Christopher Bogart of Burford Capital shares his thoughts on what’s ahead for the legal finance industry, predicting that near-term inflation, a potential recession and the need to preserve and enhance working capital will lead to more firms shifting costs and risks to outside legal finance providers.
The team at Burford explores the benefits of the going forward portfolio, including how it can help lawyers avoid having to turn down promising high value cases because their firms’ level of risk tolerance won’t accommodate the clients’ desired fee structure, particularly in areas like international arbitration, where even affluent clients increasingly expect that firms will share the risk.
Burford has shared that it is modifying its fair value approach following a six-month review by the US Securities and Exchange Commission (SEC) into how Burford values its legal finance assets.
Sysco has sued affiliates of Burford for allegedly meddling in the food distributor’s efforts to settle several major antitrust cases in which it’s a plaintiff, while Burford argues that Sysco has breached the funding agreement by assigning some of the claims, giving Burford the right to veto the settlements.
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