The Case For Lawyer-Directed Litigation Funding In NY: Part 1
Law360 (January 10, 2019, 3:07 PM EST) -- Last year, the New York City Bar Association Ethics Opinion 2018-5 came to the conclusion that lawyer-directed, nonrecourse commercial litigation funding (or lawyer-directed funding, for short) violates the prohibition in New York RPC 5.4(a), and by extension ABA Model Rule 5.4(a) on sharing fees with nonlawyers. In this two-part article, we will explain our concerns with this opinion. Part one reviews the language and history of Rule 5.4(a) and points out that neither the language nor the history of the rule compels the conclusion that lawyer-directed funding violates the rule. Part two will then explain how and why lawyer-directed funding is,...
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