Stonward joins The European Litigation Funding Association (ELFA)
Stonward, a litigation funder focusing on Spain and Latin America, has joined ELFA as a Full Member.
BRUSSELS, 12 June 2023: The European Litigation Funders Association (ELFA) is pleased to announce that Stonward, a litigation funder focusing on Spain and Latin America, has joined the association as it builds towards becoming the collective voice of the European litigation funding industry.
Guido Demarco, Director and Head of Legal Assets at Stonward, said: “We are thrilled to announce our membership of the European Litigation Funders Association, marking a significant milestone in our journey as a litigation funder based in Spain. Joining ELFA aligns perfectly with our commitment to excellence and the pursuit of justice within the legal industry.”
Demarco added, “as a member of ELFA, we are eager to collaborate with like-minded professionals and industry leaders from across Europe. By uniting our strengths and expertise, we aim to drive positive change, foster transparency and promote the highest standards of ethical litigation funding practices. Through our membership, we seek to contribute to the development of the litigation funding ecosystem in Spain and the broader European market, while raising awareness of this legal tool among legal experts and company managers. We believe that by working closely with ELFA, we can actively shape the future of litigation funding, advocate for its recognition as a valuable tool for access to justice and support the growth of fair and effective dispute resolution mechanisms.”
Deminor Chief Investment Officer and ELFA Board Member, Charles Demoulin, highlighted how pleased he and the other founding members of ELFA were, to welcome Stonward to ELFA: “My co-founders and I established ELFA established to serve as the European voice of the commercial litigation funding industry and we are immensely proud to start now welcoming on board funders from around Europe who are also keen to play a part in shaping the direction of the industry. We are extremely pleased to announce that Guido Demarco and Stonward are full members of ELFA and look forward with enthusiasm to their future contributions.”
ELFA was founded by three leading litigation funders with a European footprint including Deminor, Nivalion AG, and Omni Bridgeway Limited. ELFA's current directors are Charles Demoulin (Chief Investment Officer, Deminor); Marcel Wegmüller (Co-Founder and Co-CEO, Nivalion AG); and Wieger Wielinga (Managing Director EMEA Omni Bridgeway), who will serve as ELFA's inaugural Chairman. The intention of the association is to be inclusive for all professional litigation funders of larger or smaller size.
Demarco further explained what he and Stonward are keen to achieve by being members of ELFA: “our core focus remains on the Spanish market; however, we recognise the importance of collaboration and the exchange of knowledge at a European level. By participating in ELFA’s initiatives, events and working groups, we intend to stay at the forefront of industry trends, legislative changes and emerging best practices. This will enable us to better serve our clients, enhance our risk management capabilities and further strengthen our commitment to providing tailored and innovative funding solutions. We are excited about the opportunities that lie ahead and the doors that our membership of ELFA opens for all of us. Together with our fellow members, we are committed to advancing the field of litigation funding, fostering a culture of integrity and ensuring access to justice for all.”
About The European Litigation Funders Association
ELFA was founded by three leading litigation funders with a European footprint and today includes an increasing number of Europe’s most highly respected litigation funders. ELFA was established to serve as the European voice of the commercial litigation funding industry. The association has the objective of representing the industry’s interests before governmental bodies, international organisations, and professional associations. ELFA also aims to act as a clearing house and reference for relevant information, research and data regarding the uses and applications of commercial legal finance within the European continent. ELFA aims to be inclusive for all professional litigation funders of larger or smaller size and to allow specific contributing market participants and academics as associate members.
About Stonward
Stonward began operations in 2020, providing clients with access to capital for commercial litigation and arbitration, with a focus on Spain and Latin America. It helps clients find the right angle on their legal assets so that they can capitalise on their strengths, offering bespoke solutions for accessing legal finance. Stonward manages a portfolio of claims relating to commercial disputes, intellectual property, restructuring and insolvency, and antitrust infringements, including the truck cartel. In addition to Guido Demarco, Director and Head of Legal Assets, Stonward’s key members include Armando Betancor, Blas González and Chris Garvey, members of the Board of Investments, and Rodrigo Olivares-Caminal and Eduardo Frutos, corporate advisers to the company.