One firm, endless possibilities
Troutman Pepper and Locke Lord will become Troutman Pepper Locke on January 1, 2025.
An insurance client had a large portfolio of litigation and was looking to manage costs while also reducing the burdens associated with managing outside counsel rates and bills.
By analyzing the costs and risks of the cases the client wanted us to handle, we proposed fixed monthly payments, subject to a year-end true-up if either party was significantly off budget due to unforeseen changes during the contract period.
The client’s administrative burden was significantly reduced, and both the client and the firm felt comfortable with the financial arrangement if unforeseen changes impacted the number of resources required.
