Welcome to Original Jurisdiction, the latest legal publication by me, David Lat. You can learn more about Original Jurisdiction by reading its About page, and you can email me at davidlat@substack.com. This is a reader-supported publication; you can subscribe by clicking on the button below. Thanks!
One of the most important developments in the legal world in the past decade has been the rise of litigation finance, which has emerged from relative obscurity—and even illegality in certain states—to become a multibillion-dollar industry. Initially viewed by many with either skepticism or befuddlement, litigation finance has gone mainstream, and today numerous Am Law 100 firms and Fortune 500 companies work with funders for mutual benefit.
But litigation finance remains controversial in some quarters, and its rapid growth has led to calls for greater regulation or disclosure. Based in part on such issues, I have long been interested in the field, dating back to when I covered it for Above the Law. Recent news stories—including litigation between a top funder and a former client, followed by a high-profile trial last month in the Southern District of New York—have brought litigation funding back into the headlines, making now an opportune time to explore it on this podcast.
In picking a guest, I adhered to my approach of going straight to the top, speaking with the #1 executive at the #1 funder: Christopher Bogart, co-founder and CEO of Burford Capital, the world's largest provider of legal finance. In our conversation, Chris and I covered his remarkable legal career, in which he became the general counsel of a Fortune 50 company just seven years out of law school; the early days of litigation finance, including the founding of Burford; attacks on litigation funding, including claims that it makes litigation more widespread, long-running, and expensive; and his own firm’s public beef with Sysco, the food-distribution giant and former Burford client. If you’re not familiar with litigation finance—how it works, how it has evolved, and how it’s transforming the legal and investing worlds—you’ll want to listen to this episode.
Show Notes:
Christopher Bogart bio, Burford Capital LLC
An Innovator’s Journey: From Star Litigator to Litigation Finance, by Russ Banham for Carrier Management
A $16 Billion Wall Street Lawsuit for the Ages, by Eriq Gardner for Puck
Burford Capital Eyes Billions in Payout for Argentina Suit, Bloomberg Law
Prefer reading to listening? For paid subscribers, a transcript of the entire episode appears below.
Sponsored by:
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