Subjects: CON, FNC
SpectraLegal Enters Into a New Strategic Partnership With a Leading Global Investment Firm
LONDON, September 18, 2017 /PRNewswire/ --
SpectraLegal has established a strategic partnership with a leading global investment management firm to provide financing for UK law firms.
The funding will allow SpectraLegal to extend its WIP and Disbursement funding product for specialist personal injury and clinical negligence firms - essential at a time when banks and other traditional lenders are restricting access to credit.
John P. Rossos, Chairman & CEO of SpectraLegal, said: "To attract the support and investment of a major global investment company with over US$70 billion in assets under management validates our vision of becoming the leading finance business in this highly specialised market. Our services provide law firms with the financial resources to invest in their cases, ensuring their clients, people injured or harmed through the actions of others, obtain fair compensation for their losses."
Steve Carter, the Chief Operating Officer responsible for managing SpectraLegal's UK business, believes SpectraLegal's products are unique and provide a critical source of competitive advantage for UK law firms.
Carter said: "We foresee a significant consolidation of this market, where our capital can be used by law firms to grow their businesses organically or by acquiring other law firms or their cases. Our experience and expertise can help personal injury firms navigate the difficult challenges of growing their businesses."
Rossos added: "Through BridgePoint, BICO and GLS, our affiliated businesses in Canada, we are one of few organizations that offer specialised insurance and funding solutions for the global legal services market. We are uniquely qualified to offer law firms an integrated risk management solution covering a broad spectrum of litigation, from personal injury to class action and mass tort".
Notes to Editors
About SpectraLegal Finance
- SpectraLegal was launched in 2015 to offer specialist finance to British law firms offering services under no-win, no-fee retainer agreements with an initial focus on personal injury, catastrophic injury and clinical negligence legal practices.
- The company is affiliated with BridgePoint Financial Group, the leading provider of finance and insurance solutions for the Canadian legal services market. BridgePoint works with over 1,000 law firms based in Canada since its formation in 2005.
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