fbpx
News
August 3, 2018

ILR Chair: “If Litigation Finance is Such a Good Thing, Why the Secrecy?”

In an op-ed for Bloomberg Law, U.S. Chamber Institute for Legal Reform Chairman and former general counsel of General Electric Brackett Denniston said there is “no good reason” to keep third party litigation funding (TPLF) “secret and shielded from scrutiny.”

Denniston challenged the assertion from third party funders that their work should be kept from the public eye. TPLF disclosure, he said, would equate to a defendant releasing insurance policies at the start of litigation. Doing so allows both sides of a dispute operate on equal footing, so, as the Advisory Committee on Federal Rules said in 1970, “settlement and litigation strategy are based on knowledge and not speculation.” A “uniform national rule” requiring TPLF disclosure would do the same thing, he said.

Wisconsin’s first-in-the-nation disclosure law, the Advisory Committee on Civil Rules’ consideration of a federal rule, and the Litigation Funding Transparency Act before the U.S. Senate are all signs of a “growing call for disclosure,” Denniston said.

Delaware General Assembly Blog Delaware Wants to Take a Closer Look at the TPLF Industry   Third Party Litigation Funding (TPLF) Blog European Parliament Legal Affairs Committee Adopts TPLF Legislative Initiative Report International Initiatives, Third Party Litigation Funding (TPLF) Welcome to Delaware Sign Blog Another Federal Court Now Requires Disclosure of Third Party Litigation Funding Third Party Litigation Funding (TPLF) litigation funders, beach scene Blog Sun, Sea, but no Sand(box) for Florida Lawsuit Investors Lawsuit Lending, Third Party Litigation Funding (TPLF) Blog Third Party Litigation Funding: Buying Trouble Across the Globe International Initiatives, Third Party Litigation Funding (TPLF)

Cookie Notice

By clicking “I Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

Cookie Notice

By clicking “I Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. Review Settings