In the event of a successful outcome in a dispute included in the portfolio, Litigium Capital will be entitled to a portion of the success fee agreed between Morris Law and the client. The advantage for Morris Law’s clients is that they do not bear the full cost risk of litigation but instead share that risk with their legal counsel and Litigium Capital.
“For us as advisers, it feels natural to assume parts of the risks in a dispute. This creates stronger alignment of interests with our clients and a shared goal of achieving the best possible outcome. At the same time, we must balance this with the economic reality of our own operational costs. This agreement provides a sound balance between the clients’ interest in reducing process risk and our ability to offer even more attractive services – with the same high quality and integrity as before,” says Martin Taranger, CEO of Morris Law, the first of the AGRD firms to launch this model.
No client information or details of any disputes will be shared with Litigium Capital without the prior consent of Morris Law’s clients. Until such consent has been given, all information will be handled confidentially in accordance with AGRD Partners’ Code of Conduct. Litigium Capital is also bound by a Code of Conduct through its membership in the European Litigation Funder’s Association (ELFA), which includes requirements on confidentiality and procedures to avoid conflicts of interest. The collaboration agreement itself also contains strict provisions on information management.
Litigium Capital will not exercise any influence over the disputes being handled. Control over strategic decisions in each case will, as always, remain with the clients.
“As the leading legal financing company in the Nordics, we are an ideal partner for Morris Law, AGRD Partners and their clients in the transition from traditional hourly billing to more flexible fee models. We are proud and pleased with the trust placed in us and look forward to a long and successful collaboration,” says Thony Lindström Härdin, CEO of Litigium Capital.
The agreement takes effect immediately, meaning that interested clients can already contact Morris Law for an open discussion about flexible pricing models for disputes as described above