Mastercard CAT Update; Burford CEO Blasts UK Gov't; Omni Bridgeway Funds Class Action Against J&J; People Moves, and more
Legal Funding Journal
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Competition Appeal Tribunal Approves ￡200m Settlement in Mastercard Case
As Legal Funding Journal reported?last week, the Competition Appeal Tribunal (CAT) was the venue for one of the most interesting settlement approval hearings in recent memory, as the class representative and litigation funder found themselves at odds over a proposed settlement.
An article in?The The Law Society Gazette?covers the news that the CAT has approved the ￡200 million settlement in the collective action brought by Walter Merricks CBE against Mastercard. The approval came following the end of a three-day hearing where the Tribunal heard arguments from counsel for Merricks, Mastercard, and for the litigation funder who had backed the legal action, Innsworth Advisors Ltd. Hodge Malek KC, Chairman of the CAT, praised Merricks dedication to the case and noted that “the fact the outcome has been disappointing in the light of how the evidence and rulings have developed does not detract from that.”
Omni Bridgeway Funding New Zealand Class Action Against Johnson & Johnson
Reporting by?The Post?covers a new class action filed in the High Court of New Zealand, which is being brought against Johnson & Johnson over the alleged sale of ineffective cold and flu medications. The lawsuit alleges that Johnson & Johnson manufactured cold and flu products containing Penylephrine, which some medical studies have found is not an effective oral treatment for nasal congestion. Eligibility for the class action includes consumers in New Zealand who purchased one of the 17 identified Codral, Sudafed or Benadryl branded products between 2005 and 2025.
The class action has been brought by Australian law firm JGA Saddler, with litigation funding provided by Omni Bridgeway. This is the second such lawsuit brought against Johnson & Johnson by this team, with JGA and Omni Bridgeway having worked together to bring a similar class action against the pharmaceutical giant in 2024.
Burford CEO Condemns UK Government’s ‘Failure to Act’ on PACCARAs
Legal Funding Journal recently reported that the Court of Appeal has decided to hear arguments over the validity of litigation funding agreements that use a multiple of the sum invested. As we suggested, this decision has emboldened funders who are dismayed at the government’s delays in enacting a legislative fix for PACCAR.
In a piece for the Financial Times, Christopher Bogart, co-founder and chief executive of Burford Capital, takes aim at the UK government’s “failure to act” in providing a solution for the litigation funding industry following the Supreme Court’s PACCAR ruling. Bogart argues that whilst the Prime Minister has repeatedly spoken about the need for the country to attract investment, the delay in acting on this issue “threatens to create an environment in which businesses and their money leave the UK to the detriment of the economy and workforce.”
In what is perhaps the most startling admission, and a thinly veiled challenge to the government, Bogart states that Burford “is reconsidering whether London is a preferred dispute resolution centre.” Whilst this appears to be a warning of what could occur, Bogart reports that “the lingering uncertainty and the government’s silence has caused the company to begin migrating some dispute resolution activity away from London.”
Community Spotlight: Dane Lund from Juris Capital, LLC
Dane Lund, Managing Director, Juris Capital, LLC has built a career at the intersection of law and finance, bringing a distinctive blend of legal acumen and financial expertise to the evolving world of litigation funding. He began his professional journey after graduating from Harvard Law School as a litigation associate at?Willkie Farr & Gallagher?in 2012, where he gained firsthand experience navigating complex commercial disputes and understanding the strategic nuances that drive legal outcomes.
Eager to broaden his perspective, Dane transitioned into investment banking, joining the?Financial Sponsors Group at Barclays. There, he developed a rigorous foundation in evaluating risk, structuring deals, and analyzing the dynamics of capital markets—skills that would later prove invaluable in the realm of legal finance.Following his time at Barclays, Dane pursued investment roles focused on?equities, private debt, and legal finance, deepening his expertise across both traditional and alternative asset classes. This diverse background positioned him perfectly for the litigation finance space, where legal strategy and capital management intersect. In 2024, he joined Juris Capital, LLC as Managing Director, where he helps shape the firm’s approach to funding commercial litigation.“
We’re experiencing a sea change in how law is practiced,”?says Dane.?“Legal finance isn’t just a funding mechanism—it’s a catalyst for innovation within the legal sector.”
?? Upcoming Livestream this Thursday: LFJ Virtual Town Hall - Spotlight on AI & Technology | Thurs, Feb 27 @ 12pm EST
From origination and underwriting to risk mitigation and case management, innovative technologies are streamlining processes for law firms and litigation funders alike.Join us for a panel discussion with key stakeholders across the legal technology and litigation funding industries, as they assess the current state of AI and legal technology, and the sector’s impact on the future of litigation funding.
Topics include:
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Join us for this complimentary panel discussion, which includes a Q&A with attendees.
International Legal Finance Association (ILFA) Statement in Opposition to Forced Disclosure Legislation
The International Legal Finance Association is announcing its opposition to the Litigation Transparency Act of 2025, which would force public disclosure of all financing in civil cases in federal courts.
The sweeping nature of the bill would harm small-scale inventors, startups, small and family-owned businesses, and individual Americans who partner with legal funders because they otherwise would not have the resources to assert their rights, protect their property, and defend their livelihoods.?This bill would force disclosure of the sensitive details of their legal strategies and is a blatant attempt to further tilt the legal system in favor of the biggest corporate players resulting in a dramatic reduction in civil litigation against them.?This bill would also partially nullify liability for America’s largest tech and insurance companies.
People Moves
Bertrand Beauchesne Appointed Group Finance Director at Deminor
Deminor announced that Bertrand Beauchesne has been appointed as Group Finance Director, bringing over 20 years of experience in financial management and strategic planning across Europe, Asia, Africa, and the Middle East.
Litigation Lending Appoints Leo Argy and Maximilian Heffernan as Investment Managers
In a series of posts, Litigation Lending Services Limited announced the new appointments of Leo Argy and Maximilian H., who are both joining the funder as Investment Managers. Argy will bring over 25 years’ experience in the legal sector to his new role at Litigation Lending, having begun his career as a solicitor in 1997, going on to become the Managing Solicitor-Director at Argy & Associates Lawyers between 2001 and 2021. Argy joins Litigation Lending having most recently served as Manager of Litigation and Recoveries at Hollard Insurance Australia for the past three years.
Heirloom Fair Legal Appoints Georgios Tzoumakas as Director for Family Office Division
In a post on?LinkedIn, Heirloom Fair Legal announced the appointment of Georgios Tzoumakas MSc as Director of Capital & Investor Relations in the company’s Family Office division. The company explained that Tzoumakas will have oversight of all the division’s operations and be responsible for “developing tailored strategies to support the capital raising process, while fostering long-term relationships built on trust and excellence.”
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