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The Current State of Litigation Finance Legislation: Part 1

By Mikey Abts, Vice President of Caden Investments

The “rules” of litigation finance are currently a hodgepodge of case law, ethics opinions, and a variety of legislative acts.  Different legislatures across the United States and abroad have made efforts to bring clarity and order to the field, but it is still a fractured industry.  Although litigation finance is now generally accepted in the United States and many countries globally, clear rules and criteria for litigation finance would help investors, lawyers, and litigants understand how to operate in the field.  At present, the majority of legislative rulings are targeted at the consumer litigation finance industry.

Below, I have provided a broad outline of different attempts made by legislatures to address and regulate the field of litigation finance.  This is not an exhaustive list; it is a quick resource for finding and understanding many of the key events surrounding litigation finance legislation.