As the demand for commercial legal funding continues to grow, more and more jurisdictions are looking to embrace it as an option for those seeking access to justice. In an encouraging sign within Europe, government officials are sending positive signals that Ireland may be the latest country to open up its legal system to third-party funding.
An LFJ Conversation with Michael Kelley, Partner, Parker Poe
As the demand for commercial legal funding continues to grow, more and more jurisdictions are looking to embrace it as an option for those seeking access to justice. In an encouraging sign within Europe, government officials are sending positive signals that Ireland may be the latest country to open up its legal system to third-party funding.
Reporting from Business Post highlights recent remarks by Helen McEntee, Ireland’s Minister for Justice, indicating that the government would soon be introducing proposals to legalise this type of legal funding. McEntee raised the issue while on a visit to the US, stating that it was the government’s intention to allow third-party litigation funding for international arbitration proceedings taking place in Ireland.
Whilst this move shows that Ireland is open to a more liberal approach to third-party funding, the proposed reforms would not legalise third-party financing for litigation. However, considering the previous blanket ban on third-party funding for legal matters, European funders will no doubt take this latest move as a step in the right direction for the Irish industry.
