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March 27, 2019

ILR Chairman “Re-Upped” Call For TPLF Transparency

U.S. Chamber Institute for Legal Reform Chairman Brackett Denniston “re-upped” the call for third party litigation funding transparency by sending a letter to a committee of the Administrative Office of the U.S. Courts, The Recorder reports.

The Committee on Rules of Practice and Procedure is considering rules changes that could require disclosure of third party litigation funding arrangements, which Denniston said “has long existed in darkness.” He wrote that it is “time for [the funding industry] to emerge into the light” because the “undisclosed interest of outside financiers in a lawsuit raises…ethical and practical issues that are important to a case.”

In a blog post, ILR President Lisa A. Rickard said transparency is necessary to ensure that funders do not “undermine plaintiffs’ control of a case, unnecessarily prolong litigation, and fuel more questionable lawsuits.”

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