Credit: Jason Doiy/ALM Litigation Funders' Pitch to Corporate Litigants: Turn Your Lawsuit Into an Asset
A $40 million agreement between Quinn Emanuel and Longford Capital illustrates how law firms are seeking to make third-party finance more appealing to their clients.
April 12, 2024 at 05:00 AM
5 minute read
Litigation Funding
The original version of this story was published on The American Lawyer
What You Need to Know
- Quinn Emanuel will receive $40 million from Longford Capital to pursue cases on behalf of private equity clients.
- Leaders at both firms said the strategy is to cater to a client base facing outsized impact on valuation from costly lawyer fees.
- One vehicle funders use to turn a company's lawsuits into an asset is the monetization of claims before a settlement.
While the business community has been slower to embrace litigation financing than many in the industry have expected, Thursday's announcement of a strategic partnership between Longford Capital and Quinn Emanuel Urquhart & Sullivan that advances at least $40 million to cover legal expenses for the latter's private equity clients shows that certain firms are willing to be proactive in pushing greater acceptance of the tool.
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