November 25, 2006
Putting the Derivative in Derivative Lawsuit
The New York Times, in "Next, a Litigation Futures Exchange?", reports (via Joshua Lipton of The American Lawyer) Australia's highest court has given the okay to "litigation funding companies" that get a piece of the recovery for a share of the costs. While some may scream "champerty" or "maintenance," I'm not sure that creating a market in law suits is such a bad thing, but only if you combine it with the English rule on attorneys fees.
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