RCS - Burford Capital Ltd - Burford Capital Releases 2022 GC Survey Results

Burford CapitalAnnouncement

01/11/2022 13:30

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RNS Number : 9445E  Burford Capital Limited  01 November 2022

FOR IMMEDIATE RELEASE

 

 

New research reveals growing business impact of in-house lawyers and legal
departments as they increasingly generate cash recoveries

 

69% of GCs say identifying new ways to add value is the most important means
by which they can contribute to company success-and affirmative litigation
recoveries have a role to play

 

 

New York City, November 1, 2022 - Burford Capital, the leading global finance
and asset management firm focused on law, today releases new independent
research based on a survey of 300 GCs and heads of litigation in the US and UK
that demonstrates the transformative way that GCs view legal department
impact. GCs seek to add value to the business, and affirmative litigation
recoveries play an increasingly important role. GCs also see a role for their
law firm partners and for legal finance, especially in relation to fostering
innovation and providing support for affirmative recovery programs.

 

Christopher Bogart, CEO of Burford Capital, said: "Burford's latest
independent research shows that GCs are determined for the legal department to
increase their business impact. Legal finance can help them, and the research
shows that GCs are increasingly open to cost- and risk-sharing with third
parties and that law firms need to be ready to talk to clients about this
solution."

 

Among the core findings of the research:

 

·    GCs are ambitious for the legal department's impact in generating
liquidity and transcending its traditional understanding as a cost center.

o  Over half (54%) say the legal department is understood to add value to the
business by pursuing recoveries through litigation or arbitration.

o  An even larger majority (69%) say identifying new ways to add value to the
business is the most important means by which in-house lawyers can contribute
to the success of the company.

 

·    Still, many see opportunities to do more, specifically in adding
value through meritorious affirmative recoveries.

o  Over half of those surveyed (51%) say they need to build infrastructure
and process to add value through meritorious affirmative recoveries.

 

·    GCs expect law firms to be ready to provide guidance on value
generation.

o  A solid majority (65%) say that receiving guidance from law firm partners
about opportunities to innovate or add value to the business is one of the
most important factors in individual GC success.

o  Six in ten say either that their panel litigation firms have spoken to
them about legal finance in the last five years or that the firm's doing so
would have contributed to the company success.

 

·    Legal finance is poised to play an increasingly important role in GC
success.

o  GCs see a role for legal finance, especially in relation to their
affirmative recoveries.

o  Just under a third of GCs (27%) say their companies have used legal
finance.

o  Similarly, almost six in ten say either that they reviewed legal finance
partners in the last five years or that doing so would have contributed to the
company's success.

 

The 2022 GC Survey
(https://www.burfordcapital.com/insights/insights-container/2022-research-gc-survey-on-legal-finance/)
can be downloaded on Burford's website, where full results are also available.
The research report was conducted in June 2022 by GLG via an online survey,
with responses from 300 US and UK GCs, heads of litigation and other senior
in-house lawyers responsible for their companies' commercial litigation.

 

END

 

 

Contact:

David Helfenbein

Vice President, Public Relations

dhelfenbein@burfordcapital.com (mailto:dhelfenbein@burfordcapital.com) , +1
212 235 6824

 

About Burford Capital

Burford Capital is the leading global finance and asset management firm
focused on law. Its businesses include litigation finance
(https://www.burfordcapital.com/) and risk management, asset recovery and a
wide range of legal finance and advisory activities. Burford is publicly
traded on the New York Stock Exchange (NYSE: BUR) and the London Stock
Exchange (LSE: BUR), and it works with companies and law firms around the
world from its principal offices in New York, London, Chicago, Washington, DC,
Singapore, Sydney and Hong Kong.

 

For more information, please visit www.burfordcapital.com
(http://www.burfordcapital.com) .

 

 

This communication shall not constitute an offer to sell or the solicitation
of an offer to buy any ordinary shares or other securities of Burford.

 

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