Wednesday morning Willkie Farr & Gallagher and litigation funder Longford Capital Management jointly announced a $50 million “funding agreement” that they say is poised “to provide equity capital to fund attorneys’ fees and litigation costs, and to monetize the value of meritorious legal claims for Willkie’s clients” in business-to-business disputes. Longford also announced that Willkie litigator Craig C. Martin, the firm’s Midwest chair, will join its board of independent advisers.
Just how the agreement would play out was a matter of some curiosity, speculation and skepticism within the litigation industry Wednesday. Reactions we heard from the half dozen industry insiders the Litigation Daily spoke with ranged from “meh” to “yeah.” Some pointed to similar-sized deals announced abroad and domestic investments hinted at in the securities filings of publicly traded litigation funders. Others, meanwhile, expressed enthusiasm that an Am Law 50 firm would openly tout its relationship with a funder, especially as there’s a push on to force disclosure of funder involvement in cases in some venues.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
