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Validity Finance Strengthens Investment Team and Corporate Governance

NEW YORK (January 29, 2019) – Litigation funder Validity Finance has made a notable addition to its growing investment team with the arrival of portfolio counsel William C. Marra in New York. The firm also announced a prominent addition to its governance structure, with Allen Fagin, formerly chair of Proskauer Rose LLP, joining Validity’s board of directors.  Finally, Validity has retained former New York federal Judge John Gleeson, a partner at Debevoise & Plimpton LLP in New York, as outside counsel to advise on investment opportunities.


Launched last June with an initial $250 million in committed capital, Validity has built a substantial portfolio of investments in commercial disputes, partnering with business claimants as well as major law firms in helping finance and monetize their litigation matters.

“As we continue to ramp up our business and scale our portfolio, we’re pleased to announce an outstanding new member of our professional team and welcome a distinguished name to our board and a distinguished adviser to our investment committee,” said Validity CEORalph Sutton.

William Marra joins Validity from noted Washington, D.C. litigation boutique Cooper & Kirk, following judicial clerkships for Justice Samuel Alito of theU.S. Supreme Courtand Judge William Pryor of the U.S. Court of Appeals for the Eleventh Circuit. With a background litigating complex commercial, regulatory, and constitutional cases, Mr. Marra will help Validity review potential portfolio investments and advise clients and law firms on cases where funding may help ensure fair resolution. He received his J.D., magna cum laude, from Harvard Law School, where he was Articles Editor of the Harvard Journal of Law & Public Policy.

“Will’s combination of high-stakes trial practice and experience advising on judicial opinions at the highest levels of the law is a decided advantage in helping our clients crack their toughest legal challenges with funding and strategic advice,” saidJulia Gewolb, Validity’s Director of Underwriting. Marra is the fourth Validity staffer to have served as a federal clerk and adds to the firm’s roster of former practicing trial lawyers which include former litigators from Kirkland & Ellis, Boies Schiller Flexner and Gibson Dunn, among other firms.

Judge John Gleeson will advise Validity in its consideration of investment opportunities. A partner at Debevoise and a former litigator with Cravath, Swaine & Moore, Mr. Gleeson served as an Assistant U.S. Attorney for the Eastern District of New York, before being appointed a judge on the Eastern District by President Clinton in 1994. Stepping down from the bench in 2016, Mr. Gleeson continues to work on major trial and appellate matters, both civil and criminal, as a litigation partner at Debevoise.

“With over 22 years’ experience on the federal bench, Judge Gleeson’s perspective on trial strategy and mechanics is unparalleled. In advising Validity, he will bring this wealth of experience to enhance our investment decisions,” Mr. Sutton commented.

Allen Fagin joins Validity’s eight-member Board of Directors. One of the country’s leading labor and employment litigators, Allen represented a broad range of companies and organizations in workplace related matters. In 2005, Allen was elected Chair of Proskauer Rose, a position that he held for six years. Following his retirement from Proskauer, Mr. Fagin has served as Executive Vice President of the Union of Orthodox Jewish Congregations of America.

“It’s an honor to have Allen Fagin take a seat on our board – his insights as a lawyer and his experience overseeing one of the country’s preeminent law firms, would be welcome enough,” Mr. Sutton said “but Allen also has a strong social conscience and ethical fabric, and we welcome his contributions advancing best practices in dispute funding.”

Mr. Sutton said he expects Validity to introduce some new funding models in the coming year, including novel financing arrangements for law firms to undertake high-risk cases as well as initiatives for greater funding of defense-related matters.

About Validity: Validity provides businesses, law firms and individuals with non-recourse funding for a wide variety of commercial litigation. Founded by litigation finance pioneer Ralph Sutton, Validity believes that capital and legal expertise combine to help solve legal problems on behalf of clients. With a mission to make a meaningful difference in the legal system by focusing on client needs, Validity stands out with a relentless focus on fairness, innovation and clarity.  For more, visitwww.validity-finance.com.

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New Burford Capital Research Reveals Significant Opportunities for Businesses Through Patent Monetization

By Harry Moran |

Burford Capital, the leading global finance and asset management firm focused on law, today releases new research on patent monetization, a means for businesses with significant intellectual property to generate revenue from patent assets through licensing, direct enforcement and corporate divestitures. With high research and development costs, long development timelines and intense IP competition, CFOs and GCs are faced with the challenge of seeking greater value from their companies' patent portfolios without diverting capital from core business operations. Moreover, converting underutilized intellectual property into liquid assets enables companies to fuel ongoing innovation and drive future growth.

Despite substantial investments in securing and maintaining patents, many companies fall short in leveraging their intellectual property—resulting in missed financial opportunities and ongoing costs that could otherwise be offset through monetization. This research shows companies shifting to a more proactive stance toward patent monetization as they face mounting economic pressures, rising costs of maintaining large patent portfolios and headline-generating enforcements and divestitures by major brands that increase acceptance. Nearly 70% of in-house lawyers say their organizations are more likely to monetize patents today than a decade ago, and 73% report that patent monetization revenue has grown over the last 10 years.

"Patent monetization remains a significantly underutilized asset for many businesses," said Christopher Bogart, CEO of Burford Capital. "Companies frequently hold valuable patents that require substantial investment to enforce, incurring significant expense—risk we routinely finance for clients. In today's climate of intensifying global competition and rapidly evolving IP enforcement landscapes, legal finance empowers companies to strengthen their patent monetization strategies and take a more proactive, value-driven approach to IP management."

"Companies have a significant opportunity to unlock value from their intellectual property," said Katharine Wolanyk, Managing Director at Burford Capital and head of its intellectual property and patent litigation finance division. "In conversations with CFOs and general counsel across industries, we frequently hear that patent portfolios are viewed as cost centers rather than assets, and this research substantiates that assertion. Legal finance offers a powerful solution by transforming underutilized IP assets into a source of liquidity that can fuel business priorities and allow companies to continue the essential cycle of innovation."

Key findings from the study include:

  • Companies are missing revenue opportunities: Even as patent monetization is increasing, 79% of in-house lawyers say that more than a quarter of their patent portfolio is underutilized. The costs of maintaining patents without monetization include lost revenue, delayed market entry and reduced market share.
  • Revenue generated by patent monetization is growing: 73% of in-house lawyers report that revenue from patent monetization has increased over the last 10 years and 69% of in-house lawyers say their organizations have become more likely to monetize patents in the past decade.
  • Divestiture is a fast-growing monetization strategy: 71% of in-house lawyers have already divested patents or are actively exploring divestiture options.
  • Clients can de-risk direct enforcement with finance: 72% of law firm lawyers cite the high cost of litigation as a deterrent to clients pursuing meritorious patent claims.
  • Legal finance plays a growing role in patent monetization: 59% of law firm lawyers say clients use legal finance for patent monetization; 51% of in-house lawyers say they are actively planning or exploring the use of legal finance to support patent enforcement and monetization going forward.
  • Global patent monetization is active: The US remains the top market for patent monetization due to strong enforcement mechanisms. The Unified Patent Court (UPC) is driving change in Europe, with 74% of in-house lawyers expecting increased enforcement in the region.

This research, commissioned by Burford and conducted by GLG, captures insights from 300 in-house IP counsel and law firm partners involved in patent litigation in North America, Europe and Asia.

The research report can be downloaded on Burford's website.

About Burford Capital

Burford Capital is the leading global finance and asset management firm focused on law. Its businesses include litigation finance and risk management, asset recovery, and a wide range of legal finance and advisory activities. Burford is publicly traded on the New York Stock Exchange (NYSE: BUR) and the London Stock Exchange (LSE: BUR), and works with companies and law firms around the world from its global network of offices.

For more information, please visit www.burfordcapital.com.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy any ordinary shares or other securities of Burford.

Announcements Commercial People Moves

Court House Capital Appoints New CEO as Michelle Silvers Moves into Chairman Role

By Harry Moran |

Court House Capital is pleased to announce the appointment of Matt Hourn as its new Chief Executive Officer, effective 14 April 2025. This strategic leadership transition marks an exciting new chapter for the company as Michelle Silvers, who has served as CEO since 2020, steps into the role of Chairman of the Board. 

Michelle Silvers has been instrumental in Court House Capital’s growth, innovation, and performance since its inception. Her move into the Chairman position reflects the company's ongoing commitment to visionary leadership and long-term success. 

"Leading Court House Capital has been an incredible journey, and I am proud of what we've built. I look forward to continuing to support the company's future in a strategic capacity as Chairman." Michelle Silvers, Chairman, Court House Capital 

Incoming CEO Matt Hourn brings over 25 years of experience in commercial litigation and is cofounder of Court House Capital. His strong commercial insight and legal expertise, leadership capabilities, and innovative vision make him well-suited to drive the next phase of growth. 

"I am honoured to step into the role of CEO and build on the strong foundation Michelle has established," Matt Hourn, Chief Executive Officer, Court House Capital. 

This transition underscores the firm’s commitment to continuity and strategic evolution, positioning Court House Capital for sustained success. 

ABOUT COURT HOUSE CAPITAL 

Court House Capital is a leading litigation funder focused on cases in Australia and New Zealand. Led by industry founders, with Australian based capital, the team is renowned for expertise, agility and collaboration. courthousecapital.com.au 

Announcements People Moves

IQuote Limited Strengthens Senior Leadership Team with New Director Appointment

By Harry Moran |

Manchester-based litigation finance firm IQuote Limited has bolstered its senior leadership team with the appointment of a new Director of Campaigns, reinforcing its commitment to expansion and innovation in the sector.

Stepping into the role is Katie Doherty, an experienced litigation finance specialist with a track record of driving growth and operational success. 

She has held senior positions at various law firms prior and has worked alongside IQuote CEO Craig Cornick for over 15 years across multiple roles.

Katie said she was both delighted and grateful for the opportunity and expressed a keen desire to get started as soon as possible. 

“It’s an incredibly exciting time for IQuote as we continue expanding our legal tech partnerships and investing in new opportunities,” Katie said.  “This is a fast-moving industry, and I’m looking forward to leading campaigns that will drive the firm’s next stage of growth.

“I can’t wait to get stuck in. IQuote has evolved massively in respect of its business offerings, the firms we are investing in, and the different campaigns we are now exploring. You have to be constantly thinking on your feet; there’s never a dull moment.”

Originally aspiring to become a solicitor, Doherty began her career in legal administration before transitioning into finance and business strategy.  She first collaborated with Craig in 2010, playing a key role in business operations, asset management, and claims handling. 

Katie thanked her team at IQuote for all their help and support.

“They have all been fantastic, and I have so much admiration for Craig,” she said.

“For him nothing is impossible; if you say, ‘it can’t be done,’ he will immediately tell you that it can and how you can make it happen.”

Craig Cornick, CEO of IQuote Limited, said: “Katie has been instrumental in the success of multiple businesses I’ve led, and her ability to think strategically while keeping operations running smoothly is unmatched.

“She knows how to build and execute campaigns that deliver real results, and that’s exactly what we need as we continue to scale. Her expertise in litigation finance, combined with her hands-on leadership style, makes her a perfect fit for this role.

“She’s got an incredible work ethic also. From the very start, Katie has always been willing to roll up her sleeves and do whatever it takes to get the job done. 

“Whether it was managing complex operations or jumping in to solve unexpected challenges, she’s always been a problem-solver. That kind of determination is what sets her apart and why I’m confident she’ll drive real impact in this position.”