TIDMBUR

Burford Capital Limited

08 February 2022

FOR IMMEDIATE RELEASE

New research on affirmative recovery programs reveals opportunity for legal departments to add value

Three of five GCs interviewed say their companies neglected to pursue meritorious recoveries

"We don't leave a dime on the table," says one GC

New York City, February 8, 2022 - Burford Capital, the leading global finance and asset management firm focused on law, today releases new independent research demonstrating that companies can unlock value in their legal departments through more systematic affirmative recovery programs.

As revealed by extensive one-on-one interviews with over 50 general counsel, heads of litigation and other senior legal leaders at major corporations globally, most companies have affirmative recovery programs to recover money for the business by pursuing meritorious litigation and arbitration claims when their companies are harmed. Still, many see room for improvement, with those with more systematic affirmative recovery programs showing the benefits of doing so.

Christopher Bogart, CEO of Burford Capital, said: " Our latest independent research is consistent with my own prior experience as a GC. Done right, affirmative recovery programs can transform in-house legal departments from cost centers to revenue generators, greatly enhancing the commercial standing of senior legal leaders in their companies.

"GCs benefit from hearing from their peers and from having the right tools and partners. In that spirit, we hope this new research helps companies and law firms alike realize the value of affirmative recovery programs in maximizing corporate value, and that by adding legal finance to the mix, they can greatly increase certainty around their litigation budget and cash flows."

Key findings from the research include:

 
 
   *    Affirmative recovery programs are expanding but are 
        still rarely robust. 
              o Affirmative recovery programs are increasingly common, with 
               two of three GCs, heads of litigation and other senior in-house 
               lawyers interviewed saying that their companies have an affirmative 
               recovery program. However, only a few legal leaders say their 
               programs are robust. 
 
                              *    Three of five GCs interviewed say their companies 
                                   neglected to pursue meritorious recoveries. 
 
                              *    Half of all GCs interviewed would exchange some 
                                   upside on pending claims in exchange for removing 
                                   costs and downside risk of loss. 
              o Senior in-house lawyers recognize that when they do pursue 
               affirmative recoveries, new tools to increase certainty and 
               manage costs will lead to better results. 
 
                              *    Three of five GCs interviewed say quantitative 
                                   financial modeling would be advantageous to 
                                   affirmative litigation recoveries. 
 
 
 *    Legal finance has a role to play. 
 
              o In-house lawyers whose companies use legal finance consistently 
               say their companies have robust affirmative recovery programs 
               that meet their needs. 
              o Senior in-house lawyers admit to varying levels of knowledge 
               about legal finance, but many are hungry for more information-and 
               many remain unsure about how it works. 
              o Reputation and experience top in-house lawyers' priorities 
               when selecting legal finance partners. 
 
 
 
        *    More systematic affirmative recovery programs benefit 
             organizations, teams and leaders. 
              o Interviews with senior in-house lawyers suggest that more 
               effective affirmative recovery programs benefit the overall 
               enterprise, elevate legal within the organization and earn 
               credit for legal teams for innovation and cost and risk management. 
 
 
 
        *    Key quotes from the report: 
              o "Everything about what I do is about the value that the legal 
               department generates for the company, so new creative ways 
               of generating revenue and reducing risk is very appealing." 
               (GC, multinational logistics company) 
              o "If you are on the plaintiff's side, you can finance your 
               claims through a legal finance company if the business does 
               not want to lay out the expenses, which is great. The lawyers 
               need to understand that this option is available." (GC, capital 
               market company) 
              o "My peers are speaking about claims as assets, which was 
               not part of the conversation five years ago." (Head of litigation, 
               multinational retail corporation) 
              o "We don't leave a dime on the table." (GC, capital market 
               company) 
        o "In the last five years, we have probably recovered over 
         $1 billion in settlements or other recoveries." (Group GC, 
         privately held construction company) 
 

The 2022 Affirmative Recovery Programs Report can be downloaded on Burford's website. The research report is based on 1:1 interviews conducted by phone with 52 general counsel, heads of litigation and other senior in-house lawyers with direct responsibility for their companies' commercial litigation and arbitration. The interviews were conducted between October and December of 2021 by Ari Kaplan Advisors.

END

Contact:

David Helfenbein

Vice President, Public Relations

dhelfenbein@burfordcapital.com , +1 212 235 6824

About Burford Capital

Burford Capital is the leading global finance and asset management firm focused on law. Its businesses include litigation finance and risk management , asset recovery and a wide range of legal finance and advisory activities. Burford is publicly traded on the New York Stock Exchange (NYSE: BUR) and the London Stock Exchange (LSE: BUR), and it works with companies and law firms around the world from its principal offices in New York, London, Chicago, Washington, DC, Singapore and Sydney.

For more information, please visit www.burfordcapital.com .

This communication shall not constitute an offer to sell or the solicitation of an offer to buy any ordinary shares or other securities of Burford.

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February 08, 2022 10:09 ET (15:09 GMT)

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