WTJX-Analyze This

Today, the VI Justice Initiative appeared on WTJX-Analyze This hosted by Neville James to discuss our Executive Director, Casey Payton's presentation at the Virgin Islands Bar Association Annual Meeting. The presentation was on Interest On Lawyer Trust Accounts (IOLTA) as a funding mechanism that has the ability to transform Access to Justice in the Virgin Islands to provide millions of dollars in resources for civil legal services. 

Casey is a board member of the Virgin Islands IOLTA Board. An Interest on Lawyer Trust Account is a lawyer trust account that earns interest from the bank. The U.S. Supreme Court in Brown v. Legal Foundation of Washington, 538 U.S. 216 (2003) determined that neither lawyers nor clients have a right to the interest earned on lawyer trust accounts. Since 1981, IOLTA has generated over $4 billion in revenue throughout the United States and this money is used to support civil legal services for people who cannot afford an attorney. Casey's presentation for the VI Bar Association explained that IOLTAs can double their impact through additional funding sources including settlement agreements, cy pres from class actions, and unclaimed funds at the Court.

To listen to the podcast episode, click here.