The headlines in legal trades suggest that some law firms are facing major liquidity challenges due to the downturn and clients being slow or unable to pay their legal bills. In fact, in March The American Lawyer reported that Citi Bank’s legal group saw a 600 percent increase in law firms requesting to increase their credit lines compared to the same time last year.
Burford Insights: How can law firms generate liquidity now?
Burford's Christine Azar, Director with responsibility for building the business with US-based law firms and companies, has been recognized as a leading litigator by numerous organizations. In this video, she explains how law firms can generate liquidity including:
- Whether law firms should be thinking about a short-term solution or something more systemic
- The trends towards law firms taking more plaintiff-side litigation on contingency
- The most effective ways that law firms use legal finance to solve liquidity problems in a downturn