Lake Whillans

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Lake Whillans and Above the Law have published their annual survey on litigation finance, which demonstrates that an increasing number of law firms and their clients view litigation funding as a valuable resource, with a majority of lawyers having experience working with a litigation finance firm, and almost all lawyers with prior experience indicating that they would turn to litigation funding again themselves.
Lake Whillans shares the highlights from its annual survey of in-house counsel and law firm attorneys, noting that a majority (62%) of the lawyers surveyed have firsthand experience working with a litigation finance firm, up over 20% from four years ago in 2022 Litigation Finance Survey Report.
Marla Decker of Lake Whillans reports that in a recent case, the Delaware Supreme Court has allowed the full amount of the contingent attorneys’ fees (which were one-third of the damages awarded and amounted to nearly $20 million) to be shifted to the non-prevailing party based on a contractual fee-shifting provision and argues that the logic in this and similar cases could extend to the recovery of litigation finance costs under the “costs” prong of a fee-shifting provision.
Lake Whillans and Above The Law have released the results of their fifth annual litigation finance survey which shows that, among other things, firms with 500+ attorneys have the smallest proportion of firsthand experience with litigation finance, and across the board respondents practicing in the telecommunications and technology industries reported the most firsthand experience.
Marla Decker of Lake Whillans summarises the results of a recent survey which indicates that economic terms are by far the most important factor lawyers consider when selecting a litigation funder, though she stresses that savvy claimholders and counsel should also ensure alignment on other dimensions besides cost.

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