In recent weeks the UK has seen a swathe of high-street staples go into, or reach the brink of, administration, as a consequence of the global pandemic.
With such devastation being wrought on businesses, Ellora says “minimising costs and realising value is more important than ever. If ever there was a time for lateral thinking and alternative solutions, it is now”, in a piece for World Finance.
With the government extending the easing of insolvency rules until March 2021, now is the time for businesses to explore how they might avoid insolvency. Changing how disputes are dealt with could help.
Ellora continues, “The key is a mindset shift towards viewing litigation as an asset rather than a drain on resources (some disputes can be worth tens if not hundreds of millions). Identifying, bringing and prevailing on these disputes can change the game completely, and the growing sophistication of the litigation funding market has provided support to companies when it comes to ensuring that value is realised from claims.”