Pre-Settlement Attorney Loan and Post-Settlement Attorney Fee Funding Market?

The larger market, which provides loans and revolving lines of credit to law firms with a broad portfolio of cases that are in various stages of litigation, most of which are not yet settled. The smaller market, being post-settlements, where a specialty finance company provides an advance or an outright purchase of earned, but not collected legal fees from cases that have already been settled. Whereas plaintiff’s attorneys often find it necessary to invest large sums of money in case development costs (including: expert witness fees, deposition charges, demonstrative evidence, etc.), receivables are created which are repaid from case proceeds on successful outcomes.

By the end of 2000, the litigation finance market segment had just over $100 Million in committed loans provided by a few legal finance companies. Litigation finance has grown steadily to more than a dozen companies with outstanding loan commitments in excess of $1 Billion. Some companies focus on the larger plaintiffs firms and tend to gravitate toward firms handling mass torts and class actions as the costs involved in litigating these matters is immense with lines ranging from a few million to in excess of $20 Million per firm supported by litigation dockets that often exceed $100 Million in value. Numerous small companies focus on smaller firms providing lines typically between $100k and $3 Million with case portfolio values that total between a few million to over $60 Million.

For a more comprehensive overview of the legal finance industry click here.

About Bill Tilley

Bill Tilley, President and Chief Executive Officer – Bill Tilley is the President and CEO of Amicus Capital Services LLC and is responsible for managing day to day operations, marketing, originations and client relations. In addition Mr. Tilley serves on the credit committee along with the three other members. For the past ten years Mr. Tilley has been devoted to creating and then fine-tuning the legal finance industry. Mr. Tilley joined Themis Capital in 1999, launching the legal finance industry in California. Within two years California became the largest market for legal loans. Mr. Tilley was instrumental in growing Themis from $12 million in loans upon his arrival to more than $135 million in less than 4 years. After successfully winding down the Themis portfolio in 2004, Mr. Tilley became the largest broker of legal financial services while consulting exclusively for Counsel Financial Services through 2006. He continued his devotion to creating a full service financial services company that caters exclusively to the legal community leading to the launch of Amicus Capital Services, LLC in early 2007. In 2008 Mr. Tilley expanded Amicus’ financial offerings to include structured settlement/ fee products as well as financial advisory services. Mr. Tilley has personally originated more than $100 million in attorney loans and has participated in the origination of more than $200 million. Mr. Tilley counts several of the most successful plaintiff attorneys in the country as personal friends and has developed a network that includes thousands of invaluable industry contacts. As an expert on legal finance Mr. Tilley has spoken numerous times at attorney conferences throughout the country. In addition Mr. Tilley was recognized on Public Justices wall of honor for his efforts in promoting the non-profit public interest association.
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