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N.J. Federal Courts Will Now Require Disclosure of Litigation Funding

There is a Chinese Proverb that says, “never do anything that you want to remain a secret.” Now, thanks to a new rule amendment adopted by the U.S. District Court for the District of New Jersey, this proverb also applies to litigation funders in federal court in the Garden State. New Jersey’s decision is a significant victory in the fight to bring transparency to a multibillion industry that operates in the shadows.

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Third-Party Funding Threatens Flood of Litigation

Hedge funds and other speculators are eying the EU market hungrily as it loosens rules for lawsuits brought on behalf of thousands or even millions of people, says Institute for Legal Reform Senior Vice President Scévole de Cazotte in the latest issue of AmCham Croatia’s magazine.

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Australian Government Says Greater Oversight of Litigation Funding Industry Needed

The Australian Parliamentary Joint Committee on Corporations and Financial Services released a report this week calling for more stringent oversight of the country’s “highly unique” litigation funding industry. The report is a watershed moment for civil justice in Australia, the birthplace of third party litigation funding (TPLF), and for the litigation funding industry in general, as the use of TPLF is increasing worldwide.

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Australia Takes Major Step in TPLF Regulation

Australian Treasurer Josh Frydenberg is set to announce new regulations and rules for third party litigation funding, according to the Australian Financial Review. Litigation funders will be classified under the country’s Corporations Act, and the government will require all funders to hold an Australian Financial Services Licence in order to operate.

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