Abstract

http://ssrn.com/abstract=2419686
 


 



Harmonizing Third-Party Litigation Funding Regulation


Victoria Shannon


Washington and Lee University - School of Law

September 8, 2014

Cardozo Law Review, Vol. 36, Feb. 2015

Abstract:     
Third-party litigation funding is no longer a new phenomenon, but rather is a mainstay in global commerce and dispute resolution. Yet, many observers still consider the third-party litigation funding industry as a "wild west" due to a lack of regulation in many countries. Some of the countries that have regulations suffer from a lack of uniformity and an array of conflicting laws at the sub-national level (i.e., the laws of states, provinces, territories, etc.). For example, the United States has a confusing patchwork of state laws on third-party litigation funding. This article proposes harmonizing the regulatory framework for third-party litigation funding in the United States by identifying the three categories of interactions – transactional, procedural, and ethical – that make up third-party litigation funding and suggesting avenues for regulation within those three categories. This approach will weave a regulatory "safety net" of minimum standards for the behaviors and interactions of the players in third-party litigation funding arrangements to ensure the integrity of the dispute resolution system in which they invest and participate.

Number of Pages in PDF File: 53

Keywords: third-party litigation funding, litigation funding, litigation, arbitration, investment, securities, ethics, procedure, federal rules of civil procedure, model rules of professional responsibility, regulation

JEL Classification: K40, K41, K42, K49, K00, K10, K19, K13, K20, K29

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Date posted: April 4, 2014 ; Last revised: September 9, 2014

Suggested Citation

Shannon, Victoria, Harmonizing Third-Party Litigation Funding Regulation (September 8, 2014). Cardozo Law Review, Vol. 36, Feb. 2015. Available at SSRN: http://ssrn.com/abstract=2419686

Contact Information

Victoria Anne Shannon (Contact Author)
Washington and Lee University - School of Law ( email )
Lexington, VA 24450
United States
HOME PAGE: http://law.wlu.edu/faculty/profiledetail.asp?id=686
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