Bar Groups Say IOLA Settlement Protects Civil Litigants' Fund From Future 'Raids'
Through pro bono efforts of Greenberg Traurig, four New York bar associations said they secured a settlement with Gov. Kathy Hochul and Comptroller Thomas DiNapoli that assures the state's incumbent leaders won't try to leverage a trust fund that holds millions for needy civil litigants. The officials had taken $55 million to help balance the fiscal 2025 budget.
January 31, 2025 at 05:39 PM
3 minute read
Four bar associations said on Friday that the New York state government's unprecedented move to balance its checkbook in 2024 by seizing $55 million from a trust reserved for low-income residents' civil litigation needs will not be repeated during the tenures Gov. Kathy Hochul and Comptroller Thomas DiNapoli.
After months of negotiations, and the threat of a lawsuit, the New York State Bar Association, the New York City Bar Association, the New York County Lawyers Association and the Monroe County Bar Association said it successfully reached negotiations with the two elected state officials.
It's not necessarily a monetary settlement. However, the associations said that Hochul and DiNapoli agreed not to attempt to balance its budget by using money from the Interest on Lawyer Account Fund of New York State.
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