5 minutes with... Emily Tillett

Legal finance is a unique industry at the intersection of law, finance and strategy which is challenging and impactful. Burford stood out to me for two reasons: First, its reputation as a market leader that has shaped the industry globally and is involved in some of the world’s most high profile and significant cases. Second, it has a culture of innovation and collaboration. Burford isn’t just providing capital, it is solving problems creatively by combining legal expertise, financial acumen and strategic insights. Being part of a team that drives real outcomes for clients while helping to shape a growing industry in Asia particularly appealed to me. Having now spent over four years at Burford, I have witnessed first-hand how collaborative this work is. Our team is deeply invested in each case—it is great to be part of such a committed and talented team. 

The legal finance market is expanding in Asia, buoyed by supportive reforms in jurisdictions like Singapore and Hong Kong and growing demand in markets like India and South Korea. Asia’s high volume of international arbitration, large-scale and complex insolvency matters is fueling demand for legal finance—especially where cases commonly involve complex, multi-jurisdictional structures. Firms are becoming increasingly interested in portfolio-based finance to enable them to take on more risk and pitch for work in competitive markets. Law firms are under pressure to deliver the same quality of legal service for lower costs as clients look to reduce legal spend. Burford’s creativity and flexibility make it a great resource for both businesses and law firms, providing not only capital for legal fees and expenses but also assistance in monetizing existing legal assets like claims, judgments or awards.  

We are no longer in a world where legal finance is only for impecunious plaintiffs. Legal finance has evolved into a specialized form of corporate finance. Burford is increasingly working with companies that have large litigation budgets but want to offload duration risk associated with high-stakes, costly and protracted disputes (a feature of Asian jurisdictions). A number of our clients have come to us not because they need capital, but because of Burford’s experience and expertise in managing complex litigation as well as global investigation and enforcement. Clients increasingly expect their lawyers to advise them of the utility and benefit of legal finance so they can make an informed assessment of options in considering and assessing litigation, arbitration and enforcement strategy and risk. Many GCs are looking to their law firms to offer risk- and cost-sharing tools, including legal finance. Taking time to understand the benefits of a commercial approach makes sense for many businesses.   

Insolvency matters in Asia are generally complex. Pursuing claims against directors, auditors or advisors is costly and protracted, with most matters being high-stakes and rigorously defended. These matters often involve complicated corporate structures including offshore entities in the BVI, Cayman and Bermuda. There is often a China connection, with subsidiaries operating or assets located in China, which adds further complexity. This obviously adds to the risk profile of opportunities, slowing down recoveries and requiring a sophisticated understanding and coordination of cross-border disputes and enforcement strategies. Burford has been in Asia since 2015 and is experienced in managing insolvency cases involving offshore structures and dedicated asset recovery specialists. We collaborate closely with our counterparties in managing these complexities. 

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