Peach Tree Times

The Georgia House has voted in favor of Senate Bill 69, a measure aimed at increasing oversight on third-party litigation financing. The bill passed with a 98-69 vote and is anticipated to clear the Senate later this week.

Once enacted, SB 69 will require entities financing lawsuits to register with the Georgia Department of Banking and Finance. It also intends to prevent financiers from influencing plaintiffs' decisions concerning case settlements. Moreover, the bill seeks to bar foreign governments from funding lawsuits within Georgia.

Hunter Loggins, State Director of the National Federation of Independent Business (NFIB), expressed support for the House's decision, highlighting concerns about the nature of third-party litigation financing. "Third-party litigation financing is a predatory practice that’s less about justice and more about bullying defendants into agreeing to a big settlement," Loggins stated. He emphasized that while the bill won't restrict access to legal proceedings, it aims to ensure transparency in lawsuit financing and fairness in court.