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International Legal Finance Association appoints Executive Director and General Counsel

By John Freund |

The International Legal Finance Association (ILFA) has appointed Gary Barnett as Executive Director and General Counsel.  Launched 12 months ago, ILFA (ilfa.com) is the first-ever global association devoted to the growing commercial legal finance industry.

Previously at the U.S. Department of Justice (DOJ), Barnett served in various roles since 2017, most recently as Senior Counselor to the Attorney General in the Office of the Attorney General. Barnett also served as the DOJ’s Acting Director in the Office of Victims of Crime and Acting Chief of Staff to the Attorney General. Prior to joining the DOJ, he was the Staff Director and Chief Counsel to the U.S. Senate Judiciary Committee’s Subcommittee on Privacy, Technology and the Law. Barnett received his J.D. from Georgetown University Law Center and his B.A. in History and Economics from Boston University.

Gary Barnett, Executive Director and General Counsel of ILFA said: “I am honored to have the opportunity to lead ILFA and to help shape the future of this important and exciting global industry that provides untold benefits to businesses, consumers, and societies across the world, by supporting a just legal system and the rule of law.”

Leslie Perrin, Chair of ILFA said: “We are thrilled that Gary is leading the charge on behalf of  ILFA’s members to foster the sustainable development of the legal finance industry.  His vast experience within the US Department of Justice, his global perspective and commitment to the rule of law are a huge asset to the Association and its members, as well as users of legal finance around the world.”

ILFA membership includes the world’s leading commercial legal finance firms, who are founding members—Burford Capital, Harbour Litigation Funding, Longford Capital, Omni Bridgeway, Therium and Woodsford Litigation Funding. ILFA is the global voice of the commercial legal finance industry, representing its interests before governmental bodies, international organizations and professional associations and serving as a clearinghouse of relevant information, research and data about the uses and applications of commercial legal finance. Incorporated in Washington, D.C., ILFA also has a significant presence in London, Brussels and Australia.

Since launching in September 2020, eight additional members have joined: Law Finance Group, Nivalion, Parabellum Capital, Innsworth Advisors, D.E. Shaw & Company, Fortress Investment Group, TRGP Capital and Validity Finance. Membership is open to any professional commercial legal finance firm that satisfies ILFA’s membership criteria.

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Announcements Commercial People Moves

Audley Capital Appoints Rick Gregory to Executive Board

By Harry Moran |

In a post on LinkedIn, Audley Capital announced the appointment of Rick Gregory to its executive board. Gregory serves as a Director for Audley and is a legal funding specialist, “with over 28 years of experience in legal funding, law firms, insurance, and volume litigation.”

The announcement highlighted Gregory’s vast experience across the legal sector, saying that “his profound understanding of the market, regulatory landscape, and commercial requirements for all stakeholders has paved the way for the implementation of litigation funding across some of the largest volume schemes in the UK.”In addition to his work on the executive board Audley, Gregory is also the co-founder of Legal Intelligence, a legal tech company that provides a range of AI solutions to “drive efficiency, innovation, and scalability, empowering professionals to gain a competitive edge and achieve sustainable growth and client delight.”

Announcements Commercial

Burford Capital Reports First Quarter 2024 Results

By Harry Moran |

Burford Capital Limited ("Burford"), the leading global finance and asset management firm focused on law, today announces its first quarter 2024 results.

In addition, Burford has made available an accompanying first quarter 2024 results presentation on its website at http://investors.burfordcapital.com.

Christopher Bogart, Chief Executive Officer of Burford Capital, commented:

"Our first quarter showed our highest ever reported level of first quarter cash receipts, above-average realized gains, continued case conclusions with loss levels below historical experience and moderate new business activity broadly consistent with a typical first quarter. Total revenues reflected the variable timing of recognition we expect in our business; the underlying portfolio continued to show forward momentum with no material negative developments, while lower operating expenses reflected the absence of elevated variable costs."The full summary of the quarterly results can be read here.

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Announcements Commercial People Moves

Lex Ferenda Litigation Funding LLC Announces Promotion; New Appointment

By Harry Moran |

Lex Ferenda Litigation Funding LLC "LF2" is pleased to announce the following promotion and appointment: Andrew Kelley is now LF2's Deputy Chief Investment Officer; Andrew Bourhill joins LF2 as Associate Director, Investments. Kelley previously served as Managing Director, Underwriting and Risk. Bourhill, who was an intern at the company while completing his MBA at Columbia Business School, graduated this month and now joins on a full-time basis.

"LF2 has been working on its first investment fund, committing it to litigation assets around the US. It has always been our plan to increase our commitments to Andrew and Andrew, and we are pleased that the business is in a place that we are able to do that," said Chris Baildon, LF2's Chief Operating Officer.

PROMOTION

Kelley, who now serves as the Company's Deputy Chief Investment Officer, is a key part of the management team and works carefully with the co-founders and advisory board to understand risk and manage investments.

"I am excited to expand my role at LF2 and look forward to continuing to help our clients and their counsel successfully navigate the dispute resolution process without having to worry about how to pay for their representation," said Kelley. "As a former outside counsel and in-house lawyer, I understand the complex business and legal dynamics of successfully funding, prosecuting, and resolving disputes."

Prior to joining LF2 in early 2023, Kelley was Associate General Counsel and head of commercial litigation at Fortune 500 company, DaVita Inc.. He has also served as General Counsel to a private equity firm headquartered in Colorado and as outside counsel at two different international law firms in Colorado. Kelley received his J.D. from Harvard Law School and his B.A. from the University of Colorado, Boulder. He is actively licensed to practice law in Colorado.

APPOINTMENT

Bourhill joins as Associate Director, Investments, and will be primarily responsible for creating, developing, and maintaining business relationships with law firms and litigants to ensure that LF2's commercial activity continues to expand while its clients receive best-in-class service.

"I am looking forward to joining the LF2 team and applying my unique perspective in a dynamic industry with such high growth potential," said Bourhill. "As a former litigator and finance professional, I'm excited to enhance outcomes for both our clients and investors while being able to promote access to high quality legal representation."

Prior to obtaining his MBA, Bourhill was an associate attorney at a premier defense law firm in Manhattan specializing in commercial litigation. Bourhill received his J.D. from the Cardozo School of Law, and his B.A. from Emory University. He is actively licensed to practice law in New York.

"I am humbled to have Kelley and Bourhill take expanded roles at LF2 and believe that their increased fidelity with our clients and investors will make our business stronger," said Michael German, Chief Investment Officer at LF2. "We are continuing to expand in the litigation finance space and are excited about the future, particularly with Andrew and Andrew playing strategic roles within the business," German said.

ABOUT LEX FERENDA LITIGATION FUNDINGLF2 is a commercial litigation finance company anchored by institutional capital. LF2 is structured with the objective of meeting the highest standards in investment process management, quality control, risk management, and compliance. For further information about LF2, please visit: www.lf-2.com.

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