Bankruptcy trustees have long been coveted clients by litigation funders who say they can provide down-and-out companies money to pursue claims in court.

Chicago-based Longford Capital Management LP is making a play based on that strategy with its hire Monday of director Marc Carmel from Paul Hastings, where he was of counsel after joining that firm in 2011 from Kirkland & Ellis’ partnership. Carmel left Paul Hastings on Friday.