New Jersey Senate Advances Bill Regarding Consumer Litigation Funding
Highlights
The New Jersey Senate will vote on a bill to regulate the commercial litigation funding industry – both who can engage in such funding and what the terms of those agreements must contain
Proponents of the bill see it as a means to “stop the bad apples” in a “largely unregulated” industry
Some critics are concerned with the effect the proposed bill will have on the discoverability of consumer funding agreements in the underlying litigation
The ongoing debate over the importance and level of transparency in litigation continues to bring the issue of litigation funding to the fore. Thus far, there has been a patchwork approach across jurisdictions with regard to the disclosure of such funding agreements. Certain courts, including those in New Jersey or specific judges, have issued standing orders requiring disclosure while others have remained silent.
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