find the latest legal job
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Full time · Join a leading Adelaide commercial law firm
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Sydney NSW
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Melbourne VIC
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
Legal Inhouse / Lawyer / Company Secretary
Category: Other | Location: Brisbane QLD 4000
· Fantastic Company · Potential to be Part Time / Flexible Work Pattern
View details
Part Time Risk & Compliance Officer
Category: Other | Location: Brisbane QLD 4000
· Brisbane City · Flexible Part Time Hours
View details
‘Fire power’ given to Schreuders with help of alternate solution

‘Fire power’ given to Schreuders with help of alternate solution

Sydney personal injury firm, Schreuders Compensation Lawyers, has been able to give its matters “real fire power” by incorporating a unique solution into its practice.

The Sydney-based boutique has been using disbursement funding to gain immediate access to any independent expert reports it may require in matters, without having to complete an upfront payment. This includes medico-legal reports, radiology reports, court appearance and filing fees, barrister fees and many others.

“For example, we had a medical negligence case which involved a complex case of a young lady, whereby as a result of poor hygiene on the part of her treatment providers, she suffered a severe infection. JustKapital facilitated this challenging, medico-legal claim by allowing us to gather the extensive amount of expert medical reports required given the client’s significant pre-existing conditions and the complex medical conditions affecting many systems of her body. Had disbursement funding not been available, we would not have been able to gather sufficient evidence to achieve this great result,” said Schreuders principal lawyer Mark Schreuder.

“The average case will typically have about $4,000 to $6,000 of disbursements. If your cases aren’t funded, then you’re punching with one hand tied behind your back.

“Before using disbursement funding, this would typically result in clients getting less reports from experts. This limited the case’s potential as we wouldn’t have access to the level of evidence required to materially strengthen a case. Conversely, with disbursement funding, a client can get access to the experts needed to substantiate a claim. This allows you to present the case as it really is, and know you’re doing the best for the client by realising the correct value of their claim by being able to quantify the claim to the insurer.”

According to Anthony Hersch, general manager of JustKapital Disbursement Funding, disbursement funding is described as the provision of finance for third-party costs (disbursements) that form part of any litigation.

“The reason this financial solution is powerful is that it allows the law firm to defer payment until settlement (or up to 30 months – whichever comes first),” he said.

“Being released of immediate cash flow restrictions is significant: it removes the primary road block for claimants being able to source the type and/or volume of independent expert reports necessary to substantiate a case that otherwise may be cost-prohibitive.”

Mr Hersch noted that while a lot of firms equate the value of disbursement funding with saving money or reallocating working capital, it can also be used to give cases real “fire power”, like it has done with Schreuders.

“Disbursement funding is a practice that’s well-established and widely adopted internationally, and is geared to assist SME law firms, personal injury law firms, commercial litigation firms and family law firms,” Mr Hersch added.

“There’s a continual uptake of the financial solution to get access to the range of reports required to progress a case. This in itself generates more revenue as it enables firms to take on additional cases while being released of capital constraints.

“We encourage SME law firms to take advantage of this smart alternative.”

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

‘Fire power’ given to Schreuders with help of alternate solution
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Nov 24 2017
Demand lifts in 2017/18 for short-term finance to cover crises
Promoted by NWC Finance. The first five months of the 2017-18 financial year have seen unpreceden...
LCA welcomes religious freedom panel
Nov 24 2017
LCA welcomes religious freedom panel
The Law Council of Australia says the establishment of a panel which will examine the human right to...
Law Society launched a new website, legal politics and lawmaking
Nov 24 2017
Law Society launches project to engage young Aussies
The Law Society of NSW has launched a new website to engage young Australians in legal politics and ...
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...