Claims Funding Europe Ltd (CFE) is a litigation funding company based in Dublin, Republic of Ireland, whose purpose is to provide people and companies with real access to justice. We fund multi-party cases in appropriate jurisdictions in Europe and other parts of the world.
CFE is owned by Australia’s premier class action law firm Maurice Blackburn Lawyers (www.mauriceblackburn.com.au) and International Litigation Funding Partners Pte. Ltd (ILFP). Maurice Blackburn lawyers have conducted each of the 5 largest class action cases in Australian legal history and obtained more than $2 billion on behalf of the victims of corporate misconduct.
CFE is currently funding and supervising the largest pan-European anti-cartel litigation ever commenced in Europe against major international airlines through the courts of the Netherlands. CFE 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. CFE is also presently funding other securities actions in Germany, Italy and Japan.
Litigation funding is all about access to justice. It 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 risks associated with litigation. By agreeing to assume the risk and paying all the costs, CFE 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 in ridding 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.