Dan Packel of the American Lawyer reports on the 2019 Litigation Finance Client Experience Survey.
The survey results, released Tuesday, show that 98% of law firm lawyers who had used litigation finance would do so again, while 93% said their experience was positive.
New York-based Validity and ALM surveyed a total of 330 attorneys—285 who work for corporate firms and 45 in-house counsel. Only 15% of respondents from firms acknowledged using third-party financing for any of their cases. But another 51% of these law firm attorneys said that they were open to taking advantage of litigation financing.
“For a long time, funding was thought of as a way to level the playing field and provide access to justice for individuals and smaller companies who did not have the same resources as the bigger guys,” Dave Kerstein, Validity Finance Chief Risk Officer, said. “More and more people are realizing that it’s also a helpful financial tool for corporations that are well-capitalized.”
To download the full survey: https://survey.validity-finance.com/2019-litigation-finance-client-experience-survey