4 Rivers and Premonition Announce Strategic Alliance
MIAMI, September 26, 2017 (Newswire.com) - 4 Rivers, the litigation finance co-funder and brokerage; and Premonition, specialist in litigation data analytics have agreed to collaborate on originating and funding cases for corporations which are litigating regularly in the US and UK.
Using its sophisticated software, Premonition is able to identify serial litigants according to a number of criteria, including type and size of case, and geography. 4 Rivers has access to specialist funding sources which are suitable for financing either single cases or bundles of cases. For the latter, portfolio arrangements can be negotiated and cash can be drawn down by the corporate to fund other initiatives such as acquisitions, investment in IT and expansion into new markets.
Commenting on the strategic alliance, Peter Petyt, Co-Founder of 4 Rivers, said:
"We are delighted to be working with Premonition to identify corporates which are litigating regularly. We now have a range of funding solutions which can allow not only the legal costs of individual cases and bundles of cases to be financed but also cash to be generated for use in other initiatives. 4 Rivers will co-invest in these funding packages wherever possible."
Commenting on the strategic alliance, Toby Unwin, CIO of Premonition, said:
"Peter and his team are consistently among the first to try new ideas in the litigation finance space. I think that the concept of automatically finding the companies with the most litigation, then using analytics to cherry pick the most lucrative cases to fund before even approaching potential litigants will soon be standard practice in the industry. As the world's largest litigation database and the market leader in litigation analytics, it was a natural fit for us."
About 4 Rivers:
4 Rivers is a litigation finance co-funder, brokerage and consultancy which originates claims either from claimants direct or through law firms. It has relationships in place with some of the major existing funders based in the U.K. and U.S. It also provides a range of ancillary services including legal services procurement and legal project management. The 4 Rivers team is a combination of people with legal and financial experience, headed up by Peter Petyt, a Chartered Accountant, Corporate Financier and former CEO of a legal services business; and David Vines, a qualified solicitor and a founder of LawBite, a digital legal service providing expert legal advice and dispute resolution on all aspects of commercial law.
Premonition provides analytics in the areas of litigation, counsel, lawyer reports, law firm reports, court analysis, panel selection, expert witnesses, arbitrators, co-counsel leasing, and litigation management; and law firms, local counsel, leads, account pitches, law firm analysis, recruitment, and legal malpractice.
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