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16 August 2017 at 13:55 BST

Woodsford offers litigation boutique innovative $20m financing deal

Woodsford Litigation Funding has signed a $20m global portfolio financing facility with litigation boutique Lewis Baach to offer clients an expedited, one-stop arrangement for the financing of high value litigation.

Steven Friel strikes innovative litigation deal

The deal covers matters in any jurisdiction around the world where Lewis Baach Kaufmann Middlemiss offer contingency fee arrangements and where funding is required for the additional litigation expenses, including expert witness fees, e-discovery costs and court and tribunal fees. The facility ensures that Lewis Baach can seek out and pursue meritorious claims that might otherwise flounder due to cost and uncertainty. The international arrangement between the two is also supported by Brazilian funder, Leste Litigation Finance. As part of a collaboration agreement announced in March, for any matters with a Brazilian element, Leste and Woodsford will coordinate funding jointly. Eric Lewis, senior partner of Lewis Baach, commented: 'This agreement provides not only financial resources to facilitate meritorious litigation, but also creates synergies of litigation judgment and sensible management that are beneficial to lawyers, funders and clients alike. We are excited about this new and exciting chapter in our relationship.' 

Hugely significant

Steven Friel, Woodsford’s CEO, commented on the arrangement: 'We have enjoyed a long and successful relationship with Lewis Baach, and I am delighted that we can continue to assist them and their clients in litigation and arbitration around the world. It is particularly exciting to close this deal within weeks of the opening of our new US office. We hope to announce similar deals very soon.' Mr Friel went on to say: 'This deal, announced so soon after the opening of our first US office is hugely significant for Woodsford. While single case funding and the provision of access to justice will always be important to us, the future of the industry is clearly going to be partnership deals of this nature between world-class firms and funders. The global nature of this arrangement  is further evidence that the future of litigation funding is international.'

Background

Woodsford Litigation Funding was founded in 2010, with offices in London and Philadelphia. It provides tailored litigation financing solutions for businesses, individuals and law firms including both single case and portfolio litigation funding and arbitration funding. Lewis Baach Kaufmann Middlemiss is a globally recognised litigation boutique specialising in international commercial and financial disputes, intellectual property issues with a focus on patent litigation, insurance and reinsurance advice and representation, financial compliance and white collar defense and investigations. 

 
   
 
 
 

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