New Jersey is the latest jurisdiction to look at whether litigants should have to declare when they’ve received third-party investments.
Commenting on the news, Commercial Director at Disputed.io Lochy Macpherson says, 'Its pleasing to see that attitudes to 3rd party funding have come a long way since the U.S. Chamber of Commerce, said litigation funding turns the “courthouse into a casino,".
'Although some incumbents think they benefit from clandestine deals, in reality we all benefit from a more open, transparent, accountable system. An open market for litigation funding is a good step in this direction.'
Litigation finance companies and an industry group urged New Jersey’s federal court to abandon a proposed rule that would require the disclosure of so-called litigation finance, according to comments filed with the local clerk and obtained by Bloomberg Law.
