For as long as he can remember, Chris Bogart has been interested in the law. As a schoolkid growing up in Toronto, Canada, he enjoyed the thrill of debating, articulating and defending his ideas while cracking open the flaws in his opponent’s logic. In high school, he was an active participant in student government and the Model UN, an educational simulation in which students learn about diplomacy, international relations and the United Nations.
Executive SummaryLitigation finance has been attacked by the insurance industry since its inception for causing "social inflation." The innovator of the concept in the U.S., Burford Capital's Chris Bogart, counters that it offers more rational settlements. Insurance Journalist Russ Banham spoke to Bogart about the life and career experiences that sparked the innovation and Burford's place in the world of litigation finance today.
Before he co-founded Burford Capital, the world’s largest provider of litigation finance, in 2009, these critical thinking skills were essential at Time Warner, where Bogart enjoyed an illustrious legal career as executive vice president and general counsel from 1998 through 2001. He played an indispensable role in such notable transactions as the $7.5 billion acquisition of Turner Broadcasting and the $350 billion merger with America Online.
It was at the publishing and cable TV and Internet giant that Bogart conceived the concept of creating the first litigation finance firm in the U.S. In its most basic form, the idea called for developing a third-party funding company that would finance claimants and law firms in a case in return for a share in the potential recovery. These parties could then pursue claims that otherwise might be abandoned due to lack of funds.
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