The Center on Civil Justice at New York University School of Law mission is dedicated to the U.S. civil justice system and the continued fulfillment of its purpose. The Center brings together the unmatched strengths of the NYU Law faculty in the fields of procedure and complex litigation with the sophisticated practitioners and judges who make up our Board of Advisers. Together we endeavor to support our civil courts as a place for people to fairly and efficiently resolve their problems and access justice.
The Center on Civil Justice at NYU School of Law will host a one-day conference on October 28, 2024 on the subject of legislative efforts to regulate third-party legal funding with the goal of connecting the debates on key legal funding issues taking place in academia and among practitioners, lobbyists and legislators, in the US and in Europe.
The conference will consist of three panels, each focusing on a different legal funding reform effort. These include U.S. legislative efforts to regulate commercial litigation financing and consumer legal funding, in addition to an examination of European and other international legislative attempts to regulate third-party funding. The bill sponsors will be invited to present, along with experts on the topics the bill covers.
The event will take place on October 28, 2024, from 9am – 3:30pm. We encourage everyone to attend in-person at Greenberg Lounge of Vanderbilt Hall, 40 Washington Square South, NY, NY 10012.
For those who cannot do so, the event will also be livestreamed via Zoom. A link will be sent out to everyone who RSVPs.
The event is free, and we will be applying for CLE credit.
Register Here: https://forms.gle/Z5UuQcB2geNhRe7dA.
9:15 AM – 9:30 AM – Opening Remarks
9:30 AM – 11:00 AM – Panel 1: Disclosure of Commercial Litigation Financing Agreements
While much of the state legislation enacted on third-party litigation finance has focused on consumer legal funding, states and the federal government have begun to think about the regulation of commercial litigation funding as well. Specifically, the issue of whether, under what circumstances, and to what extent to disclose commercial third-party funding has been one of the most significant policy questions facing the industry for years. Legislation has been introduced or passed in West Virginia, Wisconsin, and US Congress regarding disclosure of commercial funding agreements, and we will discuss these bills and others and how they will impact the commercial funding landscape.
11:15 AM – 12:45 PM – Panel 2: New York A.115 – Consumer Funding
Much, if not most, state legislation focuses specifically on consumer legal funding and not commercial litigation financing. New York State alone has five different such bills. This panel chooses to focus on A.115, which has passed the New York State Senate but not the Assembly – the bill that has so far advanced the furthest. This bill caps returns to funders at the military lending rate. Other bills do not place such a cap at all but require full disclosure of the contract. This panel will discuss what is the best way forward to regulate the product in New York and across the country.
12:45 PM – 1:30 PM – Lunch
1:30 PM – 3:00 PM – Panel 3: EU P9_TA (2022) 0308 – International Legislation
In 2022, the EU Parliament adopted a resolution to introduce legislation creating minimum standards for third-party funding in the EU. The European Commission has yet to submit a formal proposal for the EU Parliament and European Commission to consider. However, the principals outlined in the resolution highlight many significant discussion points within the industry and demonstrate the state of international regulation of the industry.
3:00 PM – 3:15 PM – Closing Remarks
RSVP for the event here: https://forms.gle/Z5UuQcB2geNhRe7dA.
