Matt Lee of Burford explains how the new ACICA Arbitration rules impact legal finance in Australia, including a rule that clients can now use funding to remove not only the downside cost of legal fees, expenses and adverse costs, but also third-party funding costs that would otherwise be paid out of any award in a successful case.
New research commissioned by Burford Capital demonstrates that companies that choose not to opt out of a class action proceeding do so for economic reasons, and that companies with large claims stand to recover more and can preserve their budgets by using legal finance as part of their opt out strategies. The research also shows that companies already using legal financing are opting out three times more often than their competitors.
Jordan Licht has been appointed as Chief Financial Officer of Burford Capital. Mr. Licht was previously the Chief Operating Officer of both Caliber Home Loans and Newrez LLC. He replaces Ken Brause, who becomes a Senior Advisor to Burford and will assist in the CFO transition.