Christina Elson, Director of the Wake Forest Center for the Study of Capitalism, and Richard Levick bring together litigation finance experts Rebecca Berrebi of Avenue 33, Andrew Cohen of Burford, Leslie Perrin of the International Legal Finance Association,Tim Scrantom of Legis Finance and Ed Truant of Slingshot Capital, to discuss the past, present, and future of litigation finance.
Nearly 20 years ago, the first litigation funding concept was developed and marketed out of London. Designed as a way to capitalize litigation, it was first embraced by plaintiff law firms who are dependent largely upon often long delayed contingency fees.
Despite opposition from some business groups, the trend has grown astronomically and has been embraced in many countries, including heavily in the United States and even by corporations and the defense bar, to the point where many large law firms have developed their own funds. There are so many litigation funders now that the market has grown to a point where money is chasing litigation.
Where will this all lead? Will litigation funding revolutionize the practice of law beyond its already significant disruption? What are its impacts on legal strategies, outcomes and even settlement negotiations?