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

May 2, 2022

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 Commercial People Moves

Pogust Goodhead Appoints Gemma Anderson as Partner, Strengthening Mariana Leadership Team 

By John Freund |

Pogust Goodhead today announces the appointment of Gemma Anderson as partner, a standout addition that reflects the firm’s continued growth and investment in senior talent as the Mariana case advances through the High Court in London. 

Gemma will work on the Mariana litigation alongside Jonathan Wheeler, who leads the case for the firm. Her appointment reunites the pair after fourteen years working together at Morrison & Foerster, where they collaborated on numerous high-stakes disputes. 

Gemma is a highly experienced commercial litigator specialising in complex cross-border disputes. She joins PG from Quinn Emanuel’s London office, where she has spent the last two years as a partner focused on significant, high value commercial cases.  

Alicia Alinia, CEO at Pogust Goodhead, said: “Gemma’s appointment is a fantastic moment for Pogust Goodhead. Her arrival is a clear signal of the team and platform we are building for the future - deep expertise, strong leadership, and the capacity to run major international cases at scale. We’re delighted to welcome her as a partner”. 

Jonathan Wheeler, partner and lead for the Mariana litigation, said: “Gemma is an exceptional disputes lawyer and a natural fit for the Mariana team. We worked closely for fourteen years at Morrison & Foerster, and I’ve seen first-hand the rigour and relentless drive she brings to complex cross-border matters. Her appointment strengthens our ability to deliver for clients as we build on the milestone liability decision and move into the next phase of the case.” 

Gemma Anderson said:  “I’m thrilled to be joining Pogust Goodhead at such a pivotal moment for the Mariana litigation. This is a truly landmark case - not only for the communities affected, but for what it represents globally on access to justice and corporate accountability. I’m looking forward to working with Jonathan and the wider team to help secure a fair outcome for hundreds of thousands of victims.” 

The Mariana proceedings in England involve over 600,000 Brazilian individuals, businesses, municipalities, religious institutions and Indigenous communities affected by the 2015 Fundão dam collapse in Minas Gerais, Brazil. Following the English court’s decision on liability on 14 November 2025, the case is now in its second stage, focused on damages and the quantification of losses. 

Announcements Case Developments Commercial

High Court Refuses BHP Permission to Appeal Landmark Mariana Liability Judgment 

By John Freund |

Pogust Goodhead welcomes the decision of Mrs Justice O’Farrell DBE refusing BHP’s application for permission to appeal the High Court’s judgment on liability in the Mariana disaster litigation. The ruling marks a major step forward in the pursuit of justice for over 620,000 Brazilian claimants affected by the worst environmental disaster in the country’s history. 

The refusal leaves the High Court’s findings undisturbed at first instance: that BHP is liable under Brazilian law for its role in the catastrophic collapse of the Fundão dam in 2015. In a landmark ruling handed down last November, the Court found the collapse was caused by BHP’s negligence, imprudence and/or lack of skill, confirmed that all claimants are in time and stated that municipalities can pursue their claims in England. 

In today’s ruling, following the consequentials hearing held last December, the court concluded that BHP’s proposed grounds of appeal have “no real prospect of success”. 

In her judgment, Mrs Justice O’Farrell stated:  “In summary, despite the clear and careful submissions of Ms Fatima KC, leading counsel for the defendants, the appeal has no real prospect of success. There is no other compelling reason for the appeal to be heard. Although the Judgment may be of interest to other parties in other jurisdictions, it is a decision on issues of Brazilian law established as fact in this jurisdiction, together with factual and expert evidence. For the above reasons, permission to appeal is refused”. 

At the December hearing, the claimants - represented by Pogust Goodhead - argued that BHP’s application was an attempt to overturn detailed findings of fact reached after an extensive five-month trial, by recasting its disagreement with the outcome as alleged procedural flaws. The claimants submitted that appellate courts do not re-try factual findings and that BHP’s approach was, in substance, an attempt to secure a retrial. 

Today’s judgment confirmed that the liability judgment involved findings of Brazilian law as fact, based on extensive expert and factual evidence, and rejected the defendants’ arguments, who now have 28 days to apply to the Court of Appeal.  

Jonathan Wheeler, Partner at Pogust Goodhead and lead of the Mariana litigation, said:  “This is a major step forward. Today’s decision reinforces the strength and robustness of the High Court’s findings and brings hundreds of thousands of claimants a step closer to redress for the immense harm they have suffered.” 

“BHP’s application for permission to appeal shows it continues to treat this as a case to be managed, not a humanitarian and environmental disaster that demands a just outcome. Every further procedural manoeuvre brings more delay, more cost and more harm for people who have already waited more than a decade for proper compensation.” 

Mônica dos Santos, a resident of Bento Rodrigues (a district in Mariana) whose house was buried by the avalanche of tailings, commented:  "This is an important victory. Ten years have passed since the crime, and more than 80 residents of Bento Rodrigues have died without receiving their new homes. Hundreds of us have not received fair compensation for what we have been through. It is unacceptable that, after so much suffering and so many lives interrupted, the company is still trying to delay the process to escape its responsibility." 

Legal costs 

The Court confirmed that the claimants were the successful party and ordered the defendants to pay 90% of the claimants’ Stage 1 Trial costs, subject to detailed assessment, and to make a £43 million payment on account. The Court also made clear that the order relates to Stage 1 Trial costs only; broader case costs will depend on the ultimate outcome of the proceedings. 

The costs award reflects the scale and complexity of the Mariana case and the way PG has conducted this litigation for more than seven years on a no-win, no-fee basis - funding an unprecedented claimant cohort and extensive client-facing infrastructure in Brazil without charging clients. This recovery is separate from any damages award and does not reduce, replace or affect the compensation clients may ultimately receive. 

Announcements Commercial Fundraising

Sigma Funding Secures $35,000,000 Credit Facility, Bryant Park Capital Serves as Financial Advisor

By John Freund |

Bryant Park Capital (“BPC”) announced today that Sigma Funding has recently closed a $35 million senior credit facility with a bank lender. Sigma Funding is a rapidly growing litigation finance company focused on providing capital solutions across the legal ecosystem.

Sigma’s experienced executive team oversees a portfolio of businesses spanning insurance-linked litigation and other sectors, bringing a proven track record of successful growth and meaningful exits.

Bryant Park Capital, a leading middle-market investment bank, served as financial advisor to Sigma Funding in connection with the transaction.

“Bryant Park Capital was an indispensable advisor to Sigma and worked closely with our management team throughout the process,” said Charlit Bonilla, CEO of Sigma Funding. “BPC’s experience in the litigation finance space was critical in identifying potential banking partners and ultimately structuring our credit facility. Their extensive industry knowledge helped bring this deal to a successful close, and we are grateful for their support. We look forward to doing more business with the BPC team.”

About Sigma Funding

Founded in 2021, Sigma Funding is a leading New York–based litigation funding platform that provides pre- and post-settlement advances to plaintiffs involved in contingency lawsuits, as well as financing solutions for healthcare providers and attorneys. The company is the successor to the founders’ prior venture, Anchor Fundings, a pre-settlement litigation funder that was acquired by a competitor. 

For more information about Sigma Funding, please visit www.sigmafunding.com.

About Bryant Park Capital

Bryant Park Capital is an investment bank providing M&A and corporate finance advisory services to emerging growth and middle-market public and private companies. BPC has deep expertise across several sectors, including specialty finance and financial services. The firm has raised various forms of credit and growth equity and has advised on mergers and acquisitions for its clients. BPC professionals have completed more than 400 engagements representing an aggregate transaction value exceeding $30 billion.

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