Funder
A particularly specialised branch of our work is the evaluation of real
work in progress figures to assist potential lenders. Unfortunately, it
is all too often the case that the figure on the solicitors balance sheet
does not accurately reflect the real work in progress figures for a firm.
Because we are legally qualified, and experienced file reviewers, we are
in a unique position to be able to tell whether a case is likely to succeed
or fail, and whether the firm is likely to achieve all, part, or none
of their claimed work in progress for a particular file. We can provide
detailed evidence as to:
• Recoverable fees in litigious/contentious cases
• Dates by which such fees will be recovered
• Likely non-contentious fees
• Likely “irrecoverable” work in progress
• Active client analysis
This information will enable us to analyse and report accurately on the
real value of a firm’s work in progress.
We have corrected WIP figures by up to 52.5%, which shows just how inaccurate
stated WIP can be – your clients will value such expertise highly
and it could significantly alter terms of mergers, acquisitions, or partnership
dissolution. It is a cost that solicitors often would be prepared to cover
as a disbursements, as the cost to them of using us would be a fraction
of the cost of using their own senior personnel.
When cases are funded, you may already know by bitter experience that
reliance upon a provider or solicitor to always make the right choices
may not prove to be the sensible option. You will also want to know about
likely repayment timescales, and those cases where repayment may be delayed
or will be unlikely. Through our audit services we are able to reduce
the knowledge deficit and help organisations such as yours to make the
right choices.
Further information on the following services:-