fbpx
News
November 28, 2017

Third Party Funding Arrangements Raise Questions in NFL Settlement

U.K. law firm Clifford Chance and one of its partners have been fined £100,000 for an “unlawful and unenforceable” fee agreement in a failed $1.6 billion lawsuit against U.S. energy companies, reports Law360.

The Solicitors Disciplinary Tribunal’s announcement stems from a 2010 suit against Texas Keystone Inc. and Gulf Keystone over an oil production deal. Litigation funders invested nearly $40 million in the case that was dismissed after a judge called it “replete with defects, illogicalities and inherent improbabilities.” A Clifford Chance partner failed to disclose his ties to one of the funders, which the judge said formed “an acute conflict of interest.” 

An appeals court later backed the decision after it uncovered a contingency fee arrangement that would have awarded Clifford Chance 140 percent of the usual fees if the plaintiffs had won.

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