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The Rules Of Professional Responsibility And Legal Finance: A Status Update, Anthony J. Sebok
The Rules Of Professional Responsibility And Legal Finance: A Status Update, Anthony J. Sebok
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Legal finance occurs when strangers fund litigation for profit. Traditionally looked upon with suspicion in the common law, and limited by the doctrines of champerty and maintenance, legal finance is now a thriving part of the American legal landscape. Legal finance has been promoted as a solution to the access-to-justice problems facing working and middle class Americans, as well as a new asset class for Wall Street. At the center of legal finance, however, are lawyers – not the lawyers who write the contracts for the financing – but the lawyers for the cases being financed.
Over the past decade, …