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Full-Text Articles in Law
Third-Party Litigation Funding And The Dodd-Frank Act, Victoria Sahani
Third-Party Litigation Funding And The Dodd-Frank Act, Victoria Sahani
Faculty Scholarship
This article questions whether the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”) should apply to the growing phenomenon of third-party litigation funding, in which outside entities invest in litigation or arbitration for profit. Currently, the United States, Australia, and the United Kingdom lightly regulate third-party litigation funding, but the majority of the day-to-day oversight comes through voluntary funder self-regulation. Most third-party funders of commercial disputes are private hedge funds that are subject to the securities regulations of the jurisdictions in which they operate. The Dodd-Frank Act is a relatively new statute in the United States that regulates …
Third-Party Funding In International Arbitration: The Icca Queen-Mary Task Force, William W. Park, Catherine A. Rogers
Third-Party Funding In International Arbitration: The Icca Queen-Mary Task Force, William W. Park, Catherine A. Rogers
Faculty Scholarship
Third-party funding raises a host of ethical and procedural issues for international arbitration, perhaps most notably in connection with arbitrator comportment. The need for sustained study of these concerns prompted establishment of a Task Force on Third-Party Funding in International Arbitration, convened by the International Council for Commercial Arbitration (ICCA) along with Queen Mary College at the University of London. The Task Force, comprised of stakeholders from a range of viewpoints and backgrounds, will assess both real and perceived concerns that this relatively new practice raises, as well as what might be done, and why. This article outlines the Task …
Toward A Regulatory Framework For Third-Party Funding Of Litigation, Keith N. Hylton
Toward A Regulatory Framework For Third-Party Funding Of Litigation, Keith N. Hylton
Faculty Scholarship
Because third-party funding and sales of legal rights are equivalent in terms of their economics, I examine arrangements in which third-party sales of legal rights are permitted today; those arrangements include waiver, subrogation, and settlement agreements. These existing arrangements provide valuable lessons for the appropriate regulatory approach to third-party financing of litigation.