Forbes – Litigation-Finance Contract Reveals How Investors Back Lawsuits
Daniel Fisher at Forbes explores the funding sources behind the lawsuit against Chevron in Ecuador:
The story behind the financing of the Ecuadorean villagers is a bit more complex. As they were closing in on an $18 billion pollution verdict against Chevron last year, the plaintiffs had a problem. Their lead attorney, Steven Donziger, had spent $6 million or so on the case over almost two decades but he had ruptured his relationship his with longtime financial backer, Philadelphia attorney Joseph Kohn, after a series of missteps including inviting a documentary filmmaker to record damaging conversations on camera. With victory in sight, the lawyers were in danger of running out of cash.