New New Jersey Fed. Litigation funding scheme needs to be welcomed
Law360 (Aug 9, 2021, 3:25 p.m. EDT) – On June 21, the US District Court for the New Jersey District issued Local Civil Rule 7.1.1, which requires disclosure of “any person or entity that is not a party and will fund some or all of the legal fees and expenses of the litigation without recourse. “
The rule requires all parties to submit a statement within 30 days of filing an initial plea, including the identity of the donor, whether the donor’s consent is required for litigation or settlement decisions, and a brief description of the nature of the donor’s financial interest .
A party can …
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