Professor Cassandra Robertson, who has been a member of the national Uniform Law Commission since 2016, has been appointed to chair the commission’s study committee on third-party funding of litigation.
Drawing upon the assistance of industry and consumer groups, the commission promotes the creation of model legislation for states to enact around the country. The committee Professor Robertson has been appointed to chair will study the need for and feasibility of a uniform or model law governing third-party funding of litigation and arbitration. Third-party funding, in its traditional form, is a non-recourse loan from the funder to a party in arbitration or litigation in return for a contingent right to receive a portion of the potential proceeds of a settlement, judgment, award, or verdict obtained for a legal claim.
Within the last decade, the picture has become more complex. New forms of funding include portfolio financing of large numbers of cases at a law firm or corporation, equity investment products that finance litigation in exchange for shares in a company, as well as crowdfunding. Current state legislation on third-party funding varies in terms of the issues addressed and the policy solutions provided.
Robertson is the John Deaver Drinko—BakerHostetler Professor of Law and Director of the Center for Professional Ethics. She has been a faculty member since 2007 and teaches civil procedure, professional responsibility, and secured transactions.