Woodsford Litigation Funding has pledged $20 million (£15.5m) to a US firm in the latest ‘portfolio financing’ agreement.
The funds will be given to litigation boutique Lewis Baach Kaufmann Middlemiss and will ensure the firm can offer clients ‘high value litigation and arbitration’.
The deal will cover matters in any jurisdiction around the world where Lewis Baach is prepared to offer contingency fee arrangements, and where funding is required for the additional litigation expenses.
Earlier this month, the Gazette reported that Burford Capital had pledged an ’eight-figure sum’ to fund several cases brought by UK top-100 firm Shepherd & Wedderburn.
Eric Lewis, senior partner at Lewis Baach, said: ‘This agreement provides not only financial resources to facilitate meritorious litigation, but also creates synergies of litigation judgment and sensible management that are beneficial to lawyers, funders and clients alike.’
Steven Friel, chief executive of Woodsford, added: ‘We have enjoyed a long and successful relationship with Lewis Baach, and I am delighted that we can continue to assist them and their clients in litigation and arbitration around the world.’