Several recent announcements and articles in business and legal publications show that the litigation financing industry is getting stronger every day. Canada and Asia and Ireland are beginning to see large investments in law firms as well.
Quite a few prominent Biglaw bankers have come out of retirement to join litigation finance companies and the giant in the space, the world’s largest provider of arbitration and litigation finance, recently announced it had $3.3 billion to lend to qualifying firms.
And even Airbnb is joining the club, financing the lawsuit brought by one of its New York City hosts against the city.
Stanley Carrol, Airbnb host, couldn’t afford to sue the city otherwise. He says the $30,000 in code enforcement fines he has received are retaliatory for speaking out in favor of the home sharing company and short-term home rentals. But without Airbnb’s financial support, Carrol would not have been able to hire an attorney and file motions and do research.
Personal injury and mass tort attorneys sometimes face a similar problem: In order to make their case, they need to hire an investigator or they need to fly an expert who will testify. At the very least, they need to pay filing fees and court costs. Attorneys and claimants alike need cashflow to keep cases afloat. Litigation financing provides real legal solution option to those who cannot afford long, drawn out or expensive cases.
The growth in the legal financing industry is driven entirely by need. But not everybody qualifies with the Big Law lenders who most often look over the smaller or mid-sized firms that need this kind of litigation funding the most.
Enter Elevant Finance. With loans starting at $250,000, you can help keep a case humming along without selling your rights to the entire judgement. We work with you to make it a win-win-win situation for both the attorney(s), the claimant and our investors.
Call us today to see how we can help you.