Claims Funding Europe Ltd. is a litigation funding company based in Dublin, Ireland. We provide real access to justice for individuals and companies by funding multi-party cases in appropriate jurisdictions in Europe and other parts of the world. Our mandate is to identify, fund, manage and resolve multi-party litigation (i.e. where significant numbers of potential claimants are involved) on behalf of victims of corporate misconduct, mainly cartel and securities actions.
Claims Funding Europe is currently funding and supervising the largest ever anti-cartel litigation commenced in Europe against major international airlines through the courts of the Netherlands. The company is also co-funding the first German multi-billion Euro lawsuit against Volkswagen AG on behalf of investors who suffered losses after it was revealed that Volkswagen had fitted ‘defeat devices’ to its cars. In addition, Claims Funding Europe is also funding other securities actions in Germany, Italy and Japan.
Following the European Commission’s recent decision to impose record fines of almost €3 billion on European truck manufacturers for participating in a long running cartel, Claims Funding Europe and leading Dutch law firm, BarentsKrans confirmed that they will file proceedings in the Netherlands on behalf of the victims of the truck cartel from all over Europe.
Claims Funding Europe is owned by Australia’s premier class action law firm, Maurice Blackburn Lawyers and International Litigation Funding Partners Pte. Ltd. Maurice Blackburn Lawyers employs 1200 staff and has conducted each of the five largest class action cases in Australian legal history, obtaining more than $2 billion on behalf of the victims of corporate misconduct.
Many individuals and companies with legitimate legal claims do not pursue them because of the high cost and risks associated with litigation. Litigation funding enables the victims of corporate misconduct to seek reparation without the risks, costs and inconvenience of managing the litigation themselves.
Access to Justice
Many individuals and companies with legitimate legal claims do not pursue them because of the high cost and other risks associated with litigation. By agreeing to assume the risk and paying all the costs, Claims Funding Europe is providing access to justice for parties with genuine claims.
We carefully scrutinise the many cases that are brought to us and we only underwrite a very small percentage of them. Our thorough due diligence ensures that only cases that have substantial merit and good prospects of success are selected. This helps to rid the courts of dubious claims, thereby saving court time and resources.
By underwriting actions on behalf of the victims of corporate misconduct, we help raise standards of corporate behaviour. The level of cartel activity in Europe in recent years is scandalous, in spite of record fines being imposed by the European Commission and national regulatory bodies. It seems that fines on their own are insufficient to deter cartel behaviour. However, if cartelists are required to pay money back to their victims, it is likely the standards of corporate behaviour will improve.
Changes to Law
We regularly make submissions to relevant bodies such as the European Commission and the UK Civil Justice Council to facilitate access to justice for potential litigants who cannot get access on their own. We seek to ensure that the very positive role that litigation funders play in society is recognised and encouraged. We support law changes which reduce the incidence of corporate misconduct.