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Archive | Litigation Funding

Finding Violation of New York’s Champerty Laws, Federal Court Dismisses Fair Debt Collection Practices Act Lawsuit

July 19, 2017  |   Posted by :   |   Litigation Funding   |   Comments Off on Finding Violation of New York’s Champerty Laws, Federal Court Dismisses Fair Debt Collection Practices Act Lawsuit

Agreements among a credit repair organization, a law firm, and a New York woman were unenforceable or otherwise ran afoul of the law, a federal court ruled this week.  The reasons?  The credit repair organizations agreement with the woman violated a federal statute, and an agreement with the law firm violated New York’s champerty laws and […]

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New York Times: ‘High-Risk’ Viaticals May Have Contributed to Debt Problems for Virgin Islands

June 26, 2017  |   Posted by :   |   Litigation Funding   |   Comments Off on New York Times: ‘High-Risk’ Viaticals May Have Contributed to Debt Problems for Virgin Islands

The pension system for the Virgin Islands has been “chasing high returns by investing in high-risk assets, like a $50 million placement in life viaticals — an insurance play that is, in effect, a bet that a selected group of elderly people will die soon.” That is a line from an article with the headline After Puerto […]

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Litigation Funding Rule Change May Take A While

June 16, 2017  |   Posted by :   |   Litigation Funding   |   Comments Off on Litigation Funding Rule Change May Take A While

Don’t hold your breath. That’s one way to summarize the National Law Journal’s summary of the U.S. Chamber of Commerce’s long-term plan to try to rein-in litigation funding via a change to the Federal Rules of Civil Procedure. The piece, entitled Lit Funding Opponents Play Long Game in Bid for Transparency, points out that the […]

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A Primer on Champerty and Lawsuit Funding – and Impact on Insurers – Is Part of Report On U.S. Chamber’s Support for Federal Rule Change

June 15, 2017  |   Posted by :   |   Litigation Funding   |   Comments Off on A Primer on Champerty and Lawsuit Funding – and Impact on Insurers – Is Part of Report On U.S. Chamber’s Support for Federal Rule Change

What’s champerty?  How does it relate to litigation funding? And why should it matter to the insurance industry? These are a few questions addressed this month in a short but pithy piece in the National Law Review, “U.S. Chamber Seeks New Federal Rule Requiring Disclosure Of Third-Party Litigation Funding Arrangements” (available here). As for the […]

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Forbes Reports That Litigation Finance Company Faces Lawsuit By Former Customers Over Allegations of Too-High Interest Rates

May 24, 2017  |   Posted by :   |   Litigation Funding   |   Comments Off on Forbes Reports That Litigation Finance Company Faces Lawsuit By Former Customers Over Allegations of Too-High Interest Rates

  Forbes this month reports that a litigation finance company has been sued by former customers, who have alleged that the company charged usurious interest rates.  Says reported John O’Brien in the May 9 article, Customers Sue Legal Finance Company, Allege Interest Rates Over 100%: Six individuals who did business with Oasis [Legal Finance] are suing […]

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Commentary: Litigation Funding Arrangements May Open Doors for Defense Teams to Use Targeted ‘Strategic Discovery’ in Litigation

May 04, 2017  |   Posted by :   |   Litigation Funding   |   Comments Off on Commentary: Litigation Funding Arrangements May Open Doors for Defense Teams to Use Targeted ‘Strategic Discovery’ in Litigation

In an employment law blog post, a labor litigator says that litigation funding may create opportunities for employer-defendants to use “strategic discovery” in the litigation strategies.  Among the suggestions: A defendant “may request that the Case Management Order require the plaintiff to disclose any third-party litigation funding” as per Federal Rule of Civil Procedure 26(f)(3)(F). If […]

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Minnesota Court of Appeals Says State’s Strong Policy Against Champerty Means Litigation Funder Can’t Enforce Forum Selection Clause or Compel Parallel Lawsuit to Proceed in New York

April 20, 2017  |   Posted by :   |   Litigation Funding   |   Comments Off on Minnesota Court of Appeals Says State’s Strong Policy Against Champerty Means Litigation Funder Can’t Enforce Forum Selection Clause or Compel Parallel Lawsuit to Proceed in New York

The principles at stake in Maslowski v. Prospect Funding, 890 N.W.2d 756, 2017 Minn. App. LEXIS 26 (Minn. App. Ct. Feb. 13, 2017), can be summed up as follows: A trial court does not abuse its discretion to refuse to enforce a contractual forum-selection clause where the court’s refusal was based on protecting Minnesota’s local […]

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Texas Publication Criticizes Litigation Funding’s ‘Incalculable’ Cost to Society: ‘It Used To Be A Crime. Now We Celebrate It?’

April 10, 2017  |   Posted by :   |   Litigation Funding   |   Comments Off on Texas Publication Criticizes Litigation Funding’s ‘Incalculable’ Cost to Society: ‘It Used To Be A Crime. Now We Celebrate It?’

The headline sums it up: ‘It Used To Be A Crime.  Now We Celebrate It?”  That’s from the Southeast Texas Record, lamenting the arrival of a litigation funding company, and the erosion of proscriptions against champtery, in an opinion piece that is available in full here.  The writer says that, “[t]he hope of discouraging frivolous lawsuits, […]

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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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