A San Francisco-based federal appeals court asked the highest court in New York to decide whether a litigation funding agreement requiring the repayment of attorney fees in unrelated cases runs afoul of the state’s usury laws.

The certified question from the U.S. Court of Appeals for the Ninth Circuit asked the New York Court of Appeals to decide whether the arrangement qualified as a “loan” or “cover for usury” under a state statute, which caps the amount of interest that can be charged for lending.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]