November 05, 2007

Long regarded as more conservative than the U.S. on matters of litigation ethics, Great Britain may soon bid to out-Americanize the Americans:

[German-based international insurer Allianz] is launching a new business dedicated to investing in British legal disputes.

The insurer is the first mainstream institution to join the UK’s fledgling market for third-party litigation, where investors offer to pay legal fees upfront, in return for a share of the winnings.

More here and, from a Times writer who can't imagine any dangers arising from the practice, here.