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Litigation Finance Pioneer Bentham IMF Breaks the Mold of Law and Finance, Completing Hires that Establish Gender Equality and Build on Specialized Expertise of Investment Management Team

Litigation Finance Pioneer Bentham IMF Breaks the Mold of Law and Finance, Completing Hires that Establish Gender Equality and Build on Specialized Expertise of Investment Management Team

NEW YORK (January 29, 2019) – Leading commercial litigation funder Bentham IMF has hired Sidley Austin LLP partner, Dana MacGrath, and Kirkland & Ellis LLP partner, Sarah Tsou, as investment managers and legal counsel responsible for sourcing and evaluating arbitration and commercial litigation matters that meet Bentham’s investment criteria. The company has also hired Chief of Staff, Tina Young, from Deloitte Consulting LLP. This marks the second round of hiring at the company since it launched its most recent fund in November 2018. Bentham and its parent company, IMF Bentham Limited (ASX:IMF), already stand out in the male-dominated industries of law and finance for having women throughout the ranks—including at the board of directors, senior management and investment management levels. These new hires, along with hires the company announced in December 2018, establish gender equality at a level where law firms and financial institutions have struggled to achieve it. The company’s ten-person senior investment management team in the U.S., which is comprised solely of lawyers in business-generating roles comparable to equity partner roles at law firms, now has an equal number of men and women. This achievement furthers the company’s tradition of setting high standards for diversity in the burgeoning industry it helped to form. The arrival of Dana and Sarah also strengthens the company’s ability to evaluate cases in areas of practice where demand for funding is high. Dana will be responsible for leading the company’s investments in international arbitration matters. She has long been a leading practitioner in international arbitration, having conducted arbitrations before the preeminent international arbitration institutions, as well as before ad hoc arbitration panels, and serving as an arbitrator herself. She has also represented U.S. and foreign parties in disputes regarding the enforceability of arbitration agreements and arbitral awards, forum selection and choice of law clauses, sovereign immunity and discovery in the international context. Sarah will enhance Bentham’s ability to evaluate intellectual property matters for investment, in particular patent litigation. She brings the perspective of a big firm lawyer who has spent over a dozen years representing clients ranging from start-ups to Fortune 100 companies in all aspects of complex litigation from inception to trial. In addition to litigating patent disputes spanning a broad range of technologies and industries, Sarah has also handled trade secret and trademark litigation and counseled clients in corporate acquisitions, licensing matters, and other transactions. Tina Young will play a management role for Bentham, drawing on more than 25 years’ experience working in the financial services and TMT industries for companies including JP Morgan Chase Bank, N.A., Morgan Stanley and Reuters America. Throughout her career, Tina has held senior leadership roles on global teams devoted to data management, leveraging industry and client insights, providing strategic sourcing solutions for risk and compliance, expense management and procurement. “Dana and Sarah will give us the unique competitive advantage of having the in-house expertise to rapidly evaluate arbitration matters and intellectual property litigation claims and invest in those most likely to help us sustain our 90% success rate,” said Allison Chock, Bentham’s US Chief Investment Officer. “We’re thrilled that recruiting the very best candidates for these roles also brought about the unintended but excellent circumstance of establishing a 50/50 gender balance on our senior investment team.” “The law firms and claimants that partner with Bentham choose to do so for the factors that set us apart from other funders: our unparalleled experience, our impressive track record, the simple and fair investment terms we offer, and access to a team comprised of litigators from top-tier law firms and litigation boutiques,” said Charlie Gollow, Bentham’s US Chief Executive. “Steadily building on our team’s specialized expertise, first with the 2017 hire of our bankruptcy funding specialistKen Epstein, and now with the hire of Dana and Sarah, furthers our ability to make Bentham the obvious financier to choose—for general commercial litigation, as well as bankruptcy, international arbitration, intellectual property and other types of matters.” The team’s newest hires are highly qualified in their respective fields. Dana has been recognized as a leading practitioner of international arbitration in various directories, including Chambers USA, Who’s Who Legal: Arbitration, Latinvex in “Latin America’s Top 100 Female Lawyers” and Expert Guides’ Guide to the World’s Leading Experts in Commercial Arbitration. She is the current President of the Board of Directors of ArbitralWomen, an international nonprofit organization that promotes women and diversity in international dispute resolution. She is also a member of several other professional associations. She is an adjunct professor of law at Brooklyn Law School, where she teaches a seminar on international commercial arbitration and coaches the Brooklyn Vis International Commercial Arbitration Moot team. Dana earned her J.D. from New York University School of Law and her B.A. cum laude, from Middlebury College. Sarah has tried numerous cases before federal district juries and judges, arbitration panels, and the U.S. Patent Office, and she joins Bentham just weeks after her latest jury trial win. Working with the world’s premier intellectual property trial lawyers, she has secured significant verdicts and judgments for both plaintiffs and defendants, including some over $100 million. Sarah and her cases have been recognized in The American LawyerLaw360 and other publications. Most recently, one of her successes was profiled by Law360 in its announcement naming her former firm a 2018 IP Group of the Year. In addition to taking various committee leadership roles at her former firm, Sarah was a recipient of the Kirkland & Ellis LLP Pro Bono Service Award. She earned her JD from New York University School of Law and her BA from Washington University in St. Louis, graduating summa cum laude, with Highest Honors. ABOUT BENTHAM IMF Bentham IMF is the US arm of publicly listed IMF Bentham Limited (ASX: IMF), one of the most successful litigation funding companies in the world, and one of only two Chambers and Partners “Band One” litigation funding companies in the US, with a portfolio that has a total claim’s estimated recoverable amount of $5.6 billion AUD. Together, our companies have 14 offices throughout the US, UK, Australia, Canada and Asia and provide funding to clients in jurisdictions including the US, UK, Europe, Australia, Canada, New Zealand, Hong Kong and Singapore. We have reviewed thousands of commercial cases in the past 17 years, funding to completion 179 cases and generating $2.3 billion AUD in recoveries. We have achieved a 90% success rate, with clients utilizing our funding retaining an average of 62% of all case proceeds. For further information regarding Bentham IMF and its activities, please visit www.benthamimf.com. DISCLAIMER Nothing herein should be construed as an offer to buy or sell, nor a solicitation of an offer to buy or sell, any security or other financial instrument, or to invest assets in any account managed or advised by Bentham IMF or its affiliates.
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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.