High Court requires security for costs to be given by funder in excess of Arkin cap

The High Court (Mr Justice Foskett) has today given judgment in Bailey & others v GlaxoSmithKline UK Limited (the ‘Seroxat Group Litigation’) in favour of GSK upon its application for an order that the Claimants’ litigation funder give security for costs for a sum in excess of the total funding it had committed to the case.  This is the first case in which security for costs has been ordered against a litigation funder for a sum above the cap applied to the adverse costs liability of professional funders in Arkin v Borchard Lines (Nos 2 and 3) [2005] 1 WLR 3055.

A short article on this important case can be found here.

Charles Gibson QC, Malcolm Sheehan QC and Henry Warwick of Henderson Chambers acted for GSK, together with Nicholas Bacon QC, instructed by Addleshaw Goddard LLP.