Two real estate developers were engaged in a breach-of-contract lawsuit over a project. The plaintiff in the case, Gray Development Group, had been hit hard by the decline in the real estate market, and—with a trial date fast approaching—was at risk of losing its counsel of choice.
Burford legal finance solution
Gray’s lawyers introduced their client to Burford, which ultimately provided a $6 million infusion of capital. The financing bridged the gap between the firm’s hourly model and the client’s short-term budget issues, enabling Gray to bring its claim successfully to trial with its counsel of choice.
Legal finance impact
The financing arrangement paid off: Gray’s lawyers helped Gray secure a $110 million award from a jury that found the defendant in breach of contract, with the two parties later settling.