Writing for Bloomberg BNA, Anthony Sebok, Professor of Law at Benjamin N. Cardozo School of Law and an advisor to Burford, considers the procedural and policy concerns posed by the proposed Litigation Funding Transparency Act of 2018. Sebok warns of the dangers associated with blanket disclosure of legal finance. He notes:
“On balance, the benefits of the proposed legislation are outweighed by the costs. A better balance is struck by Judge Polster’s order in the opioid MDL. In that order, the court forces the parties to address potential conflict of interest and the issue of control without allowing the adverse party to obtain details about the underlying agreements. Disclosure is made to the judge alone. A reasonable person could conclude that the push for overly broad disclosure is purely voyeuristic.”