‘Innovative’ financing for Shepherd & Wedderburn

Scottish legal firm Shepherd & Wedderburn has struck an “innovative” finance arrangement with global player Burford Capital.

The deal is said to be the first of its kind to be offered by a top 100 UK law firm and major funder.

The “multi-million pound” portfolio financing arrangement provides capital that Shepherd & Wedderburn can tap into to expand its ability to offer alternative fee arrangements to clients, as well as grow the firm’s reach in commercial litigation and arbitration.

Similar arrangements have proved increasingly attractive to US law firms, including those practising in the UK, enabling them to reduce risk exposure.