Ballard Attorneys Pilot Unprecedented Utah Law

Class Action Waivers Throughout Country Strengthened by New Utah Law



Mar 22, 2006, 00:00 ET from Ballard Spahr Andrews & Ingersoll, LLP

    PHILADELPHIA, March 22 /PRNewswire/ -- Ballard Spahr Andrews & Ingersoll,
 LLP, is proud to have drafted important new legislation, Chapter 172, which
 was signed into law on March 15, 2006 and which will help banks and finance
 companies defeat class actions filed against them throughout the country.
 Ballard's Consumer Financial Services Group developed and promoted the
 legislation, and Jerry Oldroyd, in the firm's Salt Lake City office,
 shepherded its enactment through the Utah Legislature with almost unanimous
 support in just a few weeks.
     (Photo: http://www.newscom.com/cgi-bin/prnh/20060322/NYW137-a
             http://www.newscom.com/cgi-bin/prnh/20060322/NYW137-b )
     The new statute is the first in the nation that validates class action
 waivers (i.e., language in a contract saying that the parties relinquish their
 right to participate in a class action) in all types of consumer credit card
 and other loan agreements.
     This new Utah statute is important to all Utah lenders who use arbitration
 provisions in their consumer loan agreements.  Not only will the statute apply
 to class actions brought in Utah, it should also apply to class actions filed
 elsewhere whenever a valid contractual choice of Utah law provision has been
 included in the agreement.
     Jerry Oldroyd commented, "Given that Utah has dozens of large banks that
 extend consumer credit throughout the country, this is very significant
 legislation.  This statute will serve as significant protection against
 unnecessary and unwarranted class action suits."
     "Over the past several years, arbitration has proven to be the fairest,
 fastest and most cost-effective method of resolving consumer disputes.  No
 development has done more to change the legal landscape for the better than
 arbitration," observed Alan Kaplinsky, Chair of Ballard's Consumer Financial
 Services Group, who drafted the legislation and who is widely regarded as the
 nation's leading pioneer of consumer arbitration.
     Ballard Spahr Andrews & Ingersoll, LLP is an AmLaw 100 firm with more than
 460 lawyers in seven offices in the mid-Atlantic region and the western United
 States.  Ballard combines a national scope with strong local knowledge.  The
 firm's many practice groups provide cutting-edge representation for corporate,
 institutional, entrepreneurial, and individual clients.  Its Consumer
 Financial Services Group is one of the largest of its kind in the United
 States.  For more information on the firm, please visit our website at
 http://www.ballardspahr.com.
 
 

SOURCE Ballard Spahr Andrews & Ingersoll, LLP
    PHILADELPHIA, March 22 /PRNewswire/ -- Ballard Spahr Andrews & Ingersoll,
 LLP, is proud to have drafted important new legislation, Chapter 172, which
 was signed into law on March 15, 2006 and which will help banks and finance
 companies defeat class actions filed against them throughout the country.
 Ballard's Consumer Financial Services Group developed and promoted the
 legislation, and Jerry Oldroyd, in the firm's Salt Lake City office,
 shepherded its enactment through the Utah Legislature with almost unanimous
 support in just a few weeks.
     (Photo: http://www.newscom.com/cgi-bin/prnh/20060322/NYW137-a
             http://www.newscom.com/cgi-bin/prnh/20060322/NYW137-b )
     The new statute is the first in the nation that validates class action
 waivers (i.e., language in a contract saying that the parties relinquish their
 right to participate in a class action) in all types of consumer credit card
 and other loan agreements.
     This new Utah statute is important to all Utah lenders who use arbitration
 provisions in their consumer loan agreements.  Not only will the statute apply
 to class actions brought in Utah, it should also apply to class actions filed
 elsewhere whenever a valid contractual choice of Utah law provision has been
 included in the agreement.
     Jerry Oldroyd commented, "Given that Utah has dozens of large banks that
 extend consumer credit throughout the country, this is very significant
 legislation.  This statute will serve as significant protection against
 unnecessary and unwarranted class action suits."
     "Over the past several years, arbitration has proven to be the fairest,
 fastest and most cost-effective method of resolving consumer disputes.  No
 development has done more to change the legal landscape for the better than
 arbitration," observed Alan Kaplinsky, Chair of Ballard's Consumer Financial
 Services Group, who drafted the legislation and who is widely regarded as the
 nation's leading pioneer of consumer arbitration.
     Ballard Spahr Andrews & Ingersoll, LLP is an AmLaw 100 firm with more than
 460 lawyers in seven offices in the mid-Atlantic region and the western United
 States.  Ballard combines a national scope with strong local knowledge.  The
 firm's many practice groups provide cutting-edge representation for corporate,
 institutional, entrepreneurial, and individual clients.  Its Consumer
 Financial Services Group is one of the largest of its kind in the United
 States.  For more information on the firm, please visit our website at
 http://www.ballardspahr.com.
 
 SOURCE  Ballard Spahr Andrews & Ingersoll, LLP