The relationships between law firms and funders are key to the success of the litigation finance industry, whether around the funding of individual cases or wider-ranging partnerships. Last month saw the announcement of a new approach to this relationship, as litigation funder Deminor and Italian law firm Grimaldi Alliance entered into a global partnership.
An LFJ Conversation with Michael Kelley, Partner, Parker Poe
The relationships between law firms and funders are key to the success of the litigation finance industry, whether around the funding of individual cases or wider-ranging partnerships. Last month saw the announcement of a new approach to this relationship, as litigation funder Deminor and Italian law firm Grimaldi Alliance entered into a global partnership.
An article in Legalcommunity.it provides more detail on the partnership between the two companies, featuring comments from Giulia Lovaste, counsel at Grimaldi Alliance, and Giacomo Lorenzo, senior legal counsel at Deminor. Clarifying the exact nature of the partnership, Lorenzo stated that whilst this would not be an exclusive relationship between Deminor and Grimaldi, it is the only partnership of its kind that Deminor has entered into so far.
Lovaste and Lorenzo confirmed that the partnership will allow Grimaldi to present its clients with a range of financing options for their cases, whether that be single case funding or the opportunity for Deminor to purchase the claim outright and thereby allow the client to monetize that claim. Lovaste emphasized that the main advantage of this partnership will be to support its customers in managing the costs of litigation, allowing the client and law firm to focus on managing cases.
With the potential for new regulation looming over the industry in Europe, both Lorenzo and Lovaste agreed that whilst regulation could be beneficial by adding credibility and legitimacy to the industry, it will need to be approached in the right way and in collaboration with the existing funding industry.
