New law in this state targets foreign litigation funding
Ohio is cracking down on third-party litigation funding by banning investments from international funders. (Image from Shutterstock)
Ohio is cracking down on third-party litigation funding by banning investments from international funders, a move that could prevent larger funders, such as Burford Capital and Omni Bridgeway, from financing litigation filed in the Buckeye State.
The new Ohio law not only bans outside investments from foreign countries of concern but also bans investments with foreign ties.
The law, which goes into effect Oct. 6, impacts litigation filed in Ohio state courts but does not affect litigation filed in federal court.
The lawmakers behind the bill said the new measure prevents foreign entities from influencing state courts and helps bring transparency to third-party litigation funding agreements, according to a story by Law.com.
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