Litigation Finance (Baker/Marra)
M 4:30PM - 6:30PM
Silverman Hall 270
This seminar will take a hands-on, topical approach to litigation finance that will explore the history, economics, business practice, law, and social implications of this burgeoning field. Insurance companies have financed the defense side of litigation for 150 years, and contingency fee law firms have financed litigation through partnerships, joint ventures, and bank loans for almost as long. So litigation finance, per se, is not new. What is new, however, is investor-backed litigation finance offered on a non-recourse basis, including to Fortune 500 corporations and the AmLaw 100 and boutique law firms at which so many Penn Law grads start their careers. This kind of litigation finance is both a new asset class and a potentially transformative form of law firm and client financing. The seminar will feature outside speakers, experiential learning (underwriting, drafting, and negotiating litigation finance deals), and student-directed research. Warning: If you are looking for a tightly crafted course and thoroughly field-tested course materials taught by a professor for the tenth time (or more), this course is not for you. There will be false turns and dead ends, but you will emerge from the experience knowing more about this exciting new area than most of the partners in most large law firms. The course will be co-taught by William Marra, an investment manager at Validity Finance.
Courts and the Judicial System Learning outcomes: Demonstrate a core understanding of both substantive and procedural issues in the operation of our legal system; Perform legal analysis in the context of procedural issues and the judicial process; Communicate effectively on topics related to procedure and the judicial process; Demonstrate an understanding of how procedural issues and the judicial process affect all other area of our legal system.
Professional Responsibility and Ethics Learning outcomes: Demonstrate an understanding of how the law affects, and is affected by, the individual course topic; Perform legal analysis in the context of the individual course topic; Communicate effectively on the legal and other aspects of the individual course topic; Demonstrate the ability to use other disciplines to analyze legal issues relevant to the individual course topic, including economics, philosophy, and sociology, as appropriate.