31 Aug 2012
CONTRACTORS BONDING LTD V GODFREY WATERHOUSE COA CA200/2011
- Citation
- COA CA200/2011
- Court
- Court of Appeal
Court of Appeal held that third-party litigation funding is not per se unlawful but courts should require early disclosure to the non-funded party of key features of funding agreements (identity and location of funder, financial standing/viability, amenability to New Zealand jurisdiction where relevant, and terms for withdrawal) and may stay proceedings pending such disclosure; further judicial oversight is case-specific and aimed at preventing abuse of process while protecting access to justice; in this case a redacted funding agreement must be disclosed within 10 working days and the High C…