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Ohio Law Firm Can Use Financial Loan to Advance Client Costs

April 15, 2021, 4:13 PM

An Ohio personal injury law firm can ethically use a bank loan to advance litigation costs on behalf of a client in a contingency fee matter, the state professional responsibility board said.

There’s “no substantial difference between a lawyer using his or her own funds to advance costs and expenses to a client and a lawyer seeking financing from a lending institution to accomplish the same goal,” as long as certain safeguards are taken, the Ohio Board of Professional Conduct said April 9.

The board’s advisory opinion clarified that this scenario is not the equivalent of a litigation funding venture,...

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