May 28, 2025
Publication: New York Law Journal
Contingency and success-based alternative fee structures are becoming more prominent as law firms align with clients who want shared risk and reward in complex litigation. Kobre & Kim’s Steven Kobre shared his insight with the New York Law Journal at a recent roundtable hosted by Burford Capital.
“We often guide our clients through situations they’ve never encountered before,” Mr. Kobre shared, citing multijurisdictional disputes and high-value claims. “Tying our fees to the value we create is just another part of the larger solution we offer,” he explained. Alternate fee arrangements are a natural extension of Kobre & Kim’s approach to complex litigation. The roundtable went on to discuss the implications of transitioning away from hourly billing, including cultural and structural changes and rethinking how value is measured. “The key is alignment—not just between the firm and the client, but within the firm itself,” Mr. Kobre said.
Legal finance is a powerful tool law firms can use to strengthen opportunities to work with clients on a contingent basis. “Good sources of legal finance have capital to invest. Great sources of insights to share,” Mr. Kobre emphasized the value of a strategic relationship with a legal finance partner. “Our most productive relationships are ones where we understand the funder’s business, and they understand ours. That kind of collaboration creates real opportunity.”