Security Policy
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| *Police and Judicial co-operation in Criminal Matters
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| ====EU law====
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| The legislature of the EU includes the European Parliament, the Council of the European Union and the European Commission.
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| The EU's judicial bodies include the Court of Justice of the European Union (CJEU) and the European Court of Justice (ECJ) which includes the General Court and the Court of Auditors.
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| ====Brexit====
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| The UK left the EU on 31 January 2020.
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| However, the UK continued to be subject to EU rules and remain a member of the European Single market and Customs union during the period ended 31 December 2020.
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| == See also == | | == See also == |
| * [[Article 50]] | | * [[Adverse costs award]] |
| * [[Brexit]] | | * [[After the event insurance]] |
| * [[Brexit transition period]]
| | * [[Arbitration]] |
| * [[Brussels]]
| | * [[Association of Litigation Funders]] |
| * [[BUL]]
| | * [[Funder]] |
| * [[CEBR]]
| | * [[Litigant]] |
| * [[Court of Justice of the European Union]]
| | * [[Litigation]] |
| * [[Customs union]] | |
| * [[Direct effect]] | |
| * [[Directive]]
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| * [[Economic and Financial Affairs Council]]
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| * [[EMIR]]
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| * [[EU 27]]
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| * [[euro zone]]
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| * [[European Commission]]
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| * [[European Community ]]
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| * [[European Court of Justice]]
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| * [[European Council]]
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| * [[European Economic and Monetary Union]]
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| * [[European Economic Area]]
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| * [[European Investment Bank]]
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| * [[European Parliament]]
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| * [[Member state]]
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| * [[NATO]]
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| * [[Official Journal of the European Union]]
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| * [[Payment Services Directive]] | |
| * [[Regulation]] | |
| * [[Retained EU law]] | |
| * [[Schengen Area]]
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| * [[Single Market]]
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| * [[UK]]
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| __NOTOC__
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| [[Category:Context_of_treasury]] | | [[Category:Accounting,_tax_and_regulation]] |
| | [[Category:Compliance_and_audit]] |
| | [[Category:The_business_context]] |
Law.
Litigation funding is where a third party provides the financial resources to enable litigation or arbitration cases to proceed.
The litigant obtains all or part of the financing to cover its legal costs from a private commercial litigation funder, who has no direct interest in the proceedings.
In return, if the case is won, the funder receives an agreed share of the proceeds of the claim.
If the case is unsuccessful, the funder loses its money and nothing is owed by the litigant.
See also
