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Civil litigation

litigation funding

Litigation funding—also known as litigation financing or third-party litigation funding (TPLF)—provides a person or entity with the money to pay attorney fees, expert witnesses, and other costs necessary for litigation. Litigation funding is essentially a loan, secured by the proceeds of the expected settlement or collection of judgment in a lawsuit, and is designed to allow persons or entities without the necessary resources to pursue valid claims in litigation.

In Maine, litigation funding, also known as third-party litigation funding (TPLF), is a practice where a third party provides financial assistance to a litigant to cover legal expenses such as attorney fees and expert witness costs. This funding is typically non-recourse, meaning that the funder is repaid from the proceeds of a settlement or judgment if the case is successful, and receives nothing if the case is lost. While Maine does not have specific statutes directly regulating litigation funding, the practice is generally subject to contract law principles and must comply with state laws regarding consumer protection and lending. Attorneys involved in cases with litigation funding must also adhere to professional conduct rules, including those related to conflicts of interest, confidentiality, and the control of the litigation by the client.

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Civil litigation

litigation funding

Individual & Family Legal Plan

Articles

Maine State Code

Maine State Code

Civil litigation

litigation funding

Articles