Ask About TPLF

Ask About TPLF

公共事务

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Courts and parties to civil litigation must Ask About TPLF in order to know who is controlling decisions in the courtroom, avoid conflicts of interest and disruptions to the legal process, and comply with basic procedural rules. Today banks, Wall Street hedge funds, foreign sovereign wealth funds and other entities invest secretive third-party funding in lawsuits and have more than $15 billion in assets dedicated to U.S. civil litigation — betting that they can earn big returns from large legal judgments and settlements. Third-party litigation funding (TPLF) occurs when a person or entity that is not a party to a legal case invests money with the goal of reaping large profits contingent upon the outcome of the case. TPLF occurs in many types of cases and comes in different forms, but the goal is always the same: netting a big financial return from the litigation of someone else’s claim. Indeed, third-party funders not only make money by buying an interest in a plaintiff’s recovery, but also may require repayment of their investment at predatory interest rates. Although the issues TPLF raises can be complicated, the solutions are simple: Courts should AskAboutTPLF by ordering disclosure of TPLF agreements in their civil cases, and the FRCP should be amended to provide a simple, uniform procedure for disclosure of TPLF agreements in all federal district courts.

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公共事务
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  • Ask About TPLF转发了

    查看Lawyers for Civil Justice的公司主页,图片

    1,630 位关注者

    It’s time for courts and parties to Ask About TPLF.?LCJ is launching our Ask About TPLF website, a new resource dedicated to promoting transparency in Third-Party Litigation Funding (TPLF). The site provides insights on TPLF’s impact on civil litigation and details the need for clear and uniform rules governing disclosure of TPLF agreements.?Explore the website and sign up for updates on LCJ’s Ask About TPLF initiative.?Visit now?www.askabouttplf.com

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  • 查看Ask About TPLF的公司主页,图片

    63 位关注者

    Yesterday the Advisory Committee on Civil Rules formed a subcommittee dedicated to investigating third-party litigation funding in federal civil cases. This is an important step towards the creation of a simple and uniform rule governing disclosure of third-party funding agreements. ? ? Undisclosed TPLF is a disruptive force in courtrooms nationwide, and a patchwork of court practices has developed as courts consider – or not – requests for disclosure. In the absence of a rule providing a consistent disclosure process, the procedural landscape of federal litigation will remain fractured and inconsistent.? ? Lawyers for Civil Justice encourages courts and lawyers to “Ask About TPLF” – this is the name of our soon-to-be launched website that will serve as a hub for information and resources.?

  • 查看Ask About TPLF的公司主页,图片

    63 位关注者

    We’re #AskAboutTPLF, a new project of Lawyers for Civil Justice! Did you know that banks, hedge funds, foreign sovereign wealth funds and others invest billions in third-party funding (TPLF) in lawsuits? Courts and parties to civil litigation must #AskAboutTPLF in order to know who is controlling decisions in the courtroom, avoid conflicts of interest and disruptions to the legal process, and comply with basic procedural rules. Because #TPLF is usually not disclosed, courts and parties don’t know which cases involve such funding, the extent of the funders’ control over decisions, the potential for conflicts or the role or impact that third-party funders may have in cases. Disclosure of TPLF to courts and parties is necessary. Courts and parties need to #AskAboutTPLF, and the Federal Rules of Civil Procedure should be updated to require disclosure of funding agreements to ensure judges and parties know who may have a secret stake in the outcome of their case. Lawyers for Civil Justice has proposed several rules that would bring transparency to our courtrooms and protect the fair administration of justice. FOLLOW US for updates on our work to require disclosure of third-party money in our courts.

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