State Authorities
Ohio governor indicators invoice prohibiting international litigation funding
Ohio Gov. Mike DeWine speaks at a marketing campaign cease Nov. 4, 2022, in Moraine, Ohio. (Picture by Drew Angerer/Getty Images)
Ohio Gov. Mike DeWine on Tuesday signed into legislation a sweeping invoice that bans international litigation funders from doing enterprise within the state.
The transfer sparked outrage from the litigation finance business and praise from the U.S. Chamber of Commerce.
The laws prohibits entities and buyers “not domiciled in america” from partaking in litigation funding. It’ll stop finance and asset administration firms akin to Burford Capital and Parabellum Capital from doing enterprise within the state as a result of they’re headquartered overseas or have buyers who’re, in response to a story by Law360.
The new law additionally requires industrial and client funders to register with the state and disclose funding agreements to the state lawyer basic after instances resolve.
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