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London litigation funder in training contract first

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Includes City law firm secondment

Litigation funder Harbour has rolled out what is understood to be the sector’s first trainee solicitor scheme after receiving authorisation from the Solicitors Regulation Authority (SRA).

Harbour Litigation Funding is hiring one trainee who will commence a two-year training contract this autumn. They will undertake four seats of six months across different areas, including a secondment to a London law firm Harbour has a close relationship with.

The other seats will take place in the funder’s investment, general counsel and compliance teams, with trainees involved in operational work, commercial relationships, negotiating agreements and fundraising.

Senior director of litigation funding and training principle Mark King said:

“Harbour has always been a market leader in developing the litigation funding industry and in continuing this trend, we are delighted to offer this new and unique opportunity. The Harbour training contract allows you to develop your legal career in an environment where you see first-hand how the fruits of your work impact and develop Harbour’s funding business.”

He added: “It is a bespoke training contract with a strong commercial emphasis for lawyers who want to be a valuable part of decision making within the Harbour business which is at the forefront of a thriving market.”

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Harbour is a global litigation funding company based in Waterloo, London, which finances costly litigation or arbitration cases enabling them to proceed. It employs a 13-strong team many of whom are former City lawyers.

The funder launched the programme because it wanted to retain a paralegal, who was planning on undertaking a training contract at a law firm. It successfully applied for authorisation from the SRA and became a training provider. Harbour is now recruiting its first external trainee.

In terms of remuneration, the business (which is not SRA-regulated) has stated the salary will be “competitive” with London firms. Our Firms Most List shows first-year trainee pay figures can vary from anywhere between £35,000 to £55,000.

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13 Comments

NQ

Harbour must be funding you guys very well too! Never featured anywhere before and suddenly here we are even though you won’t know what your trainee rate of pay would be… apply now!

I’ve read since 2013 and you guys are just pumping out such utter shite these days, there’s a few less-regular contributors who sometimes write something worth reading; but the clickbait/gossip tripe is clearly the route you’ve gone down.

The LC proprietors are honestly a bit sad, which they’ll probably prove when they delete this comment.

Not Alex (or Tom)

Litigation funders are a huge think if you work in arbitration/litigation. It is cool that they are starting to have their own TCs. Though I do not envy poor NQ – doubt it will be easy to transfer to commercial law after the training (at least until such schemes become widespread).

Anonymous

Call the waaambulance; no-one gives a shit about your opinion.

Anonymous

Except they clearly do. Try not to take things to heart so much, otherwise you’ll never make it in law.

Anonymous

Congratulations, several other self-important jackasses have upvoted your comment. Well done. If you don’t like this website, don’t look at it. You have a finite amount of time on this earth; why on earth would you spend some of it moaning about an online magazine. Go outside or something.

And being a qualified solicitor, unlike most others on this website, I feel like I have ‘made it’ in my career.

NQ

Great stuff – glad you’ve given up your initial position in favour of a rational compromise.

I guess if you want to set the bar that low for yourself then who am I to say otherwise… you’ve certainly “made it” mate!

NQ

See how it says there are 8 comments but there’s only 5 – it’s because LC deleted three replies below this top comment. For no rational reason, I add.

That’s just so sad and typical of LC, even though that guy replying to me was a jerk, you could have at least kept the comments so everyone could see me shutting them down…

Quetzalcoatl

The trainee will be snapped up by PP in seconds upon qualification. They will have been involved in case building, funding assessments, cost / recovery analysis. They will also be networked with people who are in a position to be a vast source of work to their new firm

They will, in short have Kung Fu the like of which no conventional city trainee will ever bring to the table.

Anonymous

Hi HR.

Links MC future trainee who is about to get 10K maintenance for the GDL

shet training

Continental Big Law

In all honesty, most institutional City law firms do not train their juniors very well anymore given they are usually only assigned mechanical and ancillary tasks to much bigger deals (without much background information in the first instance) – running CP checklists for example is one task that comes to mind.

While it used to be that MC firms had the best training regime, it seems that few selected US firms now hold this title with maybe also the more established UK independent shops (thinking of TS and Macs).

Anonymous

True for some transactional seats (i.e. banking, capital markets), not so for others (i.e. corporate). Definitely not true for advisory seats.

Anonymous

Ur ferm is shet bruv

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