HB240

Louisiana HB240 regulates disclosure of litigation financing agreements and limits recoverable amounts by financiers.

Louisiana HB240 amends existing law to regulate third-party litigation financing agreements. It prohibits litigation financiers from recovering more than their share of the proceeds after attorney fees and costs. The bill mandates that attorneys disclose any litigation financing contracts within 30 days of being retained or entering into the agreement. This disclosure requirement applies to civil actions, administrative proceedings, claims, or other legal proceedings seeking monetary damages.