Turnaround consultant Huw Dolphin has taken more than 75% control of Pogust Goodhead, replacing founder Tom Goodhead as the firm’s "person with significant control".
The move comes as Goodhead was replaced as CEO, reportedly over "tension" with financial backer Gramercy.
A turnaround consultant has taken control of Pogust Goodhead, the class action boutique leading the £34 billion Mariana dam collapse claim against BHP.
Companies House filings show Huw Dolphin, a former DLA Piper restructuring partner who, according to his LinkedIn profile, is now a "turnaround consultant" and independent restructuring specialist "helping businesses in the world of corporate financial and commercial distress", was notified as the "person with significant control" at PGMBM Ltd, the parent of Pogust Goodhead, on 4 August.
Dolphin now holds more than 75% control of the company and has the power to appoint and remove directors, replacing founder Tom Goodhead in the role.
The shift, first reported by the Gazette, landed in the same week Goodhead was replaced as CEO by chief operating officer Alicia Alinia, alongside board changes that saw former Dentons global chair Howard Morris appointed. Pogust Goodhead’s primary financial backer is US hedge fund Gramercy, with which it agreed a $552 million investment deal in 2023 - the largest known litigation funding deal ever.
The firm’s 2023 financial accounts are now more than 10 months overdue, adding to concerns over its position as it awaits a High Court liability judgment in the UK’s biggest-ever class action, representing more than 600,000 Brazilian claimants over the 2015 Brazilian dam disaster.
Last week, Pogust Goodhead said: "The firm’s funders continue to believe in the strength of the litigation and will continue to provide funding to support its efforts."
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