King & Spalding hit with legal malpractice case, suit alleges ‘gross overpayment’ of fees in funded case

A Netherlands man is suing global law firm King & Spalding for more than $1 million, alleging a gross overpayment in fees in a case funded by Burford Capital. The suit states that “this case illustrates what happens when attorneys, retained by a client to represent that client in arbitration, decide instead to represent their own pecuniary interests and those of a third-party funder and to make a mockery of the fiduciary obligations an attorney owes to their clients.” More from Southeast Texas Record.

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Funder News

Exton Advisors welcomes Lucy Glyn as a new director

UK-based Exton Advisors, a specialist litigation finance and insurance advisor business, welcomes Lucy Glyn as a Director starting this new year. Formerly a private equity transactional lawyer from the ‘Magic Circle’, she has held senior strategy roles within the legal market and, latterly, in litigation finance, where she led on European corporate strategy at Burford Capital.

Funder News

Burford Capital hires arbitration expert and legal finance industry veteran Mick Smith for senior European role

Burford Capital, the leading global finance and asset management firm focused on law, announced that arbitration expert and legal finance industry veteran Mick Smith has joined as Principal in its London office. He will join over 40 colleagues in London, and more than 140 globally. Smith will focus predominantly on the continued expansion of Burford’s business in Europe and especially its industry-leading role in global arbitration matters.

Insights

Litigation Finance Companies Eye Law Firm Ownership in Arizona

Burford Capital and Longford Capital Management executives say that Arizona’s loosening of legal industry regulations opens the door for them to co-own law firms. They predict that with Arizona no longer requiring lawyers to own firms—and other states considering similar steps—law partners will increasingly consider the benefits of non-attorney ownership stakes. 

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