Britain’s largetd companies were involved in more than twice the amount of High Court litigation in the last 12 months compared to five years ago, research has revealed.
There were 279 cases involving FTSE 100 businesses over the most recent period compared with 114 for the comparable time five years ago.
Researchers attributed the rise to the growing complexity of cross-border business and the increasing use of third-party litigation funding, which finances cases that in some instances litigants would otherwise not been able to afford. Funding is also viewed as a method of removing litigation costs from the balance sheets of defendant corporations.
Banks were in the front line of litigation, the research team from Thomson Reuters told the Financial Times. High Court law suits involving FTSE 100 banks rose by 14 per cent in the last 12 months.