Law firm challenge
A major law firm—and one of the best trial lawyers in the US—was representing a corporate client with a significant claim at stake. The case had gone on for quite some time with the client paying the firm’s fees, but the case had become expensive and the client faced liquidity challenges. The law firm simply did not do contingent fee arrangements and the client and law firm were on the verge of needing to part company over fees.
Burford legal finance solution
Burford came into the case six months before trial and provided investment capital that enabled the client to pay the law firm’s arrears and take the matter to trial, where the jury returned a verdict of well over $100 million.
Legal finance impact
With Burford’s capital, the law firm was made whole and the client obtained justice using the lawyers of its choice. Without Burford’s capital, the case would likely have gone to another firm on a contingency fee basis—which, given the late timing, would be less certain to achieve as good a result. The original law firm would likely have been forced to write off the fee arrears.