During a House of Lords debate on the Litigation Funding Agreements (Enforceability) Bill on 15 April 2024, members of the House commended ELI for its significant regulatory initiatives on third-party litigation funding.

Lord Thomas, an Assessor of the project, said that ‘There is a huge amount of learning, and I think you will find that the work done by the European Law Institute in its report will be of great assistance.’ Lord Meston recognised the value of ELI’s principles in guiding the review of litigation funding regulation, while Lord Ponsonby acknowledges ELI’s global relevance. That proper attention should be paid to ELI's forthcoming report, which aims to establish principles for third-party litigation funding that strike a balance between various interests and ensure a healthy litigation market, was urged by Lord Sandhurst.

The ELI project team seek to develop principles containing safeguards to provide an environment in which third-party litigation funding is allowed but balances the availability of the tool with the interests of claimants and defendants and a healthy litigation market.

More information on the above discussion and on the project are available here and here respectively.