Sell the claim, or pursue it?Six structures, according to the objective.
Most clients come to us to sell. Sometimes, however, the better course is to retain the upside and shed only the cost, and sometimes what is lacking is not merit but liquidity. The underwriting standard is the same whichever structure applies.
Claim Acquisition & Non-Recourse Funding
Exit at signing
Where a debtor will not pay and the claimant would rather not bear the cost or the wait, we acquire the claim at an agreed price, paid at signing. Every subsequent cost, security obligation and adverse outcome is ours.
The claimant gives up part of the possible upside in exchange for certainty: no further fees, no adverse-costs exposure, no three-to-five-year wait. For an award or receivable that has remained unpaid for years, it is often the cleanest resolution available.
Before acquisition, each risk is priced separately: merits, the debtor’s solvency, the location of attachable assets, likely duration, and the friction in each jurisdiction. After acquisition, our balance sheet and managed funds meet every cost, and we instruct counsel. Recoveries above an agreed threshold are shared with the assignor.
Single-Case Funding
Non-recourse
For claimants who wish to retain conduct of the case and its upside without bearing its cost. We meet counsel’s fees, experts, institutional fees and security for costs. If the claim fails, nothing is repayable.
We are paid only out of what is actually recovered, and only in the agreed priority. The cost of the dispute leaves the P&L, stays out of working capital and never appears as debt.
The ideal point of engagement is before filing, although we consider matters mid-proceeding and on appeal. Three questions govern the decision: whether the legal case holds, whether the outcome can be enforced, and whether the timetable can be controlled.
Portfolio Funding
Priced as a book
Several claims, none of which quite stands alone. Priced as a book, a loss on one is absorbed by recoveries on the others, and the terms improve accordingly.
A firm can finance its contingency book to take on more work and smooth its cash flow without giving up partner equity. A corporate group can treat related disputes in several jurisdictions as a single facility.
Because a loss on one matter is absorbed by recoveries on the rest, a claim we would decline on its own can work inside a portfolio.
Judgment & Award Enforcement
Judgment is not payment
The award is in hand; payment is not. We fund enforcement in full, trace assets through shareholders and offshore structures, and seek recognition where the assets actually are.
Judgment is not payment. Debtors routinely move assets into layered structures, into nominees’ names or into another country. We fund the recognition and enforcement effort in full, and coordinate local counsel, investigators and valuers in following them.
Our enforcement channels cover New York Convention states, the Mainland–Hong Kong reciprocal arrangements, and the Cayman, BVI and Jersey courts.
Law Firm Fee Financing
Liquidity before the outcome
The contingency work is done; the fee arrives only at conclusion. We monetise that receivable now.
What limits a contingency practice is usually cash flow, not merits. We finance the receivable built into work in progress, so the firm can take bigger matters, add people, or offer clients more flexible fee terms.
Debt Restructuring & NPL Resolution
Special situations
In insolvency and distressed debt, value often sits in recovery actions no one is able to fund. We fund them.
What a distressed asset is worth often depends on whether the recovery action succeeds, not on the asset itself. Working with audit, valuation and notarial partners, we fund litigation and enforcement for administrators and portfolio acquirers, and advise on the contested terms of a plan.
Structure follows objective
Where the choice is unclear, submit the file. The underwriting team proposes the structure; this is not a menu from which a selection must be made in advance.
| Where the objective is to… | Structure | Upside retained | Control retained |
|---|---|---|---|
| Take certain cash now and clear the balance sheet | Claim Acquisition & Non-Recourse Funding | No — assigned | Transferred |
| See one matter through without bearing the cost | Single-Case Funding | Yes | Yes |
| Pool several matters to dilute single-case risk | Portfolio Funding | Yes | Yes |
| Hold a favourable award that remains unpaid | Judgment & Award Enforcement | Yes | Transferred |
| Smooth contingency cash flow at the firm level | Law Firm Fee Financing | Yes | Yes |
| Pursue avoidance claims inside an insolvency | Debt Restructuring & NPL Resolution | Yes | Yes |
Indicative only. Control and upside allocation are set in the funding or assignment agreement and vary with the forum’s professional-conduct rules.
A written answer within fifteen business days.
Yes, no, or what would have to change for the answer to be yes. Each is worth having before another month of fees is incurred.