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ILFA Names New Chairman, Board of Directors, and Executive Committee

The International Legal Finance Association (ILFA) today announced its new board of directors, executive committee members, and Chairman.

“As legal finance matures, ILFA’s role as the voice of the industry is critical to communicating how litigation finance benefits society and business by supporting the rule of law across the world,” said Gary Barnett, Executive Director of ILFA. “I am thrilled to announce our new Board—led by Therium’s Neil Purslow, that will help to shape the future of this global industry.”

“I also want to thank our outgoing launch Chairman Leslie Perrin for his service and dedication to our association and the industry at-large. Under his leadership, we have successfully transitioned to a new organizational structure, one that well positions ILFA as the voice of the global legal finance industry. I further appreciate his willingness to provide, and look forward to, his continued counsel as we move forward.”

Neil Purslow, Chairman of ILFA said: “It is an honour to take over as Chairman of ILFA from Leslie who is one of the pioneers of legal finance and I am grateful for his continued commitment to shaping the future of this important industry.  I look forward to working with Gary, fellow board members and colleagues across the industry to support the continued growth and sustainable development of legal finance so that it can continue to provide much needed capital solutions and investment in the law.”

The Board of Directors is comprised of members who serve on a volunteer basis and includes senior leaders and founders of global commercial legal finance companies. The Board members include:

  • Jonathan Barnes, Chief Operating Officer at Woodsford Group Ltd.
  • Christopher Bogart, Chief Executive Officer at Burford Capital
  • Christopher DeLise, Chief Executive Officer at Delta Capital
  • Susan Dunn, Co-Founder at Harbour Litigation Funding
  • Allen Fagin, Board Member and Senior Advisor at Validity Finance
  • William P. Farrell, Jr., Managing Director and General Counsel at Longford Capital
  • David Gallagher, Senior Vice President at D.E. Shaw & Co., L.P.
  • Ian Garrard, Managing Director at Innsworth Advisors
  • David Icikson, Chief Operating Officer at Parabellum
  • Kevin McCaffrey, Chief Executive Officer at Law Finance Group
  • Hassan Murphy, Managing Partner at TRGP Investment Partners LP
  • Jack Neumark, Managing Director at Fortress Investment Group
  • Neil Purslow, Co-Founder and Chief Investment Officer at Therium
  • Andrew Saker, Chief Executive Officer and Managing Director at Omni Bridgeway
  • Marcel Wegmüller, Co-Founder and Co-Chief Executive Officer at Nivalion

The Board of Directors named the following executive committee members:

  • Chairman: Neil Purslow co-founded Therium in 2008 and is the firm’s Chief Investment Officer. A solicitor with over 22 years’ experience, he was previously Litigation Counsel in-house for Marsh & MacLennan Companies, Inc. (MMC), prior to which he was in practice in the City of London with US firm Reed Smith and Withers. Neil has led investments in litigation and arbitration valued in excess of $15 billion, including many of the largest and most high-profile funded cases in the market. He is also a founding board member of the Association of Litigation Funders, the self-regulatory body for the industry in England and Wales and is regularly invited to speak at conferences and quoted in the media on issues related to the industry. Since it was first published in 2018, Neil has been consistently recognized as a leading individual in the litigation funding industry by Chambers and Partners. He gained an MA in Jurisprudence from the University of Oxford in 1995.
  • Officers: Christopher DeLise is the Chief Executive Officer of Delta Capital. Previously, Mr. DeLise was an Equity Partner at K&L Gates LLP his practice focused on representing investment funds, financial institutions, Fortune 500 companies, and institutional and individual investors in matters ranging from fund formation and governance to compliance, and from cross-border M&A and strategic and financing transactions to all facets of starting, operating and selling technology companies. Mr. DeLise also served as Chairman of the Private Investment Funds practice group at Husch Blackwell LLP, and prior to that was an attorney in the private equity practice group of DLA Piper LLP. In 2008, he was one of only 86 attorneys in the U.S. named to the BTI M&A Transactional All-Star Team based on a survey of Fortune 1000 companies, and in 2011 he was named a 2011 Illinois Super Attorney by his legal peers.
    • Susan Dunn is co-founder of Harbour Litigation Funding and is one of the most experienced and well-known professionals in the funding sector. A pioneer of litigation funding in the UK, Susan has been sourcing and investing for over 15 years’ and during this time has provided significant input to the development of public policy. Susan was a founding member of the Association of Litigation Funders of England and Wales, and continues to play an important role with this body. Susan has previously worked as a litigator in the UK and the US where she was also a diplomat (Vice-Consul Investment), for the British Government.
    • Jack Neumark is a Managing Director, serving on the investment committee for the Credit Funds. Mr. Neumark also heads the Legal Assets Group of the Credit Funds Business at Fortress Investment Group LLC and is a member of the management committee of Fortress. Prior to joining Fortress, Mr. Neumark was a Senior Vice President at Plainfield Asset Management, a large-distressed debt hedge fund based in Greenwich, CT where he was involved in distressed debt and special situations investments.  Mr. Neumark also previously practiced law at Wachtell, Lipton, Rosen & Katz in the restructuring and finance group, and at Simpson Thatcher & Bartlett LLP in the corporate group.
    • Andrew Saker is the Chief Executive Officer and Managing Director of Omni Bridgeway and is based in the New York office. Andrew was a partner at a leading provider of corporate recovery, insolvency management and restructuring services throughout Australia and Asia for 16 years.  During this period, he managed the Indonesian and Perth operations and assisted with billion-dollar cross-border restructuring assignments throughout the world including in Indonesia, the Philippines, Singapore, China, Argentina, Kazakhstan, Europe, the US and Canada.  Mr Saker has managed hundreds of large claims across a range of industries including mining, telecommunications, energy, aquaculture, property, manufacturing, infrastructure, banking and finance.
    • Marcel Wegmüller is a co-founder and co-CEO of Nivalion. Marcel has over 10 years’ experience in international disputes funding and established and led the first Swiss litigation funder. Previously, he held various senior positions at Credit Suisse Group. He holds a master’s in law degree from the University of Zurich, is admitted to the Swiss bar and has completed executive programs at INSEAD and London Business School (LBS). He is recognized by Who’s Who Legal as a Thought Leader in Third Party Funding and by Lawdragon as an outstanding litigation funder.

ILFA also recently announced Delta Capital Partners Management LLC, a U.S.-based private equity and advisory firm specializing in litigation finance, judgment enforcement, asset recovery, and related strategies, as its newest member.

About the International Legal Finance Association

ILFA represents the global commercial legal finance community, and its mission is to engage, educate and influence legislative, regulatory and judicial landscapes as the global voice of the commercial legal finance industry. It is the only global association of commercial legal finance companies and is an independent, non-profit trade association promoting the highest standards of operation and service for the commercial legal finance sector. ILFA is incorporated in Washington, DC, and will have chapter representation around the world. For more information, visit www.ilfa.com and find us on Twitter @ILFA_Official and LinkedIn.

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Announcements Case Developments Commercial

Australian Google Ad Tech Class Action Commenced on Behalf of Publishers

By Harry Moran |

A class action was filed on 16 December 2024 on behalf of QNews Pty Ltd and Sydney Times Media Pty Ltd against Google LLC, Google Pte Ltd and Google Australia Pty Ltd (Google). 

The class action has been commenced to recover compensation for Australian-domiciled website and app publishers who have suffered financial losses as a result of Google’s misuse of market power in the advertising technology sector. The alleged loss is that publishers would have had significantly higher revenues from selling advertising space, and would have kept greater profits, if not for Google’s misuse of market power. 

The class action is being prosecuted by Piper Alderman with funding from Woodsford, which means affected publishers will not pay costs to participate in this class action, nor will they have any financial risk in relation to Google’s costs. 

Anyone, or any business, who has owned a website or app and sold advertising space using Google’s ad tech tools can join the action as a group member by registering their details at www.googleadtechaction.com.au. Participation in the action as a group member will be confidential so Google will not become aware of the identity of group members. 

The class action is on behalf of all publishers who had websites or apps and sold advertising space using Google’s platforms targeted at Australian consumers, including: 

  1. Google Ad Manager (GAM);
  2. Doubleclick for Publishers (DFP);
  3. Google Ad Exchange (AdX); and
  4. Google AdSense or AdMob. 

for the period 16 December 2018 to 16 December 2024. 

Google’s conduct 

Google’s conduct in the ad tech market is under scrutiny in various jurisdictions around the world. In June 2021, the French competition authority concluded that Google had abused its dominant position in the ad tech market. Google did not contest the decision, accepted a fine of €220m and agreed to change its conduct. The UK Competition and Markets Authority, the European Commission, the US Department of Justice and the Canadian Competition Bureau have also commenced investigations into, or legal proceedings regarding, Google’s conduct in ad tech. There are also class actions being prosecuted against Google for its practices in the ad tech market in the UK, EU and Canada. 

In Australia, Google’s substantial market power and conduct has been the subject of regulatory investigation and scrutiny by the Australian Competition and Consumer Commission (ACCC) which released its report in August 2021. The ACCC found that “Google is the largest supplier of ad tech services across the entire ad tech supply chain: no other provider has the scale or reach across the ad tech supply chain that Google does.” It concluded that “Google’s vertical integration and dominance across the ad tech supply chain, and in related services, have allowed it to engage in leveraging and self-preferencing conduct, which has likely interfered with the competitive process". 

Quotes 

Greg Whyte, a partner at Piper Alderman, said: 

“This class action is of major importance to publishers, who have suffered as a result of Google’s practices in the ad tech monopoly that it has secured. As is the case in several other 2. jurisdictions around the world, Google will be required to respond to and defend its monopolistic practices which significantly affect competition in the Australian publishing market”. 

Charlie Morris, Chief Investment Officer at Woodsford said: “This class action follows numerous other class actions against Google in other jurisdictions regarding its infringement of competition laws in relation to AdTech. This action aims to hold Google to account for its misuse of market power and compensate website and app publishers for the consequences of Google’s misconduct. Working closely with economists, we have determined that Australian website and app publishers have been earning significantly less revenue and profits from advertising than they should have. We aim to right this wrong.” 

Class Action representation 

The team prosecuting the ad tech class action comprises: 

  • Law firm: Piper Alderman
  • Funder: Woodsford
  • Counsel team: Nicholas de Young KC, Simon Snow and Nicholas Walter
Announcements Consumer

Rockpoint Legal Funding Shines at Consumer Attorneys of California Annual Convention

By Harry Moran |

Rockpoint Legal Funding proudly participated in the annual conference hosted by the Consumer Attorneys of California (CAOC), showcasing its commitment to supporting legal professionals and their clients. As the only funding company endorsed by CAOC, Rockpoint Legal Funding leveraged this premier event to connect with new and prospective partners reinforcing its position as a trusted funder within California's legal community.

The CAOC is a prestigious network of attorneys dedicated to protecting the rights of California consumers. Each year, the organization hosts its annual convention, bringing together some of the brightest legal minds and innovators in the industry. For Rockpoint Legal Funding, this event was an invaluable opportunity to demonstrate its unwavering dedication to empowering attorneys and their clients through tailored legal funding solutions.

During the convention, Rockpoint operated a booth where team members engaged with attendees, offering insights into the company's services and how they benefit both legal professionals and consumers seeking justice. From new attorneys looking for funding solutions to established firms aiming to streamline their case workflows, Rockpoint provided personalized advice and showcased its comprehensive suite of legal funding options.

"Rockpoint is proud to partner with the Consumer Attorneys of California. We take a lot of pride in serving the attorneys and their clients of this prestigious organization," said Ramtin Ghaneeian, Founding Partner of Rockpoint Legal Funding. His statement highlights the company's commitment to strengthening its collaboration with CAOC and continuing to support its mission of safeguarding the rights of California consumers.

President of Rockpoint Legal Funding, Maz Ghorban, emphasized the value of building strong relationships at events like this, stating, "It's a privilege to connect with our law firm partners at the CAOC convention each year while ensuring our values align with protecting California consumers through legal recourse."

Rockpoint's presence at the CAOC annual convention underscores its dedication to fostering meaningful connections within the legal community. By being the only CAOC-endorsed funding company, Rockpoint reinforces its credibility and reliability in the legal funding landscape. This endorsement is a testament to Rockpoint's shared vision with CAOC in championing consumer rights and providing critical support to those navigating the justice system.

For attorneys and law firms, Rockpoint Legal Funding offers a variety of non-recourse funding solutions, ensuring clients have the financial support they need during ongoing litigation. This commitment aligns perfectly with CAOC's mission to advocate for justice and fairness for California consumers.

As Rockpoint continues to deepen its relationships with legal professionals, events like the CAOC annual convention remain a cornerstone of its outreach efforts. The company looks forward to future collaborations and furthering its impact within the legal community.

For more information about Rockpoint Legal Funding and its services, visit Rockpointlegalfunding.com or call (855) 582-9200.

About Rockpoint Legal Funding

Rockpoint Legal Funding is a leading provider of non-recourse legal funding solutions, serving attorneys and their clients with unparalleled expertise and care. With a mission to empower justice and support favorable case outcomes, Rockpoint is committed to providing financial assistance during critical times, ensuring no one is denied access to legal recourse due to financial constraints.

Announcements Commercial Fundraising

Nera Capital Secures Additional $25 million in New Funding Deal

By Harry Moran |

Top litigation finance firm Nera Capital is ending the year on a high with the announcement of yet another successfully closed funding deal, this time securing $25 million to bolster UK consumer protection claims.

The funding, secured through a US-based investment partner, reflects yet another significant milestone for the firm as it continues to build momentum and strengthen its foothold in the market. 

This recently closed funding deal builds on a prosperous year of growth for Nera Capital, further demonstrating its capabilities across the globe. The investment will be directed towards advancing claims that protect UK consumers, enabling greater access to justice for individuals seeking redress.

With offices in Dublin, Manchester, and Amsterdam, Nera Capital has consistently demonstrated its commitment to driving innovation and impact in litigation finance worldwide. This latest funding announcement underscores Nera Capital’s ability to forge strategic international partnerships that deliver meaningful results. 

In 2024, Nera have hit record numbers of settlements, deployment and company profitability but also grown major portfolio positions in Europe and the USA.

Aisling Byrne, Director at Nera Capital, commented on the announcement: “We are happy to have closed yet another significant funding deal, further cementing our position as a leading force in consumer protection litigation. We anticipate this initial facility figure will increase as our partnership strengthens and thrives over time.

She added: “This is not just about financial growth; it’s about expanding our ability to make a difference. With this funding, we are reinforcing our commitment to fairness and justice, empowering consumers, and holding organisations accountable.”

The announcement follows the recent launch of Nera Capital’s £250,000 Access to Justice Fund, aimed at providing legal and financial support to those who may otherwise face barriers to justice.

The firm’s efforts come at a time of heightened focus on consumer rights across the world, driven by evolving legal frameworks, increased attention to data privacy, and growing concerns about sustainability and corporate accountability.

“This funding is another step forward in a year of tremendous progress for Nera Capital,” Aisling continued.

“As we look to 2025, we remain committed to leveraging our resources and expertise to protect consumers and advocate for justice on both sides of the Atlantic.“ 

About Nera Capital 

·       Established in 2011, Nera Capital is a specialist funding provider to law firms.  

·       Provides Law Firm Lend funding across diverse claim portfolios in both the Consumer and Commercial sector. 

·       Headquartered in Dublin, the firm also has offices in Manchester and Holland. 

·       Member of European Litigation Funders Association

.     www.neracapital.com