Foreword

Hon. Shira A Scheindlin
United States District Judge (Ret.)

I spent 27 years as a US federal judge in the Southern and Eastern Districts of New York, first as a Magistrate Judge and then as a District Judge. Following my retirement from the bench in 2016, I have practiced as an arbitrator, mediator, special master and expert witness. I have also worked in the growing and exciting field of third-party litigation funding (TPLF).

I joined the Investment Advisory Panel at Woodsford Litigation Funding in 2017, a time of significant growth in TPLF in the United States and globally. Alongside other arbitrators and former judges, including John Beechey, a past President of the Court of Arbitration of the International Chamber of Commerce, and Fidelma Macken, a former judge of the Court of Justice of the European Union and of the Irish Supreme Court, I participated in the rigorous process by which cases are evaluated at a leading TPLF business. I learned a great deal about the financial, as well as the legal, implications of the funding arrangements, both of which are thoughtfully and thoroughly explored throughout this book.

As explained by the expert authors of this book, debate continues in many jurisdictions, including the United States, on significant issues relating to TPLF. It is beyond cavil that the interests of third-party funders must never lead to abuse or corruption of the litigation process. The interests of the funded party must always be counsel’s first priority. Nonetheless, TPLF plays a critical role in leveling the playing field for all parties to a dispute and should not be unduly burdened, whether by over-expansive disclosure rules, waiver of privilege, or unnecessary ethical restraints. It is my belief that TPLF is fair, useful and provides much needed access to justice for all participants in the legal system. With careful safeguards TPLF is an important addition to the justice system and is here to stay.

In my foreword to the first edition of this book, I wrote that this book deserved a place in law and finance libraries throughout the world. I was happy to learn that the first edition was indeed well received by lawyers, judges, and policymakers, and was not surprised that a second edition was in the works. Particularly given TPLF’s position at the intersection of law and finance, and its role in facilitating access to justice, it is important that there be an accurate, comprehensive, and up-to-date overview of the subject. This book serves that purpose with distinction.

Hon. Shira A Scheindlin
United States District Judge (Ret.)
Fellow, College of Commercial Arbitrators
6 March 2024

The book can be purchased from Bloomsbury Professional here.