HFW has scored a litigation ‘win-win’ after adding both a £25m litigation funding deal and a litigation analytics partnership to its practice.
The firm announced today it was partnering with both litigation start-up Solomonic, which launched commercially at the start of the year and uses court data for predictions and case research, and with litigation funder Augusta Ventures.
HFW’s partnership with Solomonic will give its lawyers access to the system in return for their expertise in commercial litigation, from which Solomonic hopes to improve its system with new modules and jurisdictions.
HFW disputes professional support lawyer Nicola Gare (pictured) told Legal Business: ‘Because of our jurisdictional locations and practice areas we are going to work with [Solomonic] to develop the programme.’
She added: ‘We are very keen on partnering with what we perceive as equally dynamic and innovative companies, particularly where the benefit is really for the end client and also for the lawyers. I see this as a win-win, both for the associates and lawyers in the firm and also our end clients. The capabilities of Solomonic will enhance and make our lawyers research more creative, certainly more efficient and support them in that process.
Solomonic chief revenue officer Edward Bird told Legal Business the company will in turn work with the firm to design the interface of the products. He said there was demand from corporate clients for richer and stronger data to inform and support litigation decisions.
‘Corporate organisations treat litigation increasingly as a business decision and to do that they need to have the kind of information that they would have available for other business decisions.’
Solomonic co-founder Gideon Cohen added: ‘HFW is the ideal firm to help us develop Solomonic. It is not just HFW’s enviable litigation volume and record of success; the firm’s significant global reach, with leading practices in key disputes jurisdictions around the world, will also be invaluable in helping us expand our offering internationally.’
HFW’s partnership coincides with a £25m litigation funding deal with Augusta Ventures, who earlier this month closed a similar deal with Pinsent Masons.
The deal offers non-recourse funding with no requirement to repay fees. Augusta only receive payment from the defendant if the claim is successful.
HFW litigation and innovation partner Brian Perrott said: ‘This deal with Augusta provides improved accessibility to dispute resolution funding for our clients. For the funding of disputes with Augusta we have agreed preferential terms that will save our clients time, money and mean they pay nothing if their claim fails.’