Burford Capital Limited Burford Capital Releases 2022 GC Survey Results
02 November 2022 - 12:23AM
RNS Non-Regulatory
TIDMBUR
Burford Capital Limited
01 November 2022
FOR IMMEDIATE RELEASE
New research reveals growing business impact of in-house lawyers
and legal departments as they increasingly generate cash
recoveries
69% of GCs say identifying new ways to add value is the most
important means by which they can contribute to company success-and
affirmative litigation recoveries have a role to play
New York City, November 1, 2022 - Burford Capital, the leading
global finance and asset management firm focused on law, today
releases new independent research based on a survey of 300 GCs and
heads of litigation in the US and UK that demonstrates the
transformative way that GCs view legal department impact. GCs seek
to add value to the business, and affirmative litigation recoveries
play an increasingly important role. GCs also see a role for their
law firm partners and for legal finance, especially in relation to
fostering innovation and providing support for affirmative recovery
programs.
Christopher Bogart, CEO of Burford Capital, said: "Burford's
latest independent research shows that GCs are determined for the
legal department to increase their business impact. Legal finance
can help them, and the research shows that GCs are increasingly
open to cost- and risk-sharing with third parties and that law
firms need to be ready to talk to clients about this solution."
Among the core findings of the research:
-- GCs are ambitious for the legal department's impact in
generating liquidity and transcending its traditional understanding
as a cost center.
o Over half (54%) say the legal department is understood to add
value to the business by pursuing recoveries through litigation or
arbitration.
o An even larger majority (69%) say identifying new ways to add
value to the business is the most important means by which in-house
lawyers can contribute to the success of the company.
-- Still, many see opportunities to do more, specifically in
adding value through meritorious affirmative recoveries.
o Over half of those surveyed (51%) say they need to build
infrastructure and process to add value through meritorious
affirmative recoveries.
-- GCs expect law firms to be ready to provide guidance on value generation.
o A solid majority (65%) say that receiving guidance from law
firm partners about opportunities to innovate or add value to the
business is one of the most important factors in individual GC
success.
o Six in ten say either that their panel litigation firms have
spoken to them about legal finance in the last five years or that
the firm's doing so would have contributed to the company
success.
-- Legal finance is poised to play an increasingly important role in GC success.
o GCs see a role for legal finance, especially in relation to
their affirmative recoveries.
o Just under a third of GCs (27%) say their companies have used
legal finance.
o Similarly, almost six in ten say either that they reviewed
legal finance partners in the last five years or that doing so
would have contributed to the company's success.
The 2022 GC Survey can be downloaded on Burford's website, where
full results are also available. The research report was conducted
in June 2022 by GLG via an online survey, with responses from 300
US and UK GCs, heads of litigation and other senior in-house
lawyers responsible for their companies' commercial litigation.
END
Contact:
David Helfenbein
Vice President, Public Relations
dhelfenbein@burfordcapital.com , +1 212 235 6824
About Burford Capital
Burford Capital is the leading global finance and asset
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 New York Stock Exchange (NYSE: BUR) and the London Stock
Exchange (LSE: BUR), and it works with companies and law firms
around the world from its principal offices in New York, London,
Chicago, Washington, DC, Singapore, Sydney and Hong Kong.
For more information, please visit www.burfordcapital.com .
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy any ordinary shares or other
securities of Burford.
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