Legal minds Paul Haskel and Jim Walker have kept a close eye on how litigation funding is impacting legal ethics. Like many lawyers and judges, they have grave concerns and feel that some tweaks in the Code of Ethics should be considered. But how to get everyone on the same page about what needs to change? 

While not legally binding, the recent NYC Bar Association opinion on litigation funding is a powerful statement on the ethics of funding and what regulations are needed. In response to this, a 25-person working group on litigation funding was assembled. 

As litigation funding increases in popularity, funders find that they can take their pick of lawyers and cases to back. While on the other hand, securing the funding needed to successfully litigate a case can be a challenge. Aside from the usual considerations—potential recovery amount and time, overall merits of the case, etc.—funders look closely at the lawyer(s) involved.  

A UK case involving the post office, buggy accounting software, and widespread accusations of theft was big news across the pond. After numerous sub-postmasters were accused of theft, many endured firing, public shaming, loss of property, and even jail time. The real culprit was bad accounting software made by a company called Horizon.  Now, the plaintiffs are alleging that the bulk of their payout will go to the firm that financed the legal case—and not to the people who were actually hurt. 

International Women’s Day has come and gone.  But the issues women face in the workplace—and in law firms in particular—are still present.  With that in mind, Buford Capital has set aside a roughly $50 million funding pool to help balance the gender gap in litigation funding.