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In most jurisdictions 1, nothing prohibits a lawyer from advising clients about the availability of non-recourse funding solutions such as those offered by LawFunds®.2 However, it is important that the attorney's involvement with the transaction itself by reasonably proscribed. 3
LawFunds® is attorney owned and operated and, therefore, fully versed in the ethical requirements regarding non-recourse transactions. As a result, LawFunds®' application and underwriting processes, along with our transactional documents, are specifically designed to ensure attorney compliance with all ethical requirements. Whenever information that may be deemed confidential is necessary, a consent waiver is obtained. Moreover, our contracts explicitly indicate that the attorney has not provided any guarantees, representations, warranties, or other assurances regarding the case and its potential for success.
In addition, when an assignment is purchased, LawFunds® is merely obtaining a right to future contingent proceeds. As such, our involvement in the case is limited to monitoring its progress through periodic status reports. Funding approval represents our confidence in plaintiff's counsel and we never interfere with the attorney-client relationship, nor do we share our opinions on factual or legal issues regarding the case unless specifically requested to do so by counsel.
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For links to available state ethics opinions,
Click Here.
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