Guido Demarco joins Stonward

Guido Demarco has joined Stonward as a director and Head of Legal Assets, based in Argentina. Before joining Stonward, Guido worked for the European Bank for Reconstruction and Development as a legal advisor, where he had the opportunity to work closely with different governments and high-level stakeholders.Previously, he was an associate at Baker McKenzie in the firm’s Buenos Aires office, where he worked on major cross-border financing and projects. Read more.

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New Fundings

IVO Capital backs €6 billion claim against TikTok

IVO Capital is backing a €6 billion claim against Chinese social media platform TikTok filed by Stichting Massaschade & Consument, a Dutch non-profit organization that defends the rights of consumers in cases of mass damage. The claim is on behalf of 4.5 million Dutch users whose sensitive data was allegedly illegally harvested and auctioned off. With the lawsuit, the foundation wants to encourage TikTok to respect European privacy laws and provide clarity on the logic behind its algorithm.

New Fundings

Up to £45 million of ‘Follower Notice’ penalties liable to be repaid by HMRC

Fieldfisher, through its FeeSolve litigation funding service, is backing a potential group action against HMRC in relation to up to £45 million of ‘Follower Notice’ penalties that HMRC may be liable to repay. A recent Supreme Court decision has cast doubt on the enforceability of certain penalties issued by HMRC in cases of perceived tax avoidance.

New Fundings

PGMBM and SPS Capital invest additional capital into BHP case

PGMBM and SPS Capital, a prominent Brazilian special situations fund with expertise in DIP financing and litigation funding, concluded a follow-on investment to partially further finance the case Municipality of Mariana & Ors v BHP plc & BHP Ltd. The claim against BHP was filed on behalf of the victims of the Fundão dam collapse that took place in November 2015 in Mariana, Brazil. The dam was owned by BHP’s Samarco joint venture and its collapse affected more than 200,000 people. In a landmark ruling, the English courts revived the claim that had been struck out last year, granting permission to appeal under exceptional appeals legislation.

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