Willkie, Longford Reach $50 Million Litigation Funding Pact (1)

Willkie Farr & Gallagher is partnering with litigation funding firm Longford Capital to offer $50 million in financing to clients pursuing big-money lawsuits in what is believed to be the largest publicly announced deal between a major law firm and litigation funder.

The money will be spent to pay for lawyers’ fees and expenses on cases where Willkie’s clients request it and Longford and Willkie agree the case is worthwhile. It could also be spent to monetize claims or awards that haven’t been paid yet. Typically, litigation funding agreements involve non-recourse loans that entitle a funder to a portion of ...