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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.

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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.

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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.

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Benefit from an external run off and retain the full value incumbent in WIP

Delta Legal

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.

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