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Debate continues over disclosure and caps in proposed litigation‑funding law
Summary
Michael Farley, vice president and general counsel for the Ohio Insurance Institute, told the committee Senate Bill 10 seeks to require disclosure of commercial litigation‑funding agreements to promote transparency and restore balance among litigants.
Michael Farley, vice president of government affairs and general counsel for the Ohio Insurance Institute, told the committee that Senate Bill 10 aims to “promote transparency” in third‑party commercial litigation funding and place disclosure obligations on commercial funders similar to those already applied to insurance under Ohio Civil Rule 26(b)(2).
Farley said the substitute version “embraces the need for transparency in commercial funding agreements” so that parties have equal information for settlement evaluation. “This transparency is essential to restoring some level of equality amongst parties and litigants,” he said.
Opponents argued the substitute bill, as drafted, would unintentionally harm…
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