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Pravati Capital Completes Expansion to Key Markets and Adds Accomplished New Hires to its Distinguished Leadership Team

Pravati Capital Completes Expansion to Key Markets and Adds Accomplished New Hires to its Distinguished Leadership Team

NEW YORK, July 29, 2020 — Pravati Capital, leading litigation finance pioneer and consulting firm, today announced four new members to its esteemed leadership team, each complementing the firm’s outstanding services and legal insight. Joining Pravati Capital, Bruce Cohen, Douglas Smith, Scott Potter and Shane Ham will bolster the company’s litigation practice with specialized experience to better serve clients. Pravati Capital announced four new members to its esteemed leadership team, each complementing the firm’s outstanding services and legal insight. Joining Pravati Capital, Bruce Cohen, Douglas Smith, Scott Potter and Shane Ham will bolster the company’s litigation practice with specialized experience to better serve clients. The accomplished new additions bring a wealth of knowledge in areas such as debtor-in-possession financing, complex litigation and commercial litigation, and will help steer and strengthen the firm’s plans for growth, while expanding its footprint to key markets including New York, Los Angeles and Dallas. As Pravati Capital continues to grow and scale, the strategy will remain on developing attractive alternative investment funds that offer solid returns at a low risk given that assets are not related to the economic cycle. The established focus combined with the specialized experience will allow the industry leader to explore new and existing opportunities within the dynamic and growing field. “We are thrilled to welcome these accomplished individuals and look forward to the value they will add to our insight and practice,” said Alex Chucri, CEO at Pravati Capital. “Our clients are our top priority and we are confident these additions will enhance our company as we continue to grow and offer exceptional service as we expand our practice of finance litigation.” New additions to Pravati Capital’s leadership includes: Pravati Capital welcomes Bruce Cohen as Director of Business Development in the Dallas office. Cohen’s 30 years of well-rounded background add extreme value to the firm and his past positions include Senior Legal Director at PepsiCo, Inc., where he was responsible for sales and antitrust matters in its Frito-Lay subsidiary and Associate General Counsel of Verizon Communications Inc. A former U.S. Army Field Artillery Officer, he is a Distinguished Graduate with Honors of the Virginia Military Institute and received his Juris Doctor summa cum laude from the University of Georgia School of Law. Cohen was a litigation partner at a prominent Atlanta law firm and has appeared in trials, regulatory proceedings and appeals in over three dozen states. He holds advanced degrees in history and law from Michigan State, the University of North Texas, and King’s College London. He previously served as a Special Assistant to the Attorney General of Texas, and as a judicial law clerk for a judge of the United States Court of Appeals for the Fifth Circuit. “I’ve really enjoyed the challenge of learning about litigation finance and explaining it to law firms and legal departments, many of whom really didn’t know it existed, let alone the ways it could help their practice and their teams,” said Cohen. “It’s still a nascent business in many respects, and I look forward to helping it grow.” Doug Smith serves as Senior Commercial Lending Advisor in the Scottsdale, AZ office. With a 30-year background managing corporate and commercial real estate lending, Smith focused primarily on structured finance transactions, Debtor-In-Possession bankruptcy restructuring, and distressed loan portfolios. Prior to the private sector, he worked for Congressman John Rhodes, Minority Leader of the U.S. House of Representatives during the Carter and Reagan administrations. Currently, he is a member of the Arizona board of directors for a commercial bank and President of the private non-profit Phoenician II Foundation. In the past, he has served as a member of the Board of Directors for the Maricopa County Industrial Development Authority, the Board of Directors for the Arizona Chamber of Commerce, the Maricopa County Community Development Advisory Committee and the Arizona Republican Party Finance Committee. “The economy is experiencing major dislocation and businesses will need debtor-in-possession and debt restructuring services for some time to come,” said Smith. “Pravati is uniquely positioned to provide these financial services in an efficient and creative manner to middle market enterprises.” Scott Potter joins as Director of Business Development in Pravati Capital’s home office in Scottsdale, AZ. Potter honed both his legal and client relations skills through a decade long commercial litigation career and an additional four years of in-house counsel experience. He was the corporate counsel and global client relations manager for an international manufacturing firm and the vice president of legal affairs for a national lien company. Scott is a graduate of both the Marriott School of Management and the J. Reuben Clark Law School at Brigham Young University. He has practiced at the administrative, trial and appellate levels in both real estate and commercial litigation and represented both billion-dollar corporations and impoverished individuals. Scott has served on the Arizona State Bar’s alternative Dispute Resolution committee and been named a Southwest Super Lawyer Rising Star. “My parents always said I could excel at anything that I wanted to do.  What I always wanted to do was help people to be happy,” said Potter. “Pravati gives me the chance to lift financial burdens from others as they seek greater peace in their lives.” Shane Ham joins as a Legal Investment Analyst in Pravati Capital’s home office in Scottsdale, Arizona. Formerly a litigation partner at Osborn Maledon, he focused on complex commercial and personal injury matters. His practice spanned a broad variety of topic areas, from constitutional law to medical marijuana compliance. Prior to attending law school, Shane spent nearly a decade in Washington, D.C. where he worked as a producer on a political talk show and a technology policy analyst for a prominent think tank. Shane received both his Bachelor of Arts degree in Political Science and Juris Doctorate (magna cum laude) from the University of Arizona, and he clerked for then-Vice Chief Justice Andrew D. Hurwitz at the Arizona Supreme Court. “As a litigator I saw too many cases that were strong on the merits but had to be abandoned because the plaintiff did not have the funds to fight for years against a deep-pocket defendant,” said Ham. “At Pravati I get to help level the playing field, and give people who have been wronged a chance to have their day in court.” “The new additions to our leadership team will continue to support our vision of transformation and innovation, which together with leading and breakthrough insight and practices within our industry, will allow us to continue serving our clients as we grow in the future,” added Pravati Capital’s CEO Chucri. About Pravati Capital As a leader in the litigation financing field, Pravati Capital has changed how companies and law firms envision their future. For more than a decade, we have been at the forefront of litigation financing solutions, creating innovative sources for bridge capital. It is our mission to provide innovative, efficient capital solutions for law firms, compassionate assistance to plaintiffs, and a secure alternative investment option for accredited investors.
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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.

The Alliance for Responsible Consumer Legal Funding Applauds Governor Newsom for Signing AB 931

By John Freund |

The Alliance for Responsible Consumer Legal Funding Applauds Governor Newsom for Signing AB 931, the California Consumer Legal Funding Act

The Alliance for Responsible Consumer Legal Funding (ARC) expressed its deep appreciation to Governor Gavin Newsom for signing Assembly Bill 931 -- The California Consumer Legal Funding Act -- into law. Authored by Assemblymember Ash Kalra (D–San Jose, 25th District), this landmark legislation establishes thoughtful and comprehensive regulation of Consumer Legal Funding in California—ensuring consumer protection, transparency, and access to financial stability while legal claims move through the judicial process.

The law, which takes effect January 1, 2026, provides consumers with much-needed financial support during the often lengthy resolution of their legal claims, helping them cover essential living expenses such as rent, mortgage payments, and utilities.

“This legislation represents a major step forward for California consumers,” said Eric Schuller, President of the Alliance for Responsible Consumer Legal Funding. “AB 931 strikes the right balance between protecting consumers and preserving access to a financial product that helps individuals stay afloat while they await justice. Consumer Legal Funding truly is about funding lives, not litigation.”
Key Consumer Protections Under AB 931

The California Consumer Legal Funding Act includes robust safeguards that prohibit funding companies from engaging in improper practices and mandate full transparency for consumers.

The Act Prohibits Consumer Legal Funding Companies from:

• Offering or colluding to provide funding as an inducement for a consumer to terminate their attorney and hire another.
• Colluding with or assisting an attorney in bringing fabricated or bad-faith claims.
• Paying or offering referral fees, commissions, or other forms of compensation to attorneys or law firms for consumer referrals.
• Accepting referral fees or other compensation from attorneys or law firms.
• Exercising any control or influence over the conduct or resolution of a legal claim.
• Referring consumers to specific attorneys or law firms (except via a bar association referral service).

The Act Requires Consumer Legal Funding Companies to:

• Provide clear, written contracts stating:
• The amount of funds provided to the consumer.
• A full itemization of any one-time charges.
• The maximum total amount remaining, including all fees and charges.
• A clear explanation of how and when charges accrue.
• A payment schedule showing all amounts due every 180 days, ensuring consumers understand their maximum financial obligation from the outset.
• Offer consumers a five-business-day right to cancel without penalty.
• Maintain no role in deciding whether, when, or for how much a legal claim is settled.

With AB 931, California joins a growing list of states that have enacted clear and fair regulation recognizing Consumer Legal Funding as a non-recourse, consumer-centered financial service—distinct from litigation financing and designed to help individuals meet their household needs while pursuing justice.

“We commend Assemblymember Kalra for his leadership and Governor Newsom for signing this important legislation,” said Schuller. “This act ensures that Californians who need temporary financial relief during their legal journey can do so safely, transparently, and responsibly.”

About the Alliance for Responsible Consumer Legal Funding (ARC)

The Alliance for Responsible Consumer Legal Funding (ARC) is a national association representing companies that provide Consumer Legal Funding, non-recourse financial assistance that helps consumers meet essential expenses while awaiting the resolution of a legal claim. ARC advocates for fair regulation, transparency, and consumer choice across the United States.

Harris Pogust Joins Bryant Park Capital as Senior Advisor

By John Freund |

Bryant Park Capital (“BPC”) a leading middle market investment bank and market leader in the litigation finance sector, is pleased to announce that Harris Pogust has joined the firm as a Senior Advisor.  Harris (Mr. Pogust) is one of the best known and prominent attorneys in the mass tort and class action fields, he was the founding partner and Chairman of Pogust Goodhead worldwide until early 2024 and is currently working with Trial Lawyers for a Better Tomorrow, a charity Harris founded, to help children reach their educational potential all over the world.  Harris’ life work has been to deliver justice for those who have been damaged or injured through the negligence or bad faith of others.

“We are thrilled to have Harris as part of our team.  His knowledge, experience and relationships in the litigation finance sector are of great value to Bryant Park and our clients.  As the litigation finance world becomes more competitive, complex and challenging, having an expert like Harris on our team is invaluable,” said Joel Magerman, Managing Partner of Bryant Park.

Harris’ efforts, in conjunction with Bryant Park will focus on assisting law firms and funders in developing strategies to more efficiently fund their operations and cases and assist them in establishing the right relationships for future growth.  Harris commented, “I have been fortunate to have been a practicing attorney and partner in law firms for over 35 years focused on building and growing a worldwide book of business in the class action/mass tort field.  That required significant capital and throughout my career I have raised over $1 billion for my firms.  I have learned what works and what doesn’t.  I have seen both the risks and rewards in this industry.  I look forward to being able to work with law firms and funders to assist them in putting the right strategies in place with Bryant Park and bringing capital and liquidity to help them grow and flourish.”

About Bryant Park Capital

Bryant Park Capital is an investment bank providing capital raising, M&A and corporate finance advisory services to emerging growth and middle market public and private companies. BPC has deep expertise and a diversified, well-founded breadth of experience in a number of sectors, including specialty finance & financial services. BPC has raised various forms of credit, growth equity, and assisted in mergers and acquisitions for its clients. Our professionals have completed more than 400 assignments representing an aggregate transaction value of over $30 billion.

For more information about Bryant Park Capital, please visit www.bryantparkcapital.com.