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This book analyses law and policy issues regarding the creation of markets for trading in legal
claims.
Policy
makers around the world are currently considering alternative sources for
financing litigation. Permitting plaintiffs to sell their legal claims to litigation entrepreneurs who can deal with claim prosecution efficiently would provide a means of redressing the imbalance that exists between legal costs, risks and claim
values, however, this practice is currently prohibited. The advent of litigation funding and other measures, such as the introduction of conditional fee
agreements and legal costs insurance, and their acceptance on access to justice grounds
indicates that
allowing the sale of legal claims would be a logical and potentially
beneficial development in the law, paving the way for the creation of a new
industry for trading in legal claims.
The book reviews the current positions in Australia, UK and
US regarding claim alienability and provides a comparative analysis of the
divergent paths that have developed in each, all of which portend towards
claim commodification.
The author examines the regulatory options to ensure that claim holders in a
legal claim market would be protected from exploitation and that the market operates fairly and
efficiently. The book reviews costs and abuse of process issues that could arise and conflicts of interest that
may exist between claimholders, lawyers and entrepreneurs. The author
argues that legal claim markets are
justified on both policy and efficiency grounds as a means of improving
access to justice.
Jurisdiction(s): Australia, UK, US
Contents
(to view full table of
contents -
click
here)
Ch 1 - Markets for Legal Claims: An Introduction
Ch 2 - Transferability of Legal Claims: Legal & Economic Theory
Ch 3 - Alienability of Legal Claims: Australia
Ch 4 - Alienability of Legal Claims: England
Ch 5 - Alienability of Legal Claims: United States
Ch 6 - Regulation of Markets for Legal Claims
Ch 7 - Abuse of Process, Costs & Secondary Sales
Ch 8 - Conflicts of Interest between Claim Holders, Lawyers & Litigation
Entrepreneurs
Ch 9 - Concluding Thoughts
Reviews
…remarkable…formidable scholarship...analys[ing] legal texts and case
law…in Australia, the UK and US…the [text] will be of considerable
interest to policy makers, particularly in the UK where alternative sources
for funding litigation…are now under consideration.
- Emeritus Professor of Law Martin Partington, English Law Commission
…original insights with respect to a vitally important area that has
received very little attention….. The author conveys her knowledge, ideas
and proposals in a clear, intelligent and balanced manner….. based on an
extensive and thoughtful analysis of the jurisprudence in this area both
locally and overseas.
- Associate Professor of Law Vince Morabito, Monash University (Australia)
…a very thorough analysis…..a substantial original contribution to
knowledge in this area...contain[ing] originality by the discovery of new
facts about this particular new kind of industry…
- Professor of Law John Farrar, University of Waikato (NZ)
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