By Legal Futures Associate Recovery First
The sad news of the administration of VFS Legal, the latest in a number of funders servicing the claimant market, will inevitably have a knock-on effect on those who have used their services over the years.
Your firms’ options following the VFS Legal administration
If you have been impacted by the changes at VFS Legal Limited, you may wish to consider restructuring your law firm as a result.
Recovery First specialises in assisting law firms with their strategic exits from particular segments of the legal market during corporate restructurings. Our aim is to retain maximum value for the law firm throughout this process.
We collaborate closely with professionals in restructuring, accounting, insolvency practice, and corporate recovery, aiming to ensure the most profitable outcome is achieved on any file transfer agreement.
We provide a flexible approach and can facilitate a phased approach of transferring work to our panel of solicitors.
Alternative legal funding options
Due to the administration of VFS Legal, law firms will no longer be able to obtain disbursement funding for their cases; however, there are alternative legal funding options available.
Companies, such as Annecto Legal may be able to assist law firms in sourcing the most appropriate legal funding options for their cases.
Obtaining advice for your firm
If your firm has been impacted by the VFS administration and you would like to consider your options in relation to restructuring your firm, please do not hesitate to get in touch with Recovery First today. You can get in touch with our directors via email david.johnstone@recoveryfirst.co.uk or sally.dunscombe@recoveryfirst.co.uk.
For advice on alternative legal funding options, feel free to get in touch with Annecto Legal via email info@annectolegal.co.uk.
