Sweden
Answer ... There is no specific definition of ‘commercial legal finance’ or ‘third-party funding’ under Swedish law. It is generally understood as an agreement whereby a third party pays attorneys’ fees and other costs relating to legal proceedings in exchange for remuneration which is payable only in case of a favourable outcome.
Sweden
Answer ... Consumer litigation finance by established professional funders is basically available only for bundled group claims on the Swedish market. Under Swedish law, a funder may acquire and bundle consumer claims to pursue them in its own name, which requires that the funder enters into agreements with consumers on an individual basis. The current group actions statute (opt-in regime) does not set out any explicit mechanism under which a third-party can provide financing in return for a part of the recovery. However, in a 2022 governmental report, it was proposed that the EU Directive on Representative Actions for the Protection of the Collective Interests of Consumers should be implemented in Sweden partly through a new statute which should include such a mechanism.
Under the rules of the Swedish Bar Association, contingency fees are generally not allowed, except in extraordinary circumstances. Even if such circumstances may involve representing collective interests in a group action, Swedish lawyers are reluctant to work on a contingency fee basis and group actions have historically been very rare.
Sweden
Answer ... Single case fees and expenses.
Sweden
Answer ... Litigation finance is rather new in Sweden and statistics on the most common areas of funded cases are not available. However, Swedish funders usually contemplate investments in any and all areas of law.
Sweden
Answer ... Pure players. Funders with local presence include Kapatens, Therium and Litigium.