The two partners of a firm whose purpose is to serve the non-legal business interests of one of them have been fined for multiple rule breaches, including using client account as a banking facility.
A ruling that parties must engage in ADR before their argument over costs can be heard is a landmark that could herald the start of a new era, according to costs lawyers.
There should only be a move to regulate third-party litigation funding in the event of “an identifiable problem or market failure”, a major report has concluded.