Foreign Third-Party Litigation Financing

The bill requires a foreign third-party funder that enters into a litigation financing agreement to disclose and submit certain information to the Colorado attorney general.

The bill prohibits a foreign third-party funder from taking part in certain activities.

The bill subjects a litigation financing agreement to discovery under the Colorado rules of civil procedure and Colorado rules of evidence.

The bill deems a litigation financing agreement entered into by a foreign third-party litigation funder void if the foreign third-party litigation funder fails to comply with the activity and disclosure requirements.

The bill allows the attorney general to bring legal action against a foreign third-party litigation funder to enforce compliance with the bill, impose fines, prohibit a foreign third-party litigation funder from operating in this state, or impose any other sanction the attorney general deems appropriate for a violation of the activity or disclosure requirements.

(Note: This summary applies to this bill as introduced.)