Same Old Story – More Money Flows into Litigation Financing and the US Chamber of Commerce Sho
Some days the litigation industry is very predictable. Yesterday, there was news that another litigation financing fund (Gerchen Keller) raised $ 260 million, according to a DealBook article. That article soon was followed by a chicken little pronouncement from the ILR arm of the US Chamber of Commerce, which also included a slap at those pragmatic Aussies for being part of the birthright of litigation funding. And of course the WSJ repeated the ILR’s sound bites. (However, nothing I saw was from John Biesner – he must be on vacation or really busy.)
But the WSJ article also had some balance. Thus, the article points out that a federal judge in Chicago recently denied discovery into litigation financing. The article also includes quotes more or less endorsing litigation financing from lawyers at corporate litigation powerhouse Kirkland & Ellis. Indeed, last I knew, virtually all litigation funding is for business suits and is not available to the ILR’s frequent target, the "evil cabal" of plaintiff’s personal injury lawyer.
And so it goes …… another day in which the litigation industry kept growing and expanding.