Christopher Bogart, Ceo Of Burford Capital

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Christopher Bogart, CEO of Burford Capital, a leading capital provider to the global legal industry, sat in his illustrious office on Madison Avenue in New York City. Prior to joining Burford Capital, Christopher spent more than 20 years working at Time Warner, including as the Executive Vice President & General Counsel. On one side of his desk sat a report on the spectacular rates of return of Burford Capital’s investments. On the other, sat a report describing the growth of contingency fee litigation. Christopher knew Burford Capital had a track record of stellar returns, but he worried perhaps that was about to change. Christopher knew that Fortune 500 companies increasingly were encouraging law firms to help underwrite cases and as law…show more content…
In 2011, three of the largest firms involved in commercial litigation lending were Burford Capital, Bentham IMF, and Juridica Investments. All three were publicly traded on foreign exchanges, and each invested heavily in the United States civil justice system. How the Litigation Finance Market Worked Non-recourse loans were extended most often to plaintiffs in personal injury cases. These loans were used to pay the costs of litigation, but, in some cases, were also used to cover the plaintiff 's living expenses during the pendency of the lawsuit. Non-recourse financing of commercial claims came into existence in the 2000s and became increasingly common. The providers of this financing typically undertook an analysis of the merits of the contemplated claim that was more rigorous than the analysis employed in personal injury cases. If the claim appeared meritorious, the financing company advanced amounts to cover attorney’s fees and the other costs of the litigation. These advances typically were made to the claimant or its outside litigation counsel, in return for a percentage of any eventual recovery. The recent trend in the use of non-recourse litigation financing attracted increasing attention, both within and outside the legal profession, in part because the arrangements were largely unregulated, and required the payment of relatively large financing fees. Another key reason it attracted attention was its

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