Challenge: A public institution needed capital to pursue its claims
A public institution had meritorious contract and tort claims against contractual counterparties and other entities. It hired a well-regarded law firm that agreed to take some risk in the matter, but the expected litigation expenses and law firm fees were cost prohibitive given the constraints of the institution’s public budget—putting the client’s ability to be made whole at jeopardy.
Solution: $5 million in financing
Burford agreed to provide $5 million dollars to cover the cost of fees and expenses, effectively de-risking the law firm’s contingency. While conducting diligence on the matter, Burford recognized that the female junior partner serving as second chair would be taking over many of the case responsibilities for both cost management and client continuity purposes and talked to the client about The Equity Project.
Impact: Client kept its counsel of choice and a junior partner received origination credit
With Burford’s capital, the client was able to pursue the claim with its firm of choice. Inspired by its conversations with Burford about The Equity Project, it raised the issue of origination credit with its firm. As a result, the firm agreed that the female junior partner would share some origination credit for the matter. The client was excited about the prospect of having the junior partner share credit both because it would advance her career and would ensure she felt personally invested in the case.