Corporate,
Civil Litigation
Oct. 3, 2024
Understanding commercial legal finance for clients and lawyers
Legal finance promotes economic efficiency and fairness by leveling the playing field for claimants needing court access, despite criticism from insurers and repeat defendants.
Many Americans first learned about legal finance from a 2022 report on "60 Minutes." The story featured the bet-the-company case of Underwood Ranches, a Ventura pepper grower, against his longtime customer, the maker of Sriracha hot sauce. Underwood had won a $23 million breach-of-contract verdict at trial but faced the delay and uncertainty of Sriracha's appeal. Then it struck a deal with Burford Capital, a legal financier, to monetize $4 million of the judgment, receiving t...
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