Martin Luther King Building & U.S. Courthouse in Newark, NJ. Photo: Carmen Natale/ALM It's Official: New Jersey Federal Courts Will Require Disclosure of Litigation Funding Arrangements
"Our rule strikes the balance that was needed between those who were concerned that it would open up the floodgates of disclosure, and those who felt we needed to provide certain basic information," said Steven Richman, who helped formulate the new rule.
June 21, 2021 at 05:50 PM
4 minute read
New Jersey's federal courts have adopted a rule amendment requiring lawyers to disclose details about litigation funding agreements.
The new rule says lawyers who get financial assistance from nonparties for legal fees and expenses must disclose the funder's name and address, whether the funder's approval is needed for litigation or settlement decisions, and what terms and conditions apply to such approvals.
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