The 2023 UK Supreme Court decision, known as the 'PACCAR ruling,' has continued to generate significant uncertainty within the litigation funding market in England and Wales. This ruling controversially impacted the enforceability of litigation funding agreements (LFAs), particularly those structured as Damages-Based Agreements (DBAs).
The legal precedent set by the ruling has led to a reduction in available funding for claimants, thereby affecting access to justice. The Civil Justice Council (CJC) is actively reviewing the current funding framework to address these challenges and provide clarity.
While the ruling is a legal precedent named after PACCAR Inc, its direct financial impact on PACCAR's core truck manufacturing and financial services businesses is not detailed. However, it remains a notable event in the legal and financial sectors where the company's name is central to a significant development.
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