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Archive | Litigation Funding

Champerty Still Valid Defense in Kentucky, So Litigation Funding Agreements Are Void, Says Court

March 31, 2017  |   Posted by :   |   Litigation Funding   |   Comments Off on Champerty Still Valid Defense in Kentucky, So Litigation Funding Agreements Are Void, Says Court

A series of litigation funding agreements were champertous and therefore void under Kentucky law, a federal court has ruled. In Boling v. Prospect Funding Holdings, Civil Action No. 1:14-CV-0008-1-00081-GNS-HBB, 2017 U.S. Dist. LEXIS 48098 (W.D. Ky. Mar. 30, 2017), the federal district court reviewed the claims of an individual who had entered into a series […]

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Comments in Law Journal Article Make Connection Between Rule Against Private Investment in Law Firms, Need for Litigation Funders to ‘Tread Carefully’

March 27, 2017  |   Posted by :   |   Litigation Funding   |   Comments Off on Comments in Law Journal Article Make Connection Between Rule Against Private Investment in Law Firms, Need for Litigation Funders to ‘Tread Carefully’

The New York Law Journal has reported that a federal appeals court this month “rejected an attempt to loosen restrictions on private investment in the legal industry, dismissing arguments that ethics rules on so-called fee splitting’ impinge on lawyers’ First Amendment rights.” In the article, headlined Second Circuit Upholds Ban on Private Investment in Law Firms, […]

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National Law Journal Reports on Why Litigation Funding Business Chose Not to Oppose Legislation Requiring Disclosure in Class Actions

March 18, 2017  |   Posted by :   |   Litigation Funding   |   Comments Off on National Law Journal Reports on Why Litigation Funding Business Chose Not to Oppose Legislation Requiring Disclosure in Class Actions

A bill approved this week by the House of Representatives would require class action attorneys to disclose to federal courts the fact that a third-party litigation funding company is providing monies for the lawsuit. It’s a bill that has not drawn much, if any, opposition from the litigation funding industry, which has opposed other disclosure […]

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Report: Litigation Funding Is One Reason for Increasing Costs of Australian Insurance Claims

February 27, 2017  |   Posted by :   |   Litigation Funding   |   Comments Off on Report: Litigation Funding Is One Reason for Increasing Costs of Australian Insurance Claims

A.M. Best last week posted an interview with Laura Coppola, North American head of management liability for Allianz Global Corporate & Specialty.  In the interview available on A.M Best’s “BestTV” (available here), she said that one reason for increased commercial claims in Australia is the backing of litigation funding companies.  Said Coppola: “One of the culprits that we’ve seen […]

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Legislation Would Require Disclosure of Litigation Funders in Class Action Matters

February 25, 2017  |   Posted by :   |   Litigation Funding   |   Comments Off on Legislation Would Require Disclosure of Litigation Funders in Class Action Matters

Earlier this month, a bill entitled the Fairness in Class Action Litigation Act of 2017 (H.R. 985) was introduced in Congress.  The bill is aimed at reforming federal class actions in many ways.  One of those ways would require that class counsel disclose third-party litigation funding. The [Fairness in Class Action Litigation] Act would require class counsel to promptly […]

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Federal Court Decides That Litigation Funders Can ‘Stay In The Shadows’

January 29, 2017  |   Posted by :   |   Litigation Funding   |   Comments Off on Federal Court Decides That Litigation Funders Can ‘Stay In The Shadows’

Litigation funding companies “can continue their work almost entirely in secret” in the United States District Court for the Northern District of California, which this week “rejected a proposed rule change that would have required attorneys to disclose when their cases receive backing from third parties,” the San Francisco Chronicle reported yesterday. The court had considered […]

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Litigation Funding Arrangement Gave Company Too Much Control, Violated North Carolina’s Public Policy Against Champerty, Says Court

January 26, 2017  |   Posted by :   |   Litigation Funding   |   Comments Off on Litigation Funding Arrangement Gave Company Too Much Control, Violated North Carolina’s Public Policy Against Champerty, Says Court

A federal court judge last week refused to approve a litigation financing arrangement because it was champertous. The court in In Re DesignLine Corp., Case No. 13-31943/Case No. 13-91944, 2017 Bankr. LEXIS 182 (Bankr. W.D.N.C. Jan. 20, 2017), said that a bankruptcy trustee’s arrangement with a litigation funding company violated North Carolina’s public policy against […]

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News Report: Litigation Funders’ Lawsuit Says New York AG’s Attempt to Recoup Fees Paid by 9/11 Victims Would Hurt Business

January 06, 2017  |   Posted by :   |   Litigation Funding   |   Comments Off on News Report: Litigation Funders’ Lawsuit Says New York AG’s Attempt to Recoup Fees Paid by 9/11 Victims Would Hurt Business

The New York Post this week reported that a litigation funding company has filed a lawsuit against New York’s Attorney General over his “attempt to recoup $1.6 million in ‘excessive’ fees paid by 9/11 victims for cash advances on government payments.” The report (9/11 Fee Lawsuit) also says that RD Legal Funding Partners’ lawsuit against New […]

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Wall Street Journal Describes Litigation Funding Situation Involving Investor Lawsuit Against Fund

December 09, 2016  |   Posted by :   |   Litigation Funding   |   Comments Off on Wall Street Journal Describes Litigation Funding Situation Involving Investor Lawsuit Against Fund

The Wall Street Journal this week, reporting on an lawsuit against a private equity fund that is being financed in part by a major investor in the fund, described some of the issues relating to litigation funding schemes. A major Dutch investor lost $60 million when a Carlyle Group LP fund collapsed in March 2008. […]

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Ruling from Court in United Kingdom Expands Liability for Litigation Funders

November 21, 2016  |   Posted by :   |   Litigation Funding   |   Comments Off on Ruling from Court in United Kingdom Expands Liability for Litigation Funders

American Lawyer last week reports that “a rare court ruling on the liability of litigation funders” from the English Court of Appeal “increases the exposure of funders in U.K. cases that don’t succeed.” The report added that “While the ruling will not affect litigation funding arrangements for U.S. cases, it does reveal details of the underlying funding agreements, […]

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