Crain’s NY Highlights ILR’s Efforts to Rein in Lawsuit Lenders
“Is this a course we want to take in the U.S. for our civil justice system? Do we want it to become a profit-making entity for private hedge funds?”
Those questions were asked by ILR President Lisa A. Rickard in Crain’s New York story about the growing lawsuit lending industry. While the story notes the profitable returns being reaped by lawsuit lending companies, Rickard notes that the practice “really does change the way a defendant might handle or address a case.”
Crain’s highlights ILR’s push for increased regulation and standards of the industry, including “notifying a judge and defendants that there is a third-party funder on the other side.”
For more information on the lawsuit lending industry, visit LawsuitLendingTruth.com.
