9.7 C
Alba Iulia
Wednesday, August 12, 2020

Shepherd and Wedderburn introduces innovative financing package

Subscribe to our newsletter

We will never spam , sell or share your details

Law firm Shepherd and Wedderburn has introduced an innovative portfolio-based litigation finance arrangement in conjunction with Burford Capital, a global finance firm focused on law.

The substantial, multi-million pound portfolio financing arrangement provides flexible capital that Shepherd and Wedderburn may use to expand its ability to offer alternative fee arrangements to clients and grow the firm’s reach in commercial litigation and arbitration.

Similar portfolio arrangements have proved increasingly attractive to US law firms, including those practising in the UK. They enable law firms to manage cash flow better, reduce risk exposure and provide a competitive advantage in attracting new business.

Guy Harvey, Head of Commercial and International Disputes at Shepherd and Wedderburn, said: “This portfolio arrangement enhances our capacity to take on new matters on an alternative fee arrangement basis without adding risk to the firm. For clients, that makes us a more flexible and more competitive partner. We are pleased to be partnering with Burford, the clear leader in providing portfolio finance arrangements to law firms.”

Read more about Shepherd and Wedderburn here  [insert page=’shepherd-wedderburn-banking-team-enjoys-strong-year-93-4bn-worth-deals’ display=’link’]

Stephen Gibb, Chief Executive Officer at Shepherd and Wedderburn, said: “Shepherd and Wedderburn are delighted to embrace innovation that benefits our clients and therefore our firm.”

The portfolio combines current and going-forward commercial litigation matters. Capital is provided on a non-recourse basis. Burford will receive a portion of the proceeds from any litigation matters in the portfolio that succeed on a cross-collateralised basis. Because risk is diversified, Burford can offer more attractive pricing than on a single-case basis.

Craig Arnott, Managing Director of Burford in London said: “The UK legal market is changing and becoming increasingly competitive. Portfolio finance is an essential tool to help UK law firms be nimble and innovative to attract clients, and Burford is unmatched in our ability and our experience in portfolio finance for firms around the world. We are delighted that Shepherd and Wedderburn has taken a leadership position in the UK legal market in using portfolio finance to grow its business.”

15.8 ° C
16 °
15.6 °
93 %
90 %
19 °
17 °
15 °
16 °
16 °

Follow Us

Our Other Titles

ClearWater launches camera tracing technology to support...

SCOTTISH-headquartered ClearWater Hygiene has launched its new SMART stand to help pubs better control the spread of Covid-19. The unit, which includes an adjustable infrared...

Technology and software group rebrands

SYSTEMS integration specialist Servelec Controls has rebranded to Innovation Transforming Industry (ITI). The firm, which has an operations base in Aberdeen’s Bridge of Don, said...

Aberdeen Harbour hands out £4.3m contracts for...

ABERDEEN Harbour Board has issued further contract awards to the value of approximately £4.3 million, in support of the South Harbour Expansion Project. The awards cover...

Drilling firm announces new CEO

BORR Drilling has appointed Patrick Schorn as its new chief executive officer. He will take up the role from September 8, succeeding Svend Anton Maier...

More Articles Like This