The managing director at Burford Capital on the challenges of third party funding & facing Bruce Springsteen in court
Nick Rowles-Davies is MD at Burford Capital, a firm specialising in litigation finance. Nick previously worked at Vannin Capital, heading the origination and underwriting activities as well as at Bridgehouse Partners LLP, a London legal boutique, leading the dispute resolution practice. His book, Third Party Litigation Funding, is due to be published in September 2014.
What was your route into the profession?
It was a combination of family pressure and circumstance.
In my late teens I was hoping to study business and computer science—I can only imagine where the latter would have led me, given the power of those who work in IT these days.
This combination quickly became politics and law—largely thanks to my grandmother, a fearsome Scottish lady who basically told me it was the “right course” to take.
That was my first real law lesson—knowing which fights to pick. As it turned out, it was a good “decision” and I didn’t look back.
After qualifying, I did many years at the litigation coal face and ran the litigation team at a boutique West End firm, until making the choice to go into funding full time in 2011.
One of my highlights was leading the team that went up against Bruce Springsteen in a legal fight at the High Court in the 1990s. I have to say it was the only time I have been truly starstruck—and wishing I was on the other side, not only because we lost!
What has been your biggest career challenge so far?
The decision to leave day-to-day litigation, for the often feared and misunderstood world of litigation (or Third Party) funding.
Being on the funding side of the fence brings many challenges itself. In its infancy, there was a challenge to convince clients and law firms that funding is a tool to be utilised. The ongoing challenge is the education of the profession as to alternative funding methods for litigation, or generally, through my work with Burford Capital.
Another challenge has been writing a book on litigation funding—by far one of the toughest tasks I’ve ever taken on.
Which person within the legal profession inspires you most?
Within the profession, I have to be honest and say not so many. But thinking of those who have influenced and that would be Lord Chief Justice Woolf and Lord Justice Jackson, who have made landmark changes. Those made by the latter, despite the debate raging at the moment, are for the better, in my view.
Inspiration usually comes from clients in my experience. Those that have faced challenges physical, legal or financial—yet have persevered.
When it comes to individual lawyers—Clive Stafford Smith is a man with a real purpose.
If you weren’t a lawyer, what would you choose as an alternate career?
A writer, although not a very good one. But the thought of writing about travel and fiction appeals greatly. Some people might argue the latter has close links to the law but that’s not an argument I am prepared to have!
Who is your favourite fictional lawyer?
Mickey Haller, Michael Connelly’s ‘The Lincoln Lawyer’, although I must underline that I am nothing like the character (who operates out of the back seat of his car and will defend anyone in LA with a need).
What change would you make to the profession?
I would reinstate an efficient system of legal aid that assists those that need it and pays an appropriate rate for the lawyers’ services. Britain is known as a society where people have access to justice when required. We need to protect that.
How do you relax?
I have recently acquired a small boat which, although is nothing to shout about, is a superb space to unwind and a great place to get away from the often choppy waters of the legal profession.
