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Still, the practice has its detractors, who say that litigation financing may encourage more frivolous lawsuits.
The American Bar Association recently issued a report that outlined the risks of litigation financing but did not condemn the practice.
The New York City Bar Association estimated in 2011 that the total amount of money in play in litigation financing in the United States exceeded a billion dollars.
John H. Beisner, a partner at the law firm Skadden, Arps, Slate, Meagher & Flom, who has been retained by the United States Chamber of Commerce, testified last year before the House of Representatives that litigation financing could encourage frivolous lawsuits.
Legal experts say litigation financing has become more prevalent in recent years with the proliferation of companies devoted to helping not just lawyers and law firms, but also individual plaintiffs, while they await resolution of cases.
But some business leaders have questioned the value of the litigation financing industry, said Lisa A. Rickard, president of the Institute for Legal Reform at the United States Chamber of Commerce.
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That's when litigation finance came in.
The MC Mojave case did not involve litigation finance, as that term is commonly understood.
Litigation finance is the antidote to this problem, not its cause.
In 2012, the litigation finance team at Credit Suisse left to form Parabellum Capital.
Is the legal innovation of litigation finance levelling the playing field or making justice a commodity?
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