“The commercial legal finance industry is one of the fastest growing finance sectors in the world. The launch of this association is a testament to the commitment our industry is undertaking to provide critical capital to businesses in the most efficient, ethical and professional manner possible.” Leslie Perrin, Chairman of the International Legal Finance
Association.
The International Legal Finance Association (ILFA)—the firstever global association devoted to the growing commercial legal finance industry—has launched.
Incorporated in Washington, DC, with a significant presence in London and with a worldwide membership, ILFA will be the global voice of the commercial legal finance industry, representing its interests before governmental bodies, international organizations and professional associations and serving as a clearinghouse of relevant information, research and data about the uses and applications of commercial legal finance.
ILFA’s inaugural Chairman will be Leslie Perrin.
Perrin is presently the Chairman of Calunius Capital LLP, a London-based legal finance firm. He is the former Managing Partner of Osborne Clarke, a 900+ lawyer international law firm, and the past Chairman of the Association of Litigation Funders of England and Wales.
Perrin said
“The commercial legal finance industry is one of the fastest growing finance sectors in the world. The launch of this association is a testament to the commitment our industry is undertaking to provide critical capital to businesses in the most efficient, ethical and professional manner possible,”
Highest standards
ILFA will establish and promote general principles of best practice for the industry, ensuring that legal finance companies follow the highest standards and processes that clients have a right to expect.
The members of ILFA represent more than $10 billion in current commercial legal finance activity.
“The commercial legal finance industry is a critical partner for businesses across the globe,” continued Perrin. “The spectacular growth of our industry over the last few decades speaks volumes about what a valuable service our industry provides.”
Companies rely on effective and efficient judicial and arbitral processes to protect their business interests. Dispute resolution, whether through commercial litigation or arbitration, is essential to business. Legal finance enables companies with meritorious claims to pursue those claims and to be made whole when they are harmed, without impacting their cash flow and ability to invest in and grow their businesses.
Leading commercial legal finance firms
Six of the world’s leading commercial legal finance firms—Burford Capital, Harbour Litigation Funding, Longford Capital Management, Omni Bridgeway, Therium Capital Management and Woodsford Litigation Funding—are ILFA’s founding members.
Since then seven further commercial legal finance firms have joined: D E Shaw & Co, Fortress Investment Group, Innsworth Advisors Limited, Law Finance Group, Nivalion AG, Parabellum Capital LLC and Validity Finance LLC.
Membership is open to any professional commercial legal finance firm that satisfies ILFA’s membership criteria.
Perrin concluded:
“Innovation and growth are not always met with universal praise. Unfortunately, some will always view innovation and growth as a threat to the status quo,” ILFA looks forward to leading the efforts to educate businesses about our industry, advocate for our members and provide a much needed voice for clients who rely on us and the services we provide.”