The Rising Cost of Due Diligence: California Courts May Increase Copy and Retrieval RatesJune 14, 2013 UCC, Corporate, Due Diligence
The Sacramento Bee ran an interesting piece last week which discusses California Governor Jerry Brown’s proposal to double the per page copy cost for court documents from $0.50 to $1.00. If approved, the same proposal would authorize California courts to charge a $10.00 fee for the clerk to retrieve a case file. The article raises some good questions about the availability and affordability of public records to the media and to the disadvantaged.
Read the article, “Media access to court documents: Priceless” here.
First Corporate Solutions is concerned about the effect these increases could have on project costs for lenders as they attempt to satisfy due diligence requirements. A $10.00 retrieval fee per case could certainly drive up due diligence costs, particularly when dealing with a common name.
What are your thoughts? Are you concerned about potentially rising court search costs in California?