Shifting costs from litigants and law firms to finance providers whose core business is managing and monetizing legal risk, is no doubt a reason why IP litigation was the most commonly requested type of financing from Burford last year.
In early 2018, Burford reached out to leading lawyers in Hong Kong and Singapore for their insights on legal finance in the region, and we have collected excerpts from their comments for this Q&A roundtable.
Tax legislation passed in December 2017 by the US Congress—the Tax Cuts and Jobs Act (TCJA)—has implications for firms and litigants considering legal finance.
Why are CFOs so often allergic to lawyers in general and litigators in particular? Some of the reasons are obvious—among them, the high cost of litigation and its inherent lack of predictability. Another is less obvious but, arguably, more important—and that is how legal fees and litigation claims are treated as an accounting and financial statement matter.
Among the most inefficient uses of capital by law firms is the way that most firms now pay for case expenses—that is, for all the experts, local counsel, discovery costs, tribunal costs and other non-time-based disbursements they must cover in order to bring commercial litigation and arbitration to fruition when they work on a fully contingent basis.
Over the past three years, the law has reinforced the protection under the work product doctrine of documents created in connection with litigation finance, or produced to litigation finance providers over the course of diligence and investment.
The number of unenforced judgments and awards remains virtually unchanged. But the tools available to judgment creditors are changing, and for the better.
Shepherd and Wedderburn’s Guy Harvey discusses law firm portfolio finance—and what it means for the industry
Shepherd and Wedderburn’s Head of Commercial and International Disputes shares his perspective on his firm’s innovative portfolio-based litigation finance arrangement with Burford—the first of its kind by a top 100 UK law firm and major litigation financier.
I’m of two minds about International Women’s Day. On the one hand, I welcome any celebration of women’s achievements. On the other, I believe such celebration is merited on the other 364 days as well—with a continuous and unrelenting focus on progress still to be made.
Outside financing is an ever-expanding reality of international arbitration, and it will continue to be essential in the year to come. As one of the world’s most respected global law firms put it in 2016, arbitration finance is “here to stay, and not just for small or cash-strapped claimants.”