fbpx
News
December 13, 2013

Lawsuit Financing Code is ‘Toothless’

At a recent symposium, ILR consultant Mary Terzino said a voluntary code of conduct for litigation funders is insufficient. The Law Society Gazette reports:

Terzino said the need was now greater than ever to ditch the voluntary code set up in 2011 and protect clients whose cases are funded by third parties…

‘The voluntary code of conduct carries a lot of important safeguards but the only penalty for a breach is to be removed from the Association of Litigation Funders – it is completely toothless for those who are not members.’

In October, ILR released a paper that addresses the lack of regulation of third-party litigation financing in Australia. The paper, authored by Moira Saville of King & Wood Mallesons, says increased oversight of funders is needed to prevent conflicts of interest where a lawyer’s loyalty would be divided between the client and a funder.

Read the full paper here.

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