Karl Heideck Describes The Litigation Financing Market
Mr. Heideck is an attorney who specializes in commercial litigation, risk management, product liability, employment law, compliance and corporate law. He is based in the Philadelphia metro area and works as a legal hire counsel for a major law firm there.
Describing the litigation financing market, Karl Heideck points out that the market and demand for litigation financing is growing. He specifically points out that litigation financing is now entering areas where it was previously unheard off. Areas where litigation financing was already present is seeing a further increase.
Heideck also clarifies what litigation financing is in his published article. He describes litigation financing as a tool to finance litigation costs for companies both large and small. A small business can find a litigation financier to help them pay legal costs for suing an opposite party to the tune of $2 million dollars for example. A major corporation on the other hand can easily find lawsuit financing for amounts that easily exceed hundreds of millions of dollars.
How litigation financing works, according to Karl Heideck is that a company or person gets a loan to file a lawsuit and cover costs. In exchange for the loan. which is then also repaid, the lender also gets a certain percentage of the lawsuit settlement or payout. Some corporations may even offer shares in the company or other company assets as payment instead points out Karl Heideck.
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