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Legal-Bay Lawsuit Funding Enters Attorney Funding Market with Law Firm Loans Up to $25MM

By John Freund |

Legal-Bay, The Pre Settlement Lawsuit Funding Company, announced today that they are now assisting a large number of attorneys with their funding needs. The premier lawsuit funding company is currently working with lawyers and law firms, generating a renewed focus on cash flow needs that may have arisen due to Covid-19 shutdowns and a severely slowed court system.

Chris Janish, CEO of Legal-Bay, commented, “We have secured ample capital in our quest to assist our many law firm clients. We’re able to get them the money they require to help them carry on with their professional needs, as case settlements have slowed down due to Covid-19. Legal-Bay is now positioned to be a full-service funding firm–and invaluable resource–for law firms and their clients alike by helping with cash-flow needs and building case value through our multitude of funding products.”

If you are a lawyer or law firm who needs an immediate cash advance and are interested in discussing how law firm loans can help you, please visit Legal-Bay HERE or call toll-free at 877.571.0405.

When it comes to case cost funding, funding for experts, trial cost, or medical procedure / surgical funding for a client, attorney loans are invaluable to lawyers and medical providers. Many law firms have walked away from great cases because they couldn’t pull the funding together for personal injury clients that don’t have insurance. Also, smaller firms sometimes need to bring in additional counsel for bigger cases because they cannot self-fund things like expert costs, excessive trial costs, or general case costs needed to properly prosecute a valid claim.

Plus, now that surgery centers are strapped for cash as well due to Covid they are more hesitant to undertake personal injury surgery on lien or Letter of Protection (LOP). Now, law firms can go to Legal-Bay to help finance the surgery by paying the medical provider upfront. This greatly improves the case value for the client, and the medical provider is more than willing to work with the law firm. Legal-Bay can structure large and small transactions mostly on a non-recourse basis depending on the nature of each transaction.

Legal-Bay has helped lawyers in New York, New Jersey, Florida, Pennsylvania, California, Texas, and Ohio, but they work with attorneys from all states, even outside of NY, NJ, FL, PA, CA, TX, and OH. Let them provide immediate capital to scale your operation with credit lines up to $25MM. They are a leader in the industry with access to large capital portfolio companies. They offer the fastest approvals with less underwriting than traditional banks, and interest rates/usage fees have simple terms ranging from 12% to 40% per annum with no upfront fees or hidden costs built into the contracts. They can tailor transactions and paybacks, so your cash-flow remains strong. Legal-Bay’s goal is to work tirelessly to help get your firm the capital it requires.

If you are a lawyer or law firm who needs an immediate attorney loan or law firm loan, please visit Legal-Bay HERE or call toll-free at 877.571.0405.

Keep in mind, there are some key requirements to be eligible for funding:

1. Diversified portfolio of personal injury cases and/or other contingency fee type cases

2. Track record of success in settling and/or trial wins

3. Steady cash-flow and profits each year

4. Reputable principals within the firm with a history of integrity

Legal-Bay provides fast attorney loans for your law firm and your clients in need. Their staff is trained to make things as efficient for your team as possible. They want to be a resource to help your clients hold out for a fair settlement while also not inundating your firm with unnecessary document requests. Legal-Bay’s loans for lawyers provide the lowest industry rates so that any funding liens do not get in the way of settling your client’s case… and most importantly, put more money back into their pocket!

If you are a lawyer or law firm who needs an immediate cash advance for trial cost funding, funding for experts, or surgical funding, please visit Legal-Bay HERE or call toll-free at 877.571.0405.

Legal-Bay remains vigilant in helping clients with their professional and personal needs. Any clients who need cash now can apply for funding to help them get through their financial crises. Legal-Bay funds all types of law firm loans including funding off personal injury cases, attorney lines of credit, attorney fee acceleration, advancement of attorney fees, case cost lines of credit, case cost funding, case cost disbursement funding, and many more.

Legal-Bay works directly with many top law firms to provide the best cash advance rates in the industry in as little as 24 – 48 hours. They can assist with acquiring needed loans for law firms in circumstances such as:

  • Portfolio loans
  • Funding for trial costs, trial cost loans, case cost funding, or lines of credit
  • Law firm loans, law firm portfolio loans, law firm portfolio financing
  • Attorney funding, Lawyer funding, law firm funding, law firm advance
  • Non-recourse law firm advance, law firm financing
  • Attorney pre-settlement funding or attorney post-settlement funding
  • Legal Receivable Factoring
  • Appellate funding, appellate financing
  • Judgement on appeal loans, judgement on appeal funding
  • Verdict loans, verdict financing
  • Commercial litigation loans, commercial case funding, commercial case advance, commercial case loans, commercial lawsuit advance, commercial lawsuit loans, commercial lawsuit funding, commercial loans, commercial advance, commercial funding
  • Whistleblower loans, whistleblower advance, whistleblower funding
  • Qui-tam loans, Qui-tam funding, Qui-tam advance
  • Patent infringement funding, copyright infringement loans

Legal-Bay’s law firm funding programs are designed to provide immediate cash for attorneys who need advance capital to meet their firm’s financial demands. To apply right now, please visit the company’s website HERE or call toll-free at: 877.571.0405 where agents are standing by to answer any questions.

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Announcements Commercial People Moves

Darrow Names Mathew Keshav Lewis As Chief Revenue Officer & US General Manager

By John Freund |

Darrow, the leading AI-powered justice intelligence platform, today announced the appointment of Mathew Keshav Lewis as its first Chief Revenue Officer and US General Manager. Lewis brings over 20 years of experience driving revenue and growth for high-profile legal and technology companies – including SaaS platform Dealpath, alternative investment platform Yieldstreet, and legal services pioneer Axiom Law – and will be responsible for helping Darrow scale as it continues an accelerated growth trajectory. 

"Mathew's arrival at Darrow opens enterprise-level deals to all plaintiff law firms, previously accessible only to a select few,” said Evyatar Ben Artzi, CEO and Co-Founder of Darrow. “His expertise from YieldStreet and Axiom empowers our partners to leverage AI, driving unprecedented growth and innovation.” 

Lewis, who will be based in Darrow’s New York headquarters, joins Darrow after serving as the first Chief Revenue Officer of Dealpath, a real estate deal management platform. He also previously held the role of Chief Revenue Officer and GM, Investments at Yieldstreet, where he drove record revenue and growth for the investment platform. 

“I’m delighted to join a team of tremendously talented individuals at Darrow, who have already disrupted the legal technology space and forged the path ahead,” said Mathew Keshav Lewis, Chief Revenue Officer & US General Manager of Darrow. “I am inspired by Darrow’s progress to date, and I look forward to working alongside Darrow’s growing team to expand the company’s footprint.”

This announcement comes at a period of rapid growth for the company, which completed its $35 million Series B funding round last year. Darrow currently works on active litigation valued over $10 billion across legal domains such as privacy, consumer protection, and antitrust. 

About Darrow: Founded in 2020, Darrow is a LegalTech company on a mission to fuel law firm growth and deliver justice for victims of class and mass action lawsuits. Darrow's AI-powered justice intelligence platform leverages generative AI and world-class legal experts and technologists to uncover egregious violations across legal domains spanning privacy and data breach, consumer protection, securities and financial fraud, environment, and employment. Darrow is based out of New York City and Tel Aviv. For more information, visit: darrow.ai. 

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Announcements Commercial

Omni Bridgeway Releases Investment Portfolio Report for 3Q24

By John Freund |

Omni Bridgeway Limited (ASX: OBL) (Omni Bridgeway, OBL, Group) announces the key investment performance metrics for the three months ended 31 March 2024 (3Q24, Quarter) and for the financial year to date (FYTD).

Summary

  • Investment income of A$296 million FYTD; A$56 million provisionally attributable to OBL.
  • 23 full completions, 17 partial completions FYTD, with an overall multiple on invested capital (MOIC) of2.0x.
  • A$333 million of new commitments FYTD with a corresponding A$447 million in new fair value, on track to achieve our A$625 million target.
  • Pricing remains at improved levels, up 32% for the FYTD compared to FY23.
  • Strong pipeline, with agreed term sheets outstanding for an estimated A$212 million in new commitments.
  • OBL cash and receivables of A$101 million plus A$60 million in undrawn debt at 31 March 2024.
  • A$4.4 billion of possible estimated portfolio value (EPV) in completions over the next 12 months. 
  • Further simplification and enhancement of our disclosures as announced at the Annual General Meeting, comprising non-IFRS OBL-only financials and non-IFRS fair value on a portfolio basis and OBL-only basis.
  • These new disclosures and metrics, as well as a valuation framework for our existing book and platform, were presented at our investor day on 27 March 2024.

Refer to https://omnibridgeway.com/investors/investor-day.

Key metrics and developments for the Quarter

Income and completions

  • Investment income of A$296 million generated from A$193 million income recognised and A$103 million income yet to be recognised (IYTBR), with A$56 million provisionally attributable to OBL FYTD (excluding management and performance fees). 
  • During the Quarter, 11 full completions and 11 partial completions (excluding IYTBR), resulting in 23 full completions and 17 partial completions (excluding IYTBR) FYTD, and one secondary market transaction, with a FYTD overall MOIC of 2.0x.

New commitments

  • Our stated targets for FY24 include A$625 million in new commitments or equivalent value, prioritising value over volume to reflect potential for improved pricing of new commitments.
  • FYTD new commitments of A$333 million at 31 March 2024 (from matters that were newly funded, conditionally approved or had increased investment opportunities). 
  • The fair value associated with these commitments is $447million, 72% of the full year value generation target.
  • Pipeline of 37 agreed exclusive term sheets, representing approximately A$212 million in investment opportunities, which if converted into funded investments is a further 34% of our FY24 commitments target.  
  • In addition to the regular new commitments to investments in the existing funds FYTD, an additional A$11.5 million of external co-fundings were secured for these investments to manage fund concentration limits. OBL will be entitled to management fees as well as performance fees on such external co-funding.

Portfolio review

  • A$4.4 billion of EPV is assessed to possibly complete in the 12 months following the end of the quarter. This 12 month rolling EPV is based on investments which are subject to various stages of (anticipated) settlement discussions or for which an award or a judgment is expected. All or only part of these may actually complete during the 12 month period.
  • We anticipate replacing these final EPV metrics with fair value metrics by the end of this financial year.

Cash reporting and financial position

  • At 31 March 2024, the Group held A$100.7 million in cash and receivables (A$62.8 million in OBL balance sheet cash, A$2.0 million in OBL balance sheet receivables and A$35.9 million of OBL share of cash and receivables within Funds) plus access to a further A$60 million in debt.
  • In aggregate, we have approximately A$161 million to meet operational needs, interest payments, and fund investments before recognising any investment completions, secondary market sales, management and transaction fees, and associated fund performance fees.
  • Post Quarter-end and as per the date of this report, in anticipation of the expiry of the availability period of the debt facility, OBL has drawn down the A$60 million in undrawn debt and received the funds.

Investor day

The investor day presentation and Q&A which took place on 27 March 2024 can be viewed at https://omnibridgeway.com/investors/investor-day.

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Announcements Commercial People Moves

Carpentum Capital Launches Aurigon Litigation Risk Consulting (LRC)

By John Freund |

The team around former Carpentum Capital has launched AURIGON LITIGATION RISK CONSULTING (LRC), a litigation funding intermediary based in Switzerland with a special focus on Latin America. 

Founder and Managing Director Dr. Detlef A. Huber comments: ”AURIGON LRC is combining two worlds, litigation finance and insurance. Both areas are increasingly overlapping. Insurers offer ever more litigation risk transfer products and funders recur to insurance to hedge their risks. Hence complexity and advisory requirements are increasing, especially in still developing markets like Latin America. With our team of lawyers and former re/insurance executives trained in Latin America, the US, UK and Europe we are perfectly suited to advice our clients in any stage of the funding process or in related insurance matters. Our goal is to become the preferred partner for litigation and arbitration funding projects out of Latin American jurisdictions and I am looking forward to this new adventure.”

ABOUT AURIGON

AURIGON Advisors Ltd. is operating as re/insurance consultancy since 2011 with a special focus on dispute resolution and auditing. With AURIGON LRC an intermediary for litigation funding has been launched servicing our clients out of Argentina, Chile, Brazil and Switzerland in Spanish, English, Portuguese and German. With our experience setting up the first Swiss litigation fund dedicated to Latin America (founded 2018), and in the insurance advisory area (since 2011), we are bringing together knowledge of processes and mindsets of the funding and the insurance world. 

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