Bench Walk adds VP in New York

Nick Sage has joined Bench Walk Advisors as Vice President in the funder’s New York office.

Nick previously served as a senior litigation associate with Davis Polk & Wardwell LLP, where he gained significant experience across a wide range of litigations and arbitrations and represented a variety of financial institutions, media companies, technology companies, utility companies, and law firms in high-stakes disputes.

Nick graduated cum laude from Tufts University in 2005 with a B.A. in international relations and political science and graduated cum laude from New York University School of Law in 2013. Prior to law school, Nick worked at Global Kids, Inc., a non-profit organization that works with youth in underserved communities.

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Insights

Interview with Ayse Yazir- Global Head of Origination, Bench Walk Advisors LLC

Ayse Yazir of Bench Walk Advisors shares her journey from working as a paralegal at a law firm to her current role as Global Head of Origination at Bench Walk Advisors, which has quickly become a global player in the market, having earned a no.1 ranking in Chambers & Partners and funded 155 cases in just four years. Ayse also reveals how her Turkish roots and inspiring family story have contributed to her success.

New Fundings

Deminor backs new Italian group action

Deminor is backing a new group action claim in Italy filed against the “Corrugated Cardboard Cartel.” The civil action follows the Italian Competition Authority’s decision – also confirmed by the Lazio Regional Administrative Court – which ascertained the existence of two collusive agreements between the main operators in the sector aimed at inflating sales prices for corrugated cardboard sheets and packaging for a period of more than 10 years. Italian law firm BonelliErede will be leading the multidisciplinary legal team, which will include professionals from the firm’s Competition Litigation Task Force with extensive experience in antitrust damages actions. This is the second Italian collective claim launched against the Corrugated Cardboard Cartel — Bench Walk Advisors is also backing a claim initiated in late 2021, with bookbuilding and damage assessments for that case being delivered by Libra and legal and litigation services being delivered by Delex.

New Fundings

Bench Walk to back Sears insolvency litigation

Counsel for the official committee of unsecured creditors of Sears Holdings is seeking court approval of a US $35 litigation funding facility with Bench Walk Advisors. Sears Holdings, the parent company of the iconic Sears retail brand, filed for Chapter 11 bankruptcy protection in October 2018. While under creditor protection, litigation was commenced by a restructuring subcommittee seeking over $2 billion in damages arising from certain pre-filing related party transactions. $25 million was set aside to cover the initial costs of the litigation, but these funds are now near exhaustion. In order to continue in the pursuit of the claims, a competitive process was initiated to secure additional funding. After several rounds of hard-fought and arm’s-length negotiations with Bench Walk and another funder, Bench Walk emerged as the winner.

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