Our CEO attends the second roundtable on Third Party Funding organised by Accuracy Madrid to discuss the state of the industry

Third Party Funding- PLA Spain

On Tuesday 21st November 2023, our CEO, Jesús Rodrigo Lavilla, participated in the second roundtable on Third Party Funding organized by Accuracy Madrid.

The round table, which was attended by the main national and international litigation funds, discussed the current state of the industry.

What were the conclusions presented by our CEO?

The main conclusions drawn by our CEO were as follows:

1. Litigation funds are in a position of dialogue to discuss whether or not specific regulation is necessary.

2. There are different niches in the litigation finance industry and each niche has different needs.

3. While it is entirely logical that there should be specific regulation of representative actions for the protection of the collective interests of consumers, in the area of complex litigation, where counterparties are sophisticated, self-regulation should take precedence. To this end, the codes of conduct of litigation funders associations are working perfectly well.

4. It is very positive that, in view of the European Parliament´s Proposal for a Directive, which is based on initiatives that are biased towards groups and collectives harmed by the increased access to justice for people without resources provided by litigation funds, the European Commission has decided to carry out a mapping exercise to ascertain the real situation of the industry.

5. The evolution of the litigation funding industry in 2023 has been favourable and a similar trend is expected for 2024. Especially in view of the macroeconomic situation in the Eurozone and, in particular, the Iberian market. We would like to thank Accuracy Madrid for having counted once again with PLA Litigation Funding in its roundtable on Third Party Funding.

There were many topics of interest that we hope to continue discussing in the future.

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