Ideally, businesses facing lawsuits search for attorneys willing to work on a contingency fee. The contingency fee arrangement naturally relieves some of the financial pressure for the business; but can also motivate the attorney to do all they can to win the case. However, even if an attorney is willing to work on a contingency fee, the business may still face other financial pressures. Lawsuits can impact the ability to find investors, keep customers and ultimately stifle a company’s cash flow. And depending on the nature of the lawsuit and the financial condition of the company, a lawsuit can force a business to take on debts that are difficult to service.
Amicus Capital Services understands that lawsuits can financially threaten even the strongest business, that’s why they’ve launched their commercial litigation funding division. Commercial litigation funding provides all businesses with the opportunity to protect their assets while giving their attorneys time to effectively fight lawsuits.
The good news is that commercial litigation funding, also known as commercial litigation loans can help take the financial pressure off. The most important thing to understand about commercial litigation funding is that they are not loans in the way that most people understand them. In reality, they are cash advances to cover litigation expenses secured by a meritorious case, judgment or settlement. Law Firms and Plaintiffs who receive commercial litigation loans typically only repay the loan if they win the case. If they don’t, they’re not obligated to repay the commercial lending company. This is called a ‘non-recourse loan’ and it works out well for all involved, including the legal finance company.
Here’s what businesses and law firms should know about commercial litigation loans:
A finance company will only fund commercial litigation that has merit and is very likely to be successful.
The commercial litigation funding received by the law firm can be used in any way they chose to further the case.
Commercial litigation loans are typically non-recourse loans. If the law firm does not win the lawsuit, they are not obligated to repay the loan.
“In our litigious society, businesses are more vulnerable than ever to lawsuits, but with our commercial litigation funding services, we hope to provide some financial stability for businesses facing the devastating effects of these lawsuits.”
– Bill Tilley, Founder & CEO of Amicus Capital Services, LLC
Bill Tilley founded Amicus Capital Services, LLC in 2007 using more than a dozen years of experience to provide essential litigation finance services to law firms. He continues to work diligently to expand financial services to the legal industry so that both attorneys and their clients have the resources necessary to fight lawsuits. To find out more about litigation finance or to schedule an interview, you can contact Bill Tilley at (661) 263-0030 or email .