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June 5, 2019

ILR: NYC Bar Shouldn’t “Immunize” Unethical TPLF Deals

The U.S. Chamber Institute for Legal Reform (ILR) urged the New York City Bar Association not to “immunize” third party litigation funding as it explores whether or not the practice violates the organization’s ethical guidelines on fee splitting.

Last year, the bar released an opinion saying that portfolio-style litigation funding deals violated its ban on lawyers splitting fees with non-lawyers. Since then, it has called for public input on third party litigation funding. In addition to the practice violating the fee-splitting prohibition, ILR also said that litigation funding “naturally elevates the interest of the funder above that of the party,” particularly when the lawyer is contracting directly with a funder.

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