High value Russo-Ukrainian war and Covid insurance cases mark an otherwise subdued first half of 2023
High Court litigation in the first half of 2023 (H1), while down on both halves of 2022, has seen some very high value disputes, as the impact of the Russo-Ukrainian war and ongoing Covid-related business interruption claims flowed through the courts.
UK High Court Witnesses Ongoing Impact of Russo-Ukrainian War
The ongoing Russo-Ukrainian War has had a significant impact on the UK High Court. In the first quarter of 2023, there has been a surge in insurance claims related to aircraft seized in Russia. Additionally, there has been a continued increase in winding up petitions and a noticeable rise in the number of group action claims being filed.
UK litigation continues to grow whilst the economy stumbles
Claim volume for Q3 2022 totalled just over 1,900, a 10% increase on the same period in 2021. As a whole, quarterly claim volume has grown substantially since the first quarter of 2019.
Covid and Ukraine sanctions feature in new litigation claims
Approximately 2,300 disputes have been brought to the Queen’s Bench and Chancery divisions in the first half of 2022. This is a decline of almost 17% compared with the first 6 months of 2021.
Claim volumes hold steady despite market uncertainty
Solomonic data shows relatively consistent ligation activity when compared to the last two years, despite continued global instability. Analysis explores new claims issued and activity levels across the topmost active sectors.
No slowdown in new claims issued
Thousands of law firms have serviced the litigation market in the last 5 years - top 15 most active firms consistently hold 20% of new claims issued market share YOY, including RPC, Clyde & Co and Clifford Chance.