In June, the U.S. District Court for the District of New Jersey enacted Local Civil Rule 7.1.1 requiring disclosure of third-party litigation funding. While this rule is the subject of debate, an expert analysis in Law 360 argues that the criticism is misguided.
“Rule 7.1.1 is a logical extension of the current practices in many U.S. jurisdictions. It leads to greater transparency for the parties and the court without unduly burdening the parties and it is a positive development particularly in product liability cases,” the analysis says in part.
The analysis was written by Sheila Birnbaum, a partner and co-chair of the product liability and mass torts practice at Dechert LLP; Katherine Unger Davis, an associate at Dechert; and Gabrielle Piper, also an associate at the firm.