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In-House Counsel, Firm Lawyers Expect the COVID-19 Recession Will Trigger a Litigation Funding Boom

“You’re talking about a staggering sum of money that’s waiting to be turned into cash and waiting to be financed and monetized,” said David Perla, co-chief operating officer at Burford Capital.

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Burford Capital employees Burford Capital employees, including the firm’s co-chief operating officers, David Perla (far left) and Aviva Will (immediately right of Fearless Girl statue) stand outside the NYSE after the finance and asset management firm began trading on the NYSE. Courtesy photo

The number of in-house counsel and private lawyers who reported that their companies or law firms were using litigation funding has increased by more than 100% in the past three years, according to a new study from litigation financier Burford Capital. 

Now, a majority of lawyers predict that legal finance will become “increasingly critical” as legal departments and firms look for ways to offset the financial toll of the COVID-19 pandemic and economic downturn, Burford found in a survey of 266 in-house counsel and 233 law firm lawyers.

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Phillip Bantz

Phillip Bantz

Phillip Bantz is a reporter for Corporate Counsel. Follow him on Twitter @PhillipBantz.

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