Cash-flowing meritorious insolvency claims
In life and in litigation we can always be certain of at least one thing: uncertainty. The International Monetary Fund put out a warning at the end of July that the world economy was continuing to slow and take hits from “increasingly gloomy developments in 2022” including high inflation, the ongoing fallout from Russia’s war in Ukraine and the slowdown in China caused by repeated Covid lockdowns.
Nothing like good news…
Insolvency practitioners (IPs), lawyers, banks and other financial institutions have been predicting a wave of insolvency related litigation and it seems likely that this will come to pass at some point.
Many law firms carry significant work in progress (WIP) on insolvency disputes and further growth in this sector could see financial strains appear: Good cases may be turned away in such a scenario, which is far from optimal.
Alternative forms of funding will likely be more interesting than ever, as IPs and their lawyers seek to fund ways to progress meritorious claims on the best terms possible. Such agreements can involve protection from adverse costs risk, or insurance products to meet security for costs applications. They can also cover the costs of disbursements, as well as some or all of the work in progress for lawyers and the IPs.
On Wednesday 7th September, between 1300 and 1400, Bristol Law Society and Annecto Legal are offering a webinar to discuss the various funding options available to Solicitors and IP’s.
The discussion will focus on how funding solutions can used to offset all or part of your WIP exposure and cashflow risk in bringing claims. Options around third party funding, after the event (ATE) legal expenses insurance, and products aimed at own sides costs cover and security for costs requirements. We’ll also explore effective use of retainer agreements and the pros and cons of assigning claims.
Annecto Legal is a national broker of ATE insurance and a wide range of funding for insolvency litigation and arbitration claims. Annecto assist with smaller claims, mid-market and large-scale and complex cases. We offer free in-house training to both law firms and Insolvency Practitioners.
Contact Annecto Legal on 0800 612 6587 or call David Law directly on 07540 303035 or via email at firstname.lastname@example.org.