Litigation Finance Not Backing Down
Litigation finance is an innovative and relatively new player in the US legal market (it's more longstanding in Australia and England), but it's getting more entrenched and accepted. Some of the biggest groups in the US funding game are Juridica and Burford (which grew last year despite investing in the Chevron litigation that entangled Patton Boggs). Another firm, Bentham IMF, was founded in Australia in '01 but opened a US subsidiary a few years ago. It announced this week that it picked up six lawyers from around the country to act as an "advisory panel."
At the first annual panel meeting, here's Bentham IMF managing director Charlie Gollow, counsel and investment manager Allison Chock, and a panel member, Sidley Austin complex commercial litigation co-chair Peter Ostroff. Other advisors—who'll provide strategic support about investments and help change negative images some in the legal community have of litigation finance—are DC-based Peter Gillon, Reed Oslan, Roman Silberfeld, Stephen Susman, and Bradley Wendel. The panel will also help broaden the firm's portfolio, which since '01 has had a 95% success rate and generated almost $1.5 billion in recoveries.