Financial Stability
Much is being reported in the legal press about financial stability, but without much clarity in terms of the measures being applied or direction firms should take to address the situation.
Funding & Cashflow
While internal run off is an option, another is the independently managed run off, which has many merits when compared to a discounted trade sale.
Internal Run off
Internal run off is obviously an option for any firm considering reducing or ending its involvement in PI claimant work, particularly where the caseload is very small.
When personal injury (PI) law firm, Delta Legal, realised it was facing insolvency issues following the huge changes to the legal landscape last year, its managing partner knew he had to act quickly to improve the situation both for creditors and clients.