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JurisTrade Litigation Asset Marketplace Launches Phase 1 Rollout with over $70 Million in Litigation Funding Opportunities

By Harry Moran |
March 19, 2025

JurisTrade Litigation Asset Marketplace Launches Phase 1 Rollout with over $70 Million in Litigation Funding Opportunities

The JurisTrade Platform soft-launched last week with over $70 million in litigation funding opportunities in single cases, funding mass tort dockets and law firm refinancing.

The JurisTrade Litigation Asset Marketplace (“JurisTrade’) provides a transparent electronic platform which facilitates both primary funding opportunities in litigation finance, as well secondary sales of such interests.

The potential market for litigation finance ranges in the several $100s billions, of which only $30 billion is currently funded. JurisTrade is designed to unlock this large unmet demand through its liquid and transparent marketplace.

The litigation finance ecosystem has been clamoring for years for this type of market solution. Similarly to many other major asset classes, JurisTrade was built on a foundation of industry standardization, transparency and process streamlining, which eliminates uncertainty and, thus, attracts liquidity for litigation finance, a bona fide uncorrelated asset class.

Clients of JurisTrade include institutions, law firms, litigation finance funds, and family offices.

JurisTrade’s Phase I rollout includes nine diverse investment opportunities including a high-profile single case, a judgment monetization case, a law firm debt refinancing case, and several mass action-related cases. An OTC service desk is being offered to assist our clients in negotiating terms and structuring all manners of trades and vehicles, among other things. Other market features, technology, and analytics will be offered soon.

Typhon Capital Management, Larry Hite, and two notable family offices are sponsors of JurisTrade, and JurisTrade will be leveraging their collective expertise and experience. Typhon, in particular, provides trading operations on JurisTrade. Clients can use JurisTrade to directly engage in claims trading, such as bankruptcy and mass tort, then leverage Typhon to invest in or create custom passive funds holding any manner of litigation interests or loans, and actively managed funds, such as thematic claim trading, market making, or activist litigations. Typhon can also structure insurance wrappers around litigation-focused investments.

The senior management team of JurisTrade includes James Koutoulas as CEO, Kevin J.P. O’Hara as Chairman, Shawn Hartpence as Chief Commercial Officer, and Andrew Barroway and Larry Hite as strategic limited partners.

“Mr. Koutoulas is a seasoned hedge fund manager and attorney with a unique skillset encompassing derivatives-trading, complex bankruptcy and class action litigation, and software development making him the perfect CEO to bring the emerging asset class of litigation assets to a wider audience. He and I share similar philosophies on structuring vehicles with asymmetric, positively-skewed, and uncorrelated return profiles which will be much appreciated in the litigation investing world,” said Larry Hite, Founder of Hite Capital.

“Similarly, Mr. O’Hara’s previous C-suite roles at NYSE, CBOT, Archipelago and Gulf Finance House, and as an attorney at the SEC and his financial markets development in Eastern Europe, provide JurisTrade with one of the most accomplished exchange experts to steer our growth.”

“Larry Hite is a pioneer of two assets classes – commodity trading and litigation assets. Larry is an original ‘Market Wizard’ and we are humbled to have him as a founding partner and advisor to JurisTrade,” said James Koutoulas, CEO of JurisTrade.

Please sign up to view our initial inventory and be kept up to date at www.juristrade.com.

About Larry Hite:

Larry Hite is a legendary commodities trader and one of the founders of systematic trading. Mr. Hite founded Mint Capital, which was the largest CTA in the world by AUM in 1990. He has since been an active investor in litigation assets where he has invested in thousands of cases.

About Typhon Capital Management:

Typhon Capital Management, led by CEO James Koutoulas, is a multi-strategy hedge fund and platform specializing in tactical futures, quantitative, and cryptocurrency trading. Typhon creates custom portfolios and structured products for institutional investors and wealth management firms and is headquartered in Miami Beach. Mr. Koutoulas also was lead customer counsel in the MF Global bankruptcy, leading the recovery of all $6.7 billion in customer assets.

About Kevin J.P. O’Hara:

Kevin J. P. O’Hara has a decades-long career in business, law and regulation, entrepreneurship, technology, international, investing, and post-graduate teaching. Mr. O’Hara is an active angel investor with several successful exits, including sales to LinkedIn, PayPal, and IQVIA. He has a plethora of private and public company board and governance experience.

He was previously: (1) a C-suite member at CBOT, NYSE, Archipelago, and Gulf Finance House (Bahrain); (2) an attorney at the SEC, DOJ, and a major Chicago law firm (products liability and mass tort defense)(3) a law and business school lecturer at Northwestern University and Loyola University; and (4) an in-county financial and economic advisor in Eastern Europe in 1990s.

About Shawn Hartpence:

Shawn Hartpence has over a decade of experience advising law firms, litigation fund managers and institutional investors on capital formation and litigation investment. Areas of expertise include mass tort portfolio funding, secondary mass tort portfolio trading, single-case funding, portfolio funding, single-case monetization, and capital introduction for niche litigation strategies. Mr. Hartpence is a partner at Ocasio Mass Tort Law, a DC Law Firm and a Board Member of a cutting-edge AI Litigation assessment company.

About Andrew Barroway:

Andrew Barroway is a distinguished litigator and hedge fund manager with a proven track record of success in the investment world. He previously built Barroway, Topaz, Kessler, Meltzer, & Check, LLP, the second largest securities class action firm in the country, and helped lead the $3.2 billion settlement of Tyco Ltd. International. At Merion Investment Management, Mr. Barroway invented the appraisal rights arbitrage trade where he managed $1.2B in the near-riskless strategy, annualizing 13.25% net for 12 years. Mr. Barroway is a strategic limited partner in JurisTrade and the senior portfolio manager of our upcoming Cerus Litigation Fund.

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Harry Moran

Harry Moran

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Commercial Deals

Loopa Finance Backs $1.4B Climate Case in Chile Over Ventanas Pollution

By John Freund |

In a high-stakes move that could redefine climate litigation in Latin America, Loopa Finance has announced it will fund a series of civil claims tied to environmental and human health damages stemming from the Ventanas thermoelectric complex in Chile. The lawsuits seek multimillion-dollar compensation for over 1,000 individuals in the so-called “sacrifice zones” of Quintero and Puchuncaví, alleging direct harm from toxic emissions over a seven-year period.

In a press release, Loopa Finance announced the litigation is built on a landmark study from the Centre for Research on Energy and Clean Air (CREA), which uses advanced atmospheric modeling to directly link emissions from the Ventanas facility to 563 deaths, hundreds of adverse birth outcomes, and an estimated USD 1.4 billion in economic losses between 2013 and 2020. The findings provide the first scientifically verified causal link between the plant’s pollution and measurable human and environmental harm—spanning as far as Santiago, 300 kilometers away.

The legal action, Arellano v. Empresa Eléctrica Ventanas SpA (Case No. C-8595-2025), was filed in the 18th Civil Court of Santiago in September 2025 and is led by attorney Miguel Fredes of the Climate Defense Program. Backed by precedent from Chile’s Supreme Court and UN findings on regional human rights risks, the plaintiffs seek environmental remediation, full compensation, and permanent closure of the Ventanas facility.

Loopa Finance—formerly known as Qanlex—brings its cross-border litigation funding model to bear, combining legal and engineering expertise across Latin America and Europe. “This is a landmark case,” said Loopa investment manager Federico Muradas. “We’re backing it because we believe in effective and restorative environmental justice.”

Announcements Commercial

Burford Issues YPF Litigation Update Ahead of Pivotal Appeal Hearing

By John Freund |

Burford Capital has released a detailed investor update ahead of a key appellate hearing in its high-profile litigation against Argentina over the renationalization of YPF.

According to Burford’s press release, oral arguments in the consolidated appeal—referred to as the “Main Appeal”—are scheduled for October 29, 2025, before the US Court of Appeals for the Second Circuit. The hearing will address Argentina’s challenge to a $16 billion judgment issued in 2023, as well as cross-appeals concerning the dismissal of YPF as a defendant. The release outlines the appellate process and timelines in granular detail, noting that a ruling could come months—or even a year—after the hearing, with additional delays possible if rehearing or Supreme Court review is pursued.

Burford also clarified the distinction between the Main Appeal and a separate appeal involving a turnover order directing Argentina to deliver YPF shares to satisfy the judgment. That order has been stayed pending resolution, with briefing set to conclude by December 12, 2025. Meanwhile, discovery enforcement is proceeding in the District Court, where Argentina has been ordered to produce documents—including internal and “off-channel” communications—amid accusations of delay tactics.

International enforcement efforts continue in at least eight jurisdictions, including the UK, France, and Brazil, where Argentina is contesting recognition of the US judgment.

The update serves both as a procedural roadmap and a cautionary note: Burford stresses the unpredictable nature of sovereign litigation and acknowledges the possibility of substantial delays, setbacks, or settlements at reduced values.

Commercial Regulatory Issues

FCA to Take Over AML Oversight of Legal Sector, Drawing Industry Backlash

By John Freund |

The UK legal profession is bracing for sweeping regulatory changes after the government announced plans to transfer anti-money laundering (AML) supervision of lawyers and accountants to the Financial Conduct Authority (FCA).

An article in Legal Futures details the surprise decision, which has sparked widespread criticism from legal regulators including the Solicitors Regulation Authority (SRA), the Council for Licensed Conveyancers (CLC), and the Law Society. SRA Chief Executive Paul Philip, speaking at the regulator’s compliance conference, described the change as “very different” from existing oversight, warning that the FCA’s rules-based approach could upend how legal firms manage AML compliance. SRA Chair Anna Bradley echoed this sentiment, highlighting the potential for friction in adapting to the FCA's framework.

Currently employing 30 AML specialists, the SRA may redirect those resources elsewhere, but clarity remains lacking on how the FCA will structure and fund its expanded mandate. Law Society President Mark Evans cautioned that the move could raise compliance costs and create a burdensome dual-regulation environment, sentiments echoed by the CLC and the Law Society of Scotland.

The FCA, for its part, says the consolidation will streamline AML oversight and bolster enforcement capabilities. However, several experts—including former SRA AML director Colette Best and compliance professionals across the sector—warn that the FCA’s unfamiliarity with legal practice, possible under-resourcing, and the need for new legislation may delay implementation and sow confusion.

While anti-corruption advocates like Spotlight on Corruption welcomed the move, calling it a long-overdue shakeup, industry voices argue the transition must be carefully managed to avoid disrupting one of the UK’s most respected professions.

For litigation funders, the development underscores a trend toward stronger centralized oversight in areas intersecting with financial crime enforcement. Questions remain over how the FCA’s broader enforcement style might influence law firms—and by extension, the funders who work with them.