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Litigation Funder Validity Finance Expands to Israel, Taps Noted U.S. Litigation and International Arbitration Lawyer Eli Schulman to Head the First Israel Office of a U.S. Funder

June 2, 2020

Litigation Funder Validity Finance Expands to Israel, Taps Noted U.S. Litigation and International Arbitration Lawyer Eli Schulman to Head the First Israel Office of a U.S. Funder

TEL AVIV (June 2, 2020) – Leading U.S. litigation funder Validity Finance has opened its first international office, in Tel Aviv, recruiting prominent international-disputes lawyer Eli Schulman to head its Israel operations. Validity is the first U.S.-based funder to open an office in Israel. As co-founder of boutique litigation firm Schulman & Charish LLP, with affiliates in New York and Israel since 2010, Mr. Schulman has extensive experience representing Israeli clients in complex U.S. business litigation and international arbitration. He has advised companies across Israel’s dynamic high-tech sector, as well as those in established industries and the State of Israel itself. Validity’s new Israel office marks the company’s fourth, alongside U.S. offices in New York, Chicago, and Houston. “This is a new day in Israel. We’re pleased to be the first U.S. funder on the ground, helping Israeli businesses secure critical capital to monetize commercial disputes and manage economic risk in a way that doesn’t drain operations and growth,” said Validity CEO Ralph Sutton. “We’re especially pleased to have Eli Schulman on board to lead our efforts in Israel. In addition to being an outstanding international disputes lawyer with a track record of success, he has experience using litigation funding in his own practice. With his reputation and appreciation for the needs of Israeli clients, Eli is uniquely qualified to help Israeli companies and law firms finance disputes on fair and ethical terms,” commented Sutton, who has known Mr. Schulman for years. A frontier for entrepreneurship, Israel leads the globe in per capita R&D spending, with a record number of startups, access to venture capital and more companies listed on the NASDAQ than China. Validity expects to invest in outbound cases on behalf of Israeli companies involving a range of contractual disputes, patent infringement, and other matters resolved in U.S. courts or international arbitration. Dispute Funding During COVID-19 Crisis Validity, like many other companies, has been operating remotely since mid-March. It has seen a significant increase in new case leads since then. These leads arise from law firms looking to stabilize their operations and a large number of clients in newfound need of capital for continued litigation. Validity’s Chief Risk Officer, Dave Kerstein notes, “We are committed to sustaining clients and law firms during the pandemic, and, as the sole US-based firm to operate in Israel, we anticipate many opportunities.” Israel’s handling of the coronavirus crisis has won praise across the globe with a wider return to business expected in the near term, and attending litigation and arbitration in need of capital. Mr. Schulman is recognized among leading dispute-resolution practitioners worldwide by Legal 500 and Chambers, which most recently described him as “dedicated and sophisticated.” He has been active in the international-arbitration community, including as a member of the ICC Commission on Arbitration and ADR. He is a fellow of the Chartered Institute of Arbitrators. Earlier in his career, Mr. Schulman clerked for then-Chief Judge Michael B. Mukasey of the U.S. District Court for the Southern District of New York. Mr. Schulman worked in elite litigation practice at Cahill Gordon in New York and Kellogg Hansen in Washington, D.C. Mr. Schulman also served in the Department of International Affairs at the Israeli Ministry of Justice. A former Fulbright fellow at The Hebrew University of Jerusalem, Mr. Schulman received his A.B. from Columbia University and holds a J.D. from Harvard Law School. “I’m delighted to join Validity’s exceptional team of former trial lawyers and investment professionals to expand dispute funding arising in Israel,” Mr. Schulman said. “While running a New York- and Israel-based disputes firm the past decade, I saw first-hand the need for companies to finance legal challenges. I’m excited to be Validity’s point person for disputes that emanate from Israel.” About Validity: Validity is a commercial litigation finance company that provides businesses, law firms and individuals with non-recourse financing for a wide variety of commercial disputes. Validity was founded in 2018 with $250 million in committed, one of the largest first-round capital raises in the U.S. market. The firm announced an additional $50 million in capital in 2019. Validity believes that capital and legal expertise combine to help solve legal problems on behalf of clients. Validity’s mission is to make a meaningful difference for clients by focusing on fairness, innovation, and clarity.  For more, visit www.validity-finance.com.

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Court of Appeal Shuts Down BHP’s Attempt to Overturn Mariana Liability Judgment

By John Freund |

The Court of Appeal of England and Wales today refused BHP’s application for permission to appeal the High Court’s landmark liability judgment in the Mariana disaster litigation.

The High Court found BHP responsible for the 2015 collapse of the Fundão tailings dam in Mariana, Minas Gerais, Brazil, concluding that BHP is liable for the disaster under both the Brazilian Civil and Environmental law.

The Court of Appeal heard BHP’s application for permission to appeal the decision on 12 March after BHP was refused permission to appeal by the High Court in January.  BHP asked the court for permission to contest the findings that it was a polluter, and that it had knowledge of the risks associated with the dam before the collapse. The mining company also challenged the finding that all claimants brought their claims in time.

The Court of Appeal’s refusal marks a further victory for the hundreds of thousands of Brazilian victims who have spent over ten years pursuing justice, and a major setback for BHP. The High Court’s liability judgment remains in force, and BHP has exhausted the ordinary routes by which it could seek to overturn it.

In today’s ruling, the court concluded that BHP’s proposed grounds of appeal have no real prospect of success and there is no other compelling reason for the appeal to be heard.  The decision means that the parties will proceed to the trial of Stage 2 of the proceedings, which will determine issues of causation, loss and damages. The trial evidence is to be heard from April 2027 to December 2027, with closing submissions listed for March 2028.

Lord Justice Fraser wrote in the decision: “I do not accept that any of the grounds relating to BHP’s liability for the dam collapse are reasonably arguable. I do not consider that there is any foundation for the different complaints that the trial judge failed to engage with BHP’s case."

Jonathan Wheeler, lead partner for the Mariana litigation at Pogust Goodhead, said: “The Court of Appeal has now joined the High Court in finding that BHP’s grounds of appeal have no real prospect of success - an emphatic and unambiguous outcome. BHP remains liable for the worst environmental disaster in Brazil’s history, and it will not be given another bite at the cherry.”

“Our clients have waited more than a decade for justice while BHP pursued every procedural avenue to avoid accountability; those avenues are now closed. We are focused on securing the compensation that hundreds of thousands of Brazilians have been owed for far too long.”

Announcements Commercial

Loopa Finance Wins at the Lexology European Awards 2026 in the Litigation / General Counsel Category

By John Freund |

Loopa Finance has been recognized as the winner in the Litigation – General Counsel Team category at the Lexology European Awards 2026, one of the leading recognitions in the international legal sector.

The award was received in London by Ignacio Delgado, General Counsel Europe at the firm, on behalf of Loopa Finance’s European team, composed of Ignacio Delgado (General Counsel Europe), Marina Gouveia (Investment Manager), Fernando Pérez Lozada (Senior Investment Manager), and Fernando Folgueiro (Managing Partner).

The Lexology European Awards recognize outstanding legal teams across the region through a methodology that combines independent research, quantitative and qualitative analysis, and thousands of nominations supported by clients and industry peers, as well as the annual research conducted by the Lexology Index (formerly Who’s Who Legal) and Client Choice.

The selection process is based on performance evaluations related to effective communication, commercial understanding, technical expertise, strategic management, and team strength, and is supported by a global community of more than 940,000 subscribers.

This recognition positions Loopa Finance’s European team among the leading practitioners in complex litigation and strategic legal management in Europe.

“This award reflects the strength of a team operating across two continents that understands litigation not only from a legal perspective, but also through financial analysis and risk management. It is the result of collective work and a rigorous, strategic approach to structuring complex disputes,” said Delgado during the ceremony.

More Than an Award: Validation of a Model

The award comes at a time of consolidation for the firm. Loopa Finance recently completed its rebranding process, evolving from Qanlex to Loopa Finance and reinforcing an identity aligned with its growth in continental Europe and its broader international positioning.

It also coincides with the closing of Fund III, raising €65 million to finance complex litigation and arbitration across Europe and Latin America, significantly expanding the firm’s investment capacity and supporting the continued growth of its platform in the region.

This milestone adds to the firm’s recent rankings, including its Band 1 classification by Chambers & Partners in Latin America and Europe, its recognition as “Highly Recommended” by Leaders League across multiple jurisdictions, and the inclusion of members of its team among the Thought Leaders in Third-Party Funding by the Lexology Index. Together, these results confirm the strength of Loopa Finance’s model and the consolidation of its team as a reference in the strategic financing of disputes at an international level.

About Loopa Finance

Loopa Finance is an investment fund specializing in the financing and monetization of litigation and arbitration across continental Europe and Latin America, supported by a technology-driven model and rigorous risk analysis. The firm provides capital to cover legal costs or monetize ongoing claims through non-recourse structures, where the recovery of the investment depends exclusively on the successful outcome of the case, assuming the financial risk of the dispute while fully aligning its interests with those of clients and law firms.

Announcements Commercial

Pravati Capital Partners with SEI to Bring Litigation Finance to Registered Investment Advisors

By John Freund |

One of the oldest litigation finance firms in the United States has announced a strategic partnership aimed at expanding mainstream investor access to the asset class.

As reported by Business Wire via Yahoo Finance, Scottsdale-based Pravati Capital has partnered with financial services firm SEI to provide registered investment advisors with structured access to litigation finance as an alternative investment option. The collaboration will leverage SEI's distribution platform to make litigation funding opportunities available within advisor portfolios.

The partnership reflects growing institutional interest in litigation finance as an alternative asset class. Historically, litigation funding has been difficult for mainstream financial advisors to access on behalf of their clients, with the market largely dominated by specialized funds and institutional investors. The Pravati-SEI arrangement seeks to bridge that gap by creating a more accessible pathway for advisors seeking diversification through non-correlated investments.

The announcement underscores a broader industry shift as litigation finance continues to move from a niche strategy toward greater acceptance within traditional wealth management channels. As the global litigation funding market grows — projected to reach over $25 billion in 2026 — partnerships like this one may signal a new phase of institutional adoption.