Aligning Litigation and Finance Teams To Reduce Expenses and Enhance Liquidity
Research suggests that while two of three GCs say their companies have affirmative recovery programs, nearly half see room for improvement. Importantly, those that use legal finance to reduce the cost and risk of their affirmative recovery programs tend to see better results.
February 10, 2022 at 02:00 PM
10 minute read
New research confirms that litigation and finance teams have an important—and growing—area of current and potential alignment: affirmative recovery litigation programs. In-depth interviews with more than 50 general counsel, heads of litigation and other senior legal leaders at major corporations around the world confirm a strong desire to collaborate across functions—specifically by taking a more systematic approach to affirmative recovery programs. This recent research builds on earlier research with CFOs and senior finance professionals that also emphasized this opportunity and desire to join forces. The research contradicts unhelpful stereotypes that emphasize the potential for conflicts between these teams based on the assumption that the litigation team tends to grow the expense line and that the finance team tends to seek to shrink it—when in fact, they can work together on affirmative recovery programs not only to reduce expenses but also to enhance liquidity.
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