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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 South Carolina, 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, but may not be repaid if the case is unsuccessful. South Carolina does not have specific statutes directly regulating litigation funding for general civil litigation. However, the practice is subject to general legal principles and contract law. Attorneys involved in arrangements with litigation funders must adhere to ethical rules, including those concerning conflicts of interest, confidentiality, and the control of litigation. It is important for parties considering litigation funding to review any agreements carefully and consider the ethical implications for the attorneys involved.

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Civil litigation

litigation funding

Individual & Family Legal Plan

Articles

South-Carolina State Code

South-Carolina State Code

Civil litigation

litigation funding

Articles