Latest Burford Capital Research Points to Strong and Sustained Growth of Litigation Finance
06 September 2017 - 6:00PM
Business Wire
2017 Litigation Finance Survey shows
double-digit growth since 2016
Burford Capital (“Burford”), a leading global finance firm
focused on law, today announced the results of its 2017 Litigation
Finance Survey of lawyers and financial professionals at law firms
and companies in the US, UK and Australia. The independent research
builds on prior surveys commissioned by Burford to study
third-party funding of commercial litigation and arbitration.
Burford’s 2017 Litigation Finance Survey shows that litigation
finance continues to achieve dramatic growth and now is an accepted
reality of the legal landscape:
- Use of litigation finance in the US
grew by 28% from last year, to 36%, and has grown 414% since
2013.
- Among respondents in the US, UK and
Australia, a majority of users (59%) say their use of litigation
finance has increased in the last two years.
- A strong majority (72%) of all
respondents agree that litigation finance is a growing and
increasingly important area of the business of law—and, notably,
40% of US companies report having foregone claims due to the cost
of litigation.
- Pointing to continued growth on the
horizon, among all respondents whose organizations have not yet
used litigation finance, a majority of law firm respondents (57%)
and nearly half of in-house respondents (49%) are likely to
consider its use in the next two years.
- Some early concerns about litigation
finance have evaporated. For example, in the US, the number of
in-house respondents with concerns about litigation finance leading
to unnecessary litigation fell to 10% from 81% five years ago.
Among all respondents, ethical concerns rank dead last among
obstacles to use, at 9%.
- Only 7% of all respondents are
unfamiliar with litigation finance, and only 4% of law firm
respondents.
Christopher Bogart, Burford’s CEO, commented: “Burford’s latest
research affirms our own experience: More and more often, clients
and law firms are turning to litigation finance as a solution to
some of the intractable challenges and pressures of managing legal
cost and risk, and that strong demand is driving dramatic
growth.”
Burford’s 2017 Litigation Finance Survey was conducted by ALM
Intelligence, the research arm of ALM Media, publisher of The
American Lawyer, from May 17 to June 16, 2017. The full report is
available online.
About Burford Capital
Burford Capital is a leading global finance and investment
management firm focused on law. Its businesses include litigation
finance and risk management, asset recovery, and a wide range of
legal finance and advisory activities. Burford is publicly traded
on the London Stock Exchange, and it works with law firms and
clients around the world from its principal offices in New York,
London and Chicago. For more information about Burford:
www.burfordcapital.com
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US:The Neibart GroupEmma Murphy, 718-875
4545emurphy@neibartgroup.comorUK/Europe:PHA MediaNeil McLeod, 020
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