In-house counsel should take note of the recent financing of a litigation claim as a way to add value to their company, according to general counsel Melissa Sobel of Burford Capital.
Finance provider Burford said Tuesday that it loaned $15 million to the U.K. power company Rurelec in a 2012 arbitration claim against the government of Bolivia, which had seized one of its power plants. By offering to pay Burford a contingency award based on the value of the claim as well as to repay the loan, Rurelec was able to obtain a lower interest rate than was possible elsewhere.
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