To amend chapter 111 of title 28, United States Code, to increase transparency and oversight of third-party funding by foreign persons, to prohibit third-party funding by foreign states and sovereign wealth funds, and for other purposes.
About This Bill
Committee
Latest Action · September 14, 2023
Read twice and referred to the Committee on the Judiciary.
This bill would require parties in federal civil lawsuits to disclose any third-party funding they receive from foreign sources, including the names and addresses of foreign funders and copies of funding agreements. The legislation applies to any situation where a foreign person, entity, or government has a financial stake in the outcome of a case. The bill also completely prohibits federal courts from allowing litigation funding agreements that are financed by foreign governments or sovereign wealth funds, making such agreements null and void if entered into. Additionally, the Attorney General would be required to report annually to Congress on foreign-funded litigation in federal courts, including the identities of foreign funders, the amounts involved, and which countries are providing the money. These requirements would apply to all civil cases filed in federal court on or after the bill becomes law.
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