Litigation Finance Firms Now Ranked by Chambers and Partners (Above the Law)
Above the Law, August 1, 2019
Litigation Finance Firms Now Ranked by Chambers and Partners
“There has been a sizable uptick in in recent years in the number of law firms that are looking for portfolio financing, although it’s been tempered somewhat by the recent opinion of the New York City Bar Association about nonrecourse financing. [Ed. note: Please click here to read an excellent piece about the Bar Association’s decision.] It’s an opinion that has generated a lot of heat and a lot of ethics professionals and other litigation funders have decried the logic of the opinion, which rests on a formality that even the opinion itself recognizes. I should note that NYCBA opinion doesn’t have the force of law, and there’s actually significant case law in New York and elsewhere around the country enforcing these types of arrangements. It’s an opinion that itself suggested that a legislative fix might be in order, and I know that the Bar Association is itself looking at that issue afresh even as we speak.”
