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    Howe Stensgaard 發表更新 8 年, 2 月前

    Myths About Lawsuits Finance

    If you’re not familiar with how lawsuit finance works, you should fix that – fast. Litigation finance is growing drastically in popularity and importance, and both litigators and transactional attorneys need to understand it – and what it indicates for the legal industry.

    Regardless of the boom in litigation finance in recent years, many legal and financial professionals don’t comprehend it as well as these people should. So it made sense which last week’s (great) conference on litigation finance, hosted by IMN, included a panel referred to as “Dispelling Myths and Misguided beliefs Surrounding Litigation Finance.”

    The panelists covered many misunderstandings about lawsuit funding. Here are five that minted me as particularly important.

    1. It’s merely for plaintiff-side work.

    It’s certainly accurate, as Lee Drucker of Lake Whillans Litigation Finance noted in an earlier panel, which most commercial litigation-funding firms focus on backing plaintiffs. However that’s changing, as several panelists mentioned.

    According to Owen Cyrulnik of Curiam Capital, litigation finance can offer defendants an advantage formerly enjoyed mostly by plaintiffs who hire contingency-fee firms: not having to pay a huge amount of money for a unsatisfactory result. As any litigator can tell you, the litigation process involves a lot of good fortune – and if you have catastrophe as a defendant, you can take a severe hit. By working with a litigation funder, Jay Greenberg of LexShares discussed, a defendant can offload or perhaps manage risk, at an initial phase of the process. (You might keep in mind Greenberg from his appearance on Forbes’s 30 Under 30 For Regulation and Policy list.)

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    This type of in advance certainty about the cost of a case is something that CFOs greatly enjoy – as opposed to a general counsel constantly returning to the CFO with negative updates about a litigation and asks for for more money. As William Evans of The company Capital Consultants pointed out, lawsuit finance becomes more and more desirable as legal costs increase and in-house lawyers face higher pressure from their fellow workers about out-of-control expenditures on outside counsel.

    2. The underwriting process is long, tortuous, and highly invasive when it will come to confidential information.

    The process of analyzing and funding a case can sometimes be accomplished in a matter of nights – literally. According to Jay Greenberg, LexShares was able to underwrite one case in merely ten days, from incoming call to deployment of capital.

    To be sure, that’s the different rather than the principle, and it’s more typical for underwriting to take days rather than times. But lawsuits financiers want to move quickly – which is the reason why they use experienced litigators, both in-house and outdoors counsel, to examine cases and reach quick decisions about their legal merits.

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    As for private information, the interplay among litigation finance and both attorney-client privilege and attorney work item is a complex and developing issue — so it’s hard to make any ensures, as noted by Joshua Meltzer of Woodsford Lawsuit Funding. But as a general issue, both lawsuits funders and fundees go to great lengths to safeguard attorney-client privilege and attorney work product. For example, form contracts used in the underwriting process will generally state in which the litigation investor does not want, and shall not receive, access to privileged information.

    For more information please visit

    Trimark Legal Funding LLC.

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