Funder Urges Appeals Court To Cap 'Loser Pays' Fee Award

Law360, London (February 3, 2020, 4:59 PM GMT) -- A litigation funder asked the Court of Appeal Monday to cap the legal costs it was ordered to pay after its client lost a fraud case against lender Dunbar Assets PLC and two administrators, arguing that the fees should be limited in the interests of promoting "access to justice.”

ChapelGate Credit Opportunity Master Fund Ltd. challenged High Court Judge Richard Snowden's April ruling that it must pay £3.9 million ($5 million) to cover legal costs for Dunbar and the administrators. In doing so, the judge rejected the commercial funder’s contention that its liability should be limited to £1.27 million, the amount...

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