Bloomberg Law quotes Ken Epstein on legal finance as a key tool in corporate insolvency proceedings
In response to the wave of corporate insolvency proceedings hitting court dockets across the country, Ken Epstein—investment manager and legal counsel for Omni Bridgeway in New York—spoke to Bloomberg Law about the increase in litigation funding by law firms, corporations, creditors and bankruptcy trustees.
Ken commented that “(w)ith costs always a concern in bankruptcy proceedings, it’s kind of a natural fit.” The article, Litigation Funders See Growing Opportunities in Bankruptcy Boom, notes that “trustees historically have had to work with minimal resources to litigate claims, and often hire lawyers on a contingency fee basis to pursue costlier cases. The question to consider is ‘how do you successfully bring those claims?’ said Epstein. ‘This is just another tool that the industry is using to do that.’”