On Friday, November 20, Professor Sahani will present her forthcoming article, Judging Third-Party Funding, at a litigation funding conference hosted by the NYU School of Law’s Center on Civil Justice. Professor Sahani’s panel will focus on litigation funding in the context of the Federal Rules of Civil Procedure and will be moderated by Professor Arthur Miller of the NYU School of Law, who is a Faculty Co-Director of the Center on Civil Justice. The conference is free and open to the public, and CLE credit will be offered.
For more information and to register, please visit: http://www.law.nyu.edu/centers/civiljustice/2015-fall-conference.
Professor Sahani’s article will be published in the UCLA Law Review in February 2016.
From the abstract:
Third-party funding is an arrangement whereby an outside entity finances the legal representation of a party involved in litigation or arbitration. The outside entity—called a “third-party funder”—could be a bank, hedge fund, insurance company, or some other entity or individual that finances the party’s legal representation in return for a profit. Third-party funding is a controversial, dynamic, and evolving phenomenon. The practice has attracted national headlines and the attention of the Advisory Committee on the Federal Rules of Civil Procedure (Advisory Committee). The Advisory Committee stated in a recent report that “judges currently have the power to obtain information about third-party funding when it is relevant in a particular case,” but the Committee did not provide any additional guidance regarding how to determine the relevance of third-party funding, what information to obtain, or from whom to obtain that information. This Article provides that needed guidance by setting forth revisions and reinterpretations of procedural rules to provide judges and arbitrators with disclosure requirements and a framework for handling known issues as they arise. By revising and interpreting the procedural rules as suggested in this Article, judges and arbitrators will be able to gain a better sense of the prevalence, structures, and impact of third-party funding and its effects (if any) on dispute resolution procedures. Over time, these observations will reveal the true systemic impact of third-party funding and contribute to developing more robust third-party funding procedural regulations.