While the business community has been slower to embrace litigation financing than many in the industry have expected, Thursday’s announcement of a strategic partnership between Longford Capital and Quinn Emanuel Urquhart & Sullivan that advances at least $40 million to cover legal expenses for the latter’s private equity clients shows that certain firms are willing to be proactive in pushing greater acceptance of the tool.
It’s not easy to convince the C-suite to think of litigation as an asset as opposed to a cost center. But with recent examples of Big Law firms receiving nine-figure payouts from plaintiff-side cases, it’s no wonder firms are looking for opportunities to share the risk of pursuing high-value claims for corporate clients.
