Ukraine's Litigation Funding Push May Help Fight Corruption
Law360 (April 29, 2020, 5:48 PM EDT) -- According to the World Bank, public officials from developing countries are stealing between $20 and $40 billion annually, and unfortunately, politicians from Ukraine are among the leaders on this list. For decades, billions of dollars disappear from Ukraine, seeking its way through tax heavens to bank accounts, real estate markets and luxury goods in the U.K., Austria, Switzerland and other foreign jurisdictions.
Fortunately, there are ongoing efforts to combat this theft. The latest initiative is to allow third-party litigation funders to invest in civil cross-border recovery actions aiming to boost Ukrainian efforts to fight corruption. This presently untouched multibillion-dollar market of...
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