June 16, 2011
New York City Bar Weighs in On Third Party Litigation Funding
The New York Law Journal reports that the New York City Bar Association has issued an ethics opinion addressing non-recourse litigation financing by third parties.
The purpose of the opinion appears to be an attempt to clarify existing principles as they apply to third party litigation financing. The bottom line from the NYCBA: Non-recourse litigation financing from third parties is not necessarily illegal but lawyers should be particularly attentive to avoiding conflicts of interest, disclosure of privileged materials, and promoting particular financing agencies or arrangements.
June 16, 2011 | Permalink