Seymour “Sy” Everett, a name partner in a rapidly expanding Orange County law firm, has noticed a growing development in his corporate defense practice.
It’s called litigation funding, where a third party supplies money to a plaintiff in return for a portion of any financial recovery, or for loan repayment with interest.
Funding litigation may seem like inside baseball to non-attorneys. Everett, managing partner of Everett Dorey LLP in Irvine, emphasizes it’s “topical and is impacting the practice of law.”
Among other things, the practice makes it more difficult to settle cases if the plaintiff — the one bringing the lawsuit — has already been paid.
Everett acknowledges more work needs to be done to have a full understanding of the practice and its implications.
