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Three Quarters of Law Firms Would Consider External Ownership

Three quarters of law firms would consider selling a percentage of their business to an external buyer, new research has revealed.

A survey of 200 law firm partners commissioned by Harbour, the world’s largest independent litigation funder and law firm lender, showed that 149 of the 200 partners surveyed said their firm would consider external ownership.

The most willing to sell a percentage were the firms with a turnover of between £5m and £10m with all those questioned saying their firm would consider it.

The next most willing to consider external ownership were firms with a turnover of between £50m – £100m (89%), £30m – £50m (86%) and £10m – £30m (79%).

Those least likely to sell were those with turnovers of £400m – £500m (22%) and £100m – £400m (48%).

Of those who said they would not consider external ownership, loss of control was most cited (51%) as the key issue that would need to be resolved before they would consider selling. Other factors included future partner compensation (47%), obtaining partner consensus (37%) loss of employees (33%) and loss of culture or ethos (31%).

The survey revealed that the vast majority of law firms are willing to consider using alternative funding in the next year to 18 months, though 83% of firms said they would consider using cash reserves or asking for increased investment from partners.

Popular forms of alternative funding included bank loans (82%), greater use of contingency fee or damages based agreements (DBA) (79%), credit or lending facilities from litigation funders (78%) and stock market listing/non-lawyer shareholders (77%).

Ellora MacPherson, Managing Director and Chief Investment Officer at Harbour, said: “These results show that the legal sector is well and truly open for investment from external sources. With 75% of law firms considering external ownership, it is a fascinating time in the market with the trend for mergers and acquisitions set to continue. Our survey shows this isn’t just the smaller firms, but also those with substantial turnovers.

“In addition, with law firms and their partners having weathered turbulent economic times during the pandemic, it is clear that many are looking at alternative forms of investment. At a time of high interest rates, specialist lenders to the legal sector, who understand lawyers and law firms, are well-placed to provide attractive finance options.”

Survey methodology

200 law firm partners were interviewed online by Censuswide between 05.07.2022 – 20.07.2022.

About Harbour Litigation Funding

Harbour Litigation Funding is the world’s largest independently owned litigation funder. Since launching in 2007, the business has been at the forefront of the growth and development of the global funding market.

Headquartered in London, the business funds cases across the globe ranging from one-off disputes valued from circa. £1m to portfolios of multi-million-pound cases. It also funds the growth of law firms by offering credit facilities and through equity investments.

Harbour is a founder member of the Association of Litigation Funders (ALF), a member of the International Legal Finance Association (ILFA) and the Commercial Litigators’ Forum.

Ellora Macpherson is managing director and chief investment officer.

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Announcements Commercial

International Legal Finance Association Adds Certum to Mark 30 Member Companies

By Harry Moran |

The International Legal Finance Association (ILFA), the only global association of commercial legal finance companies, announced that it has added its 30th member company to the association –Certum Group. 

Certum Group specializes in comprehensive alternative litigation strategies, such as litigation buyout insurance, judgment preservation insurance, litigation funding, class action settlement insurance, adverse judgment insurance, and claim monetization. The Texas-based Certum Group team includes litigation and insurance professionals along with risk mitigation specialists. 

“We are delighted to join ILFA and help it engage with policymakers interested in litigation finance,” said William Marra, a Director at Certum Group who leads the company’s litigation finance efforts. “Funding helps people and companies with strong legal claims get better access to the courts. We are excited to work with IFLA and ensure policymakers continue to encourage rather than restrict companies’ access to commercial legal finance.” 

“We’re delighted that Certum is joining ILFA’s growing membership”, said Rupert Cunningham, ILFA’s Global Director of Growth and Membership Engagement. “Certum already provides a lot of thought leadership on litigation funding and other matters, and they will make a great addition to ILFA’s work to support the sector in the US and globally.” 

About the International Legal Finance Association   

The International Legal Finance Association (ILFA) represents the global commercial legal finance community, and its mission is to engage, educate and influence legislative, regulatory and judicial landscapes as the voice of the commercial legal finance industry. It is the only global association of commercial legal finance companies and is an independent, non-profit trade association promoting the highest standards of operation and service for the commercial legal finance sector. ILFA has local chapter representation around the world. 

For more information, visit www.ilfa.com and find us on LinkedIn and X @ILFA_Official.

Announcements Commercial People Moves

Angeion Group Makes Significant Additions to its Board of Directors

By Harry Moran |

Angeion Group, a leading provider of legal notice and settlement administration services, today announced the addition of three independent members to its Board of Directors. This milestone underscores Angeion's strategic growth trajectory and commitment to strong governance, innovation, and operational excellence. 

The newly appointed board members are three highly accomplished executives whose leadership has shaped the modern legal and professional services industries: 

  • Rich Antoneck, Chief Executive Officer of Veritext Legal Solutions, leads the largest deposition and alternative dispute resolution firm in North America. Antoneck brings more than 20 years of private equity-backed executive leadership, including prior roles as CFO of Accuity Solutions and SourceMedia. 
  • David Perla, Vice Chair of Burford Capital, is a recognized innovator in legal services. Formerly President of Bloomberg Law and co-founder of Pangea3 (acquired by Thomson Reuters), Perla oversees policy, marketing, and industry engagement at Burford. 
  • Lou Andreozzi, former Chairman of Bloomberg Law and CEO of LexisNexis North American Legal Markets, is a legal tech pioneer. He has driven growth and product innovation at Martindale-Hubbell and continues to serve as a trusted advisor and board member across private equity and legal-tech ventures. 

"This board brings together an exceptional combination of legal acumen, business strategy, and operational expertise," said Lee Minkoff, Managing Director at Renovus Capital Partners, the private equity sponsor of Angeion Group. "Angeion is operating at the forefront of legal administration, and this step reinforces our confidence in the company's leadership, vision, and continued trajectory of operational excellence and growth." 

Our growth has always been fueled by bold thinking and relentless execution, and the addition of Rich, David, and Lou takes that to the next level," said Steven Weisbrot, President and CEO of Angeion Group. "Each has fundamentally shaped the way legal services are delivered - from litigation finance to legal tech and professional services at scale. Their insights will help us sharpen our strategy, deepen client impact, and push the boundaries of legal administration. 

About Angeion Group 

Angeion Group is an industry leader in legal notice and settlement administration, known for its use of technology, analytics, and hands-on client support to execute efficient, compliant, and effective legal administration services. With a proven track record in class action, mass tort, and bankruptcy administration, Angeion continues to redefine industry standards through precision, transparency, and innovation.

Announcements Consumer

Legal-Bay Launches Innovative Attorney Case Cost Funding

By Harry Moran |

Legal-Bay Pre-settlement Lawsuit Funding, a longtime leader in presettlement and legal funding, has unveiled a new financing program designed to help attorneys cover the high costs of building and preparing cases for trial without relying on bank loans or credit lines.

Case costs can include everything from medical records to expert witnesses to life care plans to court fees. Legal-Bay's funding lessens the upfront financial strain by providing capital that's only repaid if the lawsuit is successful, and gives legal professionals fast, flexible access to extra money when they need it most. The program allows attorneys to secure resources for experts, depositions, court filings, and other necessary expenses without tying up firm assets or tapping into their own expense accounts.

Chris Janish, CEO of Legal Bay, says, "Legal-Bay's attorney or law firm case cost funding program is tailored to help small and medium firms get the ball across the goal line to win big cases. We are a resource for lawyers nationwide to utilize case cost funding when cash flow is tight, without long underwriting processes, credit checks or monthly payments.  Best of all, our non-recourse funding means you only pay if you win the case."

If you're a lawyer or law firm in need of extra case cost funding in advance of your case's anticipated settlement award, you can apply HERE or call: 877.571.0405

With nearly 20 years of experience in legal finance, Legal-Bay has earned the trust of thousands of attorneys and law firms across the country. The company's commitment to fast approvals, transparent terms, and case-first evaluations has made it a go-to resource for professionals seeking a smarter way to manage litigation costs.

Legal-Bay is one of the best legal funding companies in the industry, known for their helpful staff and quick turnaround. They fund almost every type of lawsuit including personal injury, slips and falls, sexual discrimination, assault, or abuse, motor vehicle accidents, wrongful incarceration, and more. While sometimes legal funding is referred to as loans on lawsuit or lawsuit loans, there are no credit checks or collateral required. The money is an immediate cash advance against a plaintiff's anticipated settlement award, not a conventional loan. The non-recourse lawsuit funding is risk-free, as the money doesn't need to be repaid should the recipient lose their case.

To apply right now, please visit the company's website HERE or call toll-free at: 877.571.0405 where agents are standing by to answer your questions.