WASHINGTON, D.C. — U.S. Chamber of Commerce Institute for Legal Reform President Harold Kim released the following statement today on the bipartisan introduction of the Protecting Our Courts from Foreign Manipulation Act of 2023. The bill would require transparency to courts, to the parties, and to the Department of Justice when foreign persons and entities invest in litigation in the U.S. and would prohibit foreign governments and sovereign wealth funds from investing in U.S. lawsuits.
“For far too long, the litigation funding industry has operated in secret. Judges, the parties, and the Justice Department should know if foreign-sourced money is being poured into U.S. litigation against American businesses in exchange for a cut of the settlement or award. The Protecting Our Courts from Foreign Manipulation Act also will help limit the ability of foreign governments to weaponize our court system against U.S. national and economic security interests.”
“The U.S. Chamber of Commerce applauds Sens. John Kennedy (R-LA), Joe Manchin (D-WV), and Rep. Mike Johnson (R-LA) for introducing this landmark bill, and we urge Congress to quickly pass it to protect consumers, businesses, and U.S. national and economic security.”