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Tackling the litigation overload

Dealing with high volumes of business-as-usual litigation while providing strategic oversight, is a challenge for busy in-house legal teams in the financial services sector.

The task is also not getting any easier. Caseloads are growing triggered by increased regulatory scrutiny and greater public awareness of financial issues following well-publicised issues such as Libor and Forex. Claims management companies also continue to expand their range of claims-handling activities.

Managing the workload

To help manage workflows, some businesses outsource this type of work, or elements of it, to private practice. There are clear advantages. It can free in-house teams to focus on strategic matters. A focused external legal support with a structured and consistent approach can also bring critical additional benefits, including:

  • Trend analysis: identifying trends and patterns not immediately apparent to an in-house team, because that team is likely to be spread across projects or offices.
  • Early risk identification: identifying emerging threats in a work portfolio, drawing on experience to substantiate these or put them in context.
  • Development of consistent strategies: applying knowledge acquired across all cases and helping to develop ways to deal with emerging threats and issues.
  • Neutralising the effect of fluctuating work levels: an outsourcing partner can flex resources to meet changing work volumes, through well rehearsed on-boarding processes that ensure additional resources are quickly assimilated into client teams.

We've put together a short paper looking at outsourcing litigation work, or elements of it, to private practice. If you'd like a copy, please  contact Helen Woodhouse on +44 (0)333 006 0808 or helen.woodhouse@TLTsolicitors.com

This publication is intended for general guidance and represents our understanding of the relevant law and practice as at October 2015. Specific advice should be sought for specific cases. For more information see our terms & conditions on www.TLTsolicitors.com

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