Aaron Katz of Parabellum Capital LLC and Steven Schoenfeld of Dorsey & Whitney LLP Author Practice Note on Litigation Finance for Corporate Commercial Litigation
NEW YORK, March 7, 2012 /PRNewswire-iReach/ -- Aaron Katz, Principal of Parabellum Capital LLC, and Steven Schoenfeld, a Trial Partner at Dorsey & Whitney LLP in New York, have authored a Practice Note, "Litigation Financing: Commercial Claims as an Asset Class," that was published as the cover feature in the March 2012 issue of Practical Law Company's Practical Law The Journal. The Practice Note, which also is available on the Practical Law Company website, provides an overview of the growing practice of third-party litigation financing of commercial litigation. A primer on how external dispute financing functions in the US, the Practice Note examines some of the legal and business dynamics that have led to the development of this market, analyzes some of the typical situations when a company may benefit from third-party funding, and explains how funders evaluate litigation-related investments and structure their transactions. The Practice Note also gives corporate litigants practical guidelines to consider when pursuing external funding—including how to evaluate when funding may be appropriate; how to prepare for and navigate the application process; and how to address attorney-client privilege, confidentiality, and other ethical issues that may arise.
"Litigation finance offers corporations and other institutional litigants a range of risk-sharing funding options that can help businesses and their counsel reduce the risks and costs of litigation and access the value of illiquid litigation assets," said Mr. Katz. "Some of a company's most valuable assets can be commercial claims, and litigation financing can help a corporate plaintiff unlock the value embedded in claims that are otherwise too expensive to pursue due to budgetary constraints."
"Litigation financing can be an equally valuable solution for law firms and our clients," added Mr. Schoenfeld. "It can allow a law firm to take on more premium, partially outcome-dependent fee arrangements, while spreading the risk of doing so, and it can facilitate the client's retention and payment of counsel."
Read the Practice Note here.
About Parabellum Capital LLC: Parabellum Capital LLC (www.parabellumcap.com) is the leading specialty finance company dedicated to financing the business of law. It provides a variety of legal finance products and services to business, including funding affirmative commercial litigation claims and hedging risk in such situations. Its managers have been pioneers in the business of financing large-ticket commercial litigation in the U.S. market, building proprietary relationships and alliances with elite lawyers, developing sophisticated underwriting and deal structuring, and employing strategies that ensure utmost attention to ethical and legal considerations.
About Dorsey & Whitney LLP: Clients have relied on Dorsey (www.dorsey.com) since 1912 as a valued business partner. With more than 550 lawyers in 19 locations in the U. S., Canada, Europe and the Asia-Pacific region, Dorsey provides an integrated, proactive approach to its clients' legal and business needs. Dorsey represents a number of the world's most successful Fortune 500 companies from a variety of disciplines, including leaders in the financial services, investment banking, life sciences, securities, technology and energy sectors, as well as nonprofit and government entities.
About Practical Law Company: Formed in the UK in 1990 and in the US in 2009, Practical Law Company provides practical legal know-how to law firms, law departments and law schools. Through its team of expert attorney editors, PLC provides practical, up-to-date resources across major practice areas to help lawyers get up to speed quickly, save time and protect the bottom line. Learn more at http://us.practicallaw.com/ or via Twitter http://twitter.com/practicallawUS.
For copies of the Practice Note or to find out more about litigation finance for corporate commercial litigation, please contact:
Parabellum Capital LLC
880 Third Avenue, 11th Floor
New York, NY 10022
Phone: (212) 726-2641
Fax: (917) 284-6059
Steven R. Schoenfeld
Dorsey & Whitney LLP
51 West 52nd Street
New York, NY 10019
Phone: (212) 415-9341
Fax: (646) 417-7259
Media Contact: Aaron Katz Parabellum Capital LLC, (212) 726-2640, firstname.lastname@example.org
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SOURCE Parabellum Capital LLC
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