Litigation Financing: Balancing Access with Fairness
-
Malcolm E. Wheeler
and
Theresa Wardon Benz
Abstract
Litigation financing of plaintiffs by financiers other than the law firms representing the plaintiffs in the litigation is now a multi-billion-dollar industry. Contrary to assertions by advocates for such litigation financing, such litigation financing does not increase fairness and justice to poor and middle-class victims. Instead, it creates substantial problems beyond any associated with standard contingent-fee agreements between plaintiffs and the lawyers who represent them.
This article describes the multiple ways in which the litigation-financing industry harms poor and middle-class tort plaintiffs and generates inefficient uses of judicial resources and jurors' time. It then recommends actions that courts can take to reduce those problems.
Acknowledgment
The authors are grateful for the assistance provided by Dmitir B. Vilner in the research for this article.
© 2020 Walter de Gruyter GmbH, Berlin/Boston
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Articles in the same Issue
- Frontmatter
- AALS Torts Panel
- “…A Damn Shame”: James Davey’s Thoughtful Cynicism
- By Insurers, For Insurers: The UK’s Liability Regime for Autonomous Vehicles
- Not So Fast: A Brief Plea for Muddling Through the Problems of Autonomous Vehicle Liability
- Essay
- Ordinary Tort Litigation in China: Law versus Practical Justice?
- Symposium, “What Practitioners Can Teach Academics about Tort Litigation”
- Expert Testimony Needs Judges to Act as “Gatekeepers”: The Maryland Court of Appeals Teaches Why
- Shifting the Burden of Proof on Causation: The One Who Creates Uncertainty Should Bear Its Burden
- Defending Government Tort Litigation: Considerations for Scholars
- What Practitioners can Teach Academics About Tort Litigation – The Plaintiff’s Perspective in Medical Malpractice Litigation
- Litigation Financing: Balancing Access with Fairness
- Products Liability Law – Lessons from the Military and Industrial Contexts
- What Practitioners can Teach Academics about Tort Litigation: Auto Accidents from the Plaintiff’s Counsel
- Fighting the Good Fight: The Insurance Defense Litigator
