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Interesting Podcast Ep on Champerty Laws and Litigation Financing for us Non-Legal Eagles
Posted on 10/4/19 at 7:36 am
Posted on 10/4/19 at 7:36 am
NPR’s Planet Money had an interesting segment on litigation financing. The most powerful thing that stuck out to me was the assertion it doesn’t matter if you are right or wrong it only matters how much money you have to be wrong...
LINK
SFP or other legal experts is litigation financing a big thing in Lousiana? It’s interesting that initially it was conceived to protect the little guy from mega-corporations and their deep pockets, but according to the podcast it’s major companies who are primarily financing their litigation so essentially the exact opposite of its intent. The margins appear to be huge.
LINK
SFP or other legal experts is litigation financing a big thing in Lousiana? It’s interesting that initially it was conceived to protect the little guy from mega-corporations and their deep pockets, but according to the podcast it’s major companies who are primarily financing their litigation so essentially the exact opposite of its intent. The margins appear to be huge.
3
Posted on 10/4/19 at 8:41 am to OleWarSkuleAlum
Is this about the companies that loan money to plaintiff’s before their case settles / is heard?
Posted on 10/4/19 at 8:49 am to NIH
quote:
Is this about the companies that loan money to plaintiff’s before their case settles / is heard?
As far as I understand it they lend to both plaintiffs and defendants.
Posted on 10/4/19 at 9:00 am to OleWarSkuleAlum
This sounds like what happened with Peter Thiel and Gawker Media, where Thiel financed multiple plaintiffs to sue Gawker. Gawker maybe could have settled some of the cases with the plantiffs or had some dismissed, but the number of cases Thiel financed and made sure went to court for judgements was too much for Nick Denton to continue the company. He saw the writing on the wall and realized Thiel wasn't going to stop the practice.
Posted on 10/4/19 at 9:07 am to McVick
They have some companies that finance medical payments and procedures for plaintiffs, which they have to pay back regardless of whether they settle/win. Essentially, the company pays the providers a fraction of what is owed, like an insurance company, then demands the full fee after settlement.
Posted on 10/4/19 at 10:22 am to OleWarSkuleAlum
quote:
NPR’s Planet Money had an interesting segment on litigation financing. The most powerful thing that stuck out to me was the assertion it doesn’t matter if you are right or wrong it only matters how much money you have to be wrong...
There is no law in this country. Only affordable law.
Posted on 10/4/19 at 11:27 am to McVick
quote:
This sounds like what happened with Peter Thiel and Gawker Media, where Thiel financed multiple plaintiffs to sue Gawker. Gawker maybe could have settled some of the cases with the plantiffs or had some dismissed, but the number of cases Thiel financed and made sure went to court for judgements was too much for Nick Denton to continue the company. He saw the writing on the wall and realized Thiel wasn't going to stop the practice.
I’m not familiar with the case you presented, but that sounds very personal and some other motive was behind it. The podcast presents the litigation financing as more of a business decision and not personal vendettas. Although personal vendettas were the reason for champerty laws in the first place.
Posted on 10/4/19 at 12:08 pm to McVick
quote:Same but different. Thiel did that as a passion project. The OP is about 3rd party lit fin as an investment strategy.
This sounds like what happened with Peter Thiel and Gawker Media, where Thiel financed multiple plaintiffs to sue Gawker. Gawker maybe could have settled some of the cases with the plantiffs or had some dismissed, but the number of cases Thiel financed and made sure went to court for judgements was too much for Nick Denton to continue the company. He saw the writing on the wall and realized Thiel wasn't going to stop the practice.
Posted on 10/4/19 at 5:11 pm to Big Scrub TX
quote:
Same but different. Thiel did that as a passion project. The OP is about 3rd party lit fin as an investment strategy.
That’s what I figured
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