- Sharing risk
- Improving the bottom line
- Delivering service at competitive prices
- Smoothing cash flow
- Increasing revenues
The law firm financing is secured by the firm’s potential fee income in three or more of the cases. It serves to cover a portion of the fee budgets in the cases, essentially converting the “full” contingency fee matters into “hybrid” matters in which the law firm earns a portion of the capital it would earn from the cases if it were handling them on an hourly fee basis.
Since our law firm financing is non-recourse, firms retain the funded amounts even if the portfolio cases ultimately are unsuccessful. When contingency fees are collected from one or more of the cases, firms pay a return to Omni Bridgeway, with the amount depending on the terms of the financing agreement.
This approach allows firms to avail themselves of opportunities to earn more than they would earn in hourly-fee matters while lessening the risk of taking cases on contingency.