Litigation is more complex, time consuming and expensive than ever before.
Law firm clients are increasing the pressure on their legal departments to reduce legal spend, and yet there remains an expectation from company leadership that good claims should be pursued.
Law firms in turn are creating alternative fee structures for clients to reduce upfront payment of legal fees and share in the outcome of litigation, successful or otherwise, with their clients.
When law firms discuss the idea of funding with their clients, very often new opportunities for mandates emerge.
These types of discussions are increasingly common and we inevitable get involved with them. The outcome is always a more dynamic offering to the end client.
Examples of things we do
- Harbour can provide capital in exchange for a share of the proceeds if the claim is successful. This can apply a single case or a portfolio of cases.
- Harbour can acquire a claim or an award from a claimant in exchange for an upfront payment. Typically Harbour takes all the proceeds if the claim is successful.
- Harbour Underwriting can protect a claimant against the risk of adverse costs.
- Harbour can create a financing facility for a law firm to allow them to more widely offer damages-based agreements and contingency fee arrangements to their clients.
- Harbour can also offer options to the defendant to reduce their own side cost exposure and mitigate potential damages