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Community Spotlight: Noah Wortman, Founder and CEO, NRW Consulting

By Harry Moran |
January 17, 2025

Community Spotlight: Noah Wortman, Founder and CEO, NRW Consulting

As Founder and CEO of NRW Consulting, Noah brings his extensive experience in assessing and analyzing corporate misconduct in the financial markets, as well as his commitment to finding global litigation and shareholder engagement solutions to investors across the world. He has extensive experience advocating for global investors, promoting corporate governance and investor stewardship, and implementing strategies to achieve collective redress.

Noah splits his time between Philadelphia and London with a global remit where he strives to provide access to justice for global institutional investors (including financial institutions, superannuation schemes, asset managers and owners, and sovereign wealth and pension funds) and others via engagement and litigation strategies including global shareholder litigation (class/group, opt-out/direct, and opt-in), antitrust/competition/cartel litigation, complex financial litigation, global privacy/data breach litigation, and global patent litigation.

Most recently, Noah was Director of Global Collective Redress at Pogust Goodhead and immediately prior was Senior Manager, Collective Redress at Omni Bridgeway where he worked with global institutional investors to implement litigation funding strategies to aid in exercising their shareholder rights in seeking legal redress from publicly listed companies where an alleged wrongdoing had occurred.

Noah is a frequent speaker around the globe on the topic of shareholder legal redress, recovery, rights and responsibilities. He has also been a member of several leading global institutional investor organizations and currently serves on the Advisory Board of Perfect Law’s Global Class Action and Mass Torts Conference. He has also served on the International Corporate Governance Network’s (ICGN) Global Stewardship Committee and its former Shareholder Responsibilities Committee, the Sovereign Wealth Fund Institute’s Event Advisory Board, and the Council of Institutional Investors’ Markets Advisory Council.

Company Name and Description:  NRW Consulting supports, recommends, and creates pathways to recovery for global investors and consumers harmed by corporate misconduct, including securities fraud, market manipulation, and violations of global regulatory requirements.  

Company Website: https://www.nrwconsultingllc.com 

Year Founded:  2018

Headquarters:  Consulting globally. Operating out of Philadelphia and London.

Area of Focus: When value erosion has been caused by corporate misconduct or fraud within an investee company, there are established and effective remedies for restitution. One of the most successful recourses is collective redress through group or class actions. Institutional investors have successfully used this option around the world to recover significant sums on behalf of beneficiaries.

With diverse global investor portfolios, institutional investors may need to consider class actions in multiple countries. Therefore, pursuing claims through class actions, direct actions, shareholder derivative actions, and/or funded group actions offers the opportunity to, on a de-risked basis: hold wrongdoers to account, influence corporate conduct and governance, or potentially institute corporate governance reform.

Noah also sits on the Advisory Board of Perfect Law. Perfect Law presents the annual Global Class Actions and Mass Torts Conference that takes place in London (https://www.perfectlaw.co.uk). The conference brings together a vertiable who’s who of the global collective redress community including judges, academics, practitioners, funders, industry providers and experts from all over the world to discuss, debate and learn from each other regarding the cases and issues of the day with the common goal of furthering access to justice.

Member Quote: “Litigation funding is a cornerstone of access to justice, allowing investors, consumers, individuals, organizations, and communities to seek legal recourse and exercise their right to pursue legitimate claims regardless of their financial circumstances. By enabling cases to proceed on their merits, it upholds fairness and accountability within the legal system, offering a powerful means to hold corporate wrongdoers to account.” 

About the author

Harry Moran

Harry Moran

Commercial

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Commercial

FCA Warns Consumers Over Loan Notes and Mini-Bonds, Citing Litigation Funder Collapse

The Financial Conduct Authority has issued a consumer warning on high-risk mini-bonds and loan notes sold by unregulated firms, pointing directly to the collapse of a litigation funder as an illustration of what can go wrong.

As reported by Money Marketing, the regulator told consumers they could lose their entire investment in such products, and highlighted the failure of Woodville Consultants, which raised capital from retail investors through unregulated loan notes before entering administration. The FCA permanently banned the marketing of speculative illiquid securities, including mini-bonds and loan notes, to retail consumers in 2021, yet the products continue to surface in online advertising.

The regulator set out a series of warning signs for investors: pressure to commit quickly, vague explanations of how money could be lost, unsubstantiated claims that an investment is asset-backed, the involvement of unregulated introducers, pressure to self-certify as an experienced or high-net-worth investor, unclear fee structures and conflicts of interest, and attempts to create a false impression of legitimacy through links to regulated firms or overseas listings.

Lucy Castledine, the FCA's director of consumer investments, said: "Big, fixed returns are a warning sign, not a guarantee." The regulator has issued more than 1,200 warnings during 2026 and urged consumers to use its Firm Checker tool before parting with money. Separately, City AM reported that Woodville defaulted owing over £240m to investors. For the funding industry, the episode marks a shift in how regulators frame the sector's retail-facing edge — not as a niche investment product, but as a consumer protection problem.

Commercial

Investigation Traces How Collapsed Funder Woodville Raised More Than £300m From Retail Investors

A new investigation has reconstructed how Woodville Consultants, the Welsh litigation funder that collapsed into administration in July 2026, raised in excess of £300m from individual investors to bankroll law firms pursuing car finance commission claims.

As reported by Car Dealer Magazine, drawing on an investigation by The Times, Woodville continued raising money through unregulated loan notes after the Financial Conduct Authority asked the business in 2022 to cease financial promotions relating to investments or loans. In that same year the regulator placed Integrity Protect No 1 — a company run by directors Ann Marie Bell and Peter Legge — under restrictions over its handling of loan notes, citing evidence of borrowing funds via loan notes using Woodville's bank account.

The fundraising reached well beyond the UK, with the operation expanding to target investors in South America, Europe and Africa. It drew on sales networks connected to failed investment schemes, including the 79th Group, which is the subject of a City of London Police fraud investigation. Promoters are reported to have earned commissions of 10% to 15%, which some investors say were never disclosed to them.

Robert Goodhew of Kroll, appointed as administrator, said: "Based on the information currently available to us, we believe that more than £300 million has been raised from investors." Administrators are now examining how assets were distributed, whether the underlying legal claims were viable, payments made to third parties, and whether the business model was sustainable at all. The case has become the sharpest example yet of the risks created when consumer claims funding is financed from the retail investment market rather than institutional capital.

Commercial

Brazilian Funder Sues Pogust Goodhead for £84m Over Handling of Litigation Proceeds

The law firm at the centre of the largest group claim in English legal history is being sued by one of its own funders, in a dispute that turns on how litigation proceeds are routed once they reach a firm's client account.

As reported by City AM, Brazilian financial services firm Vinci SPS Capital Gestão de Recursos Ltda has issued High Court proceedings against Pogust Goodhead, seeking £84m plus roughly £600,000 in legal costs arising from pre-action correspondence and an earlier injunction application. Vinci SPS originally advanced 90.09m Brazilian Reais, or about £12.8m, to the firm.

The claim centres on an interim costs payment of £42.7m that landed in Pogust Goodhead's client account. Vinci SPS alleges the firm breached its obligations by agreeing to disburse litigation proceeds to barristers and after-the-event insurers without lender consent, and by failing to move the £42.7m into a designated receivables account — an account the funder says took more than four and a half years to open. Pogust Goodhead's position is that it cannot transfer the money until it invoices its claimants, and cannot invoice until it discharges a trust operating in favour of its ATE insurers. Vinci SPS contends its own rights take priority. Fieldfisher acts for the funder; DAC Beachcroft is defending the firm.

The proceedings arrive against a heavily financed backdrop. Gramercy Funds Management, a separate funder, signed a $552.5m facility with Pogust Goodhead in October 2023 and added a further $150m in June 2026. The firm was also sued by Seladore Legal for £2.2m in May 2025. Its flagship matter remains the BHP litigation over the 2015 Brazilian dam disaster that killed 19 people, in which the High Court found BHP liable in November 2025. The next phase of that trial, dealing with causation and loss, begins in April 2027.