Legal-Bay Lawsuit Funding Taking Applications on Astroworld and Other High Profile Personal Injury Claims

By John Freund |

Legal-Bay, the premier Pre Settlement Funding Company, announced today that over 150 lawsuits have been filed in the Astroworld tragedy that took place at Houston’s NRG Stadium last month. The event was sponsored by Live Nation and intended to be a showcase for rapper Travis Scott. Unfortunately, however, the day took a darker turn when attendees rushed the stage causing numerous injuries, and in the case of ten people, death.

Over a dozen law firms representing approximately 600 plaintiffs have filed premise liability and gross negligence suits against Scott, concert promoter Live Nation, and numerous other businesses including venue staff and security of NRG, along with first-aid providers that were hired to attend to injured fans.

Plaintiffs claim that security and medical services were inadequate, leading to a predictable and preventable catastrophe. Safety measures could and should have been put in place in order to avoid the carnage that occurred, but instead, numerous corners were cut at almost every step. Concertgoers soon found themselves in an environment they had no control over, leading to the hundreds of injuries and tragic deaths that took place.

Plaintiffs allege that there was a lack of crowd management even though official plans stated that this was necessary, lending weight to the negligence charges being brought against the defendants. Reportedly, there wasn’t even a strategy for a crowd surge, even though comparable problems had occurred during Astroworld’s preceding event held in 2019.

In Scott’s case, it might be even more difficult for him to claim he had no idea a crowd crush would happen since his own concerts have had other similar incidents, a fact which the venue and event organizers of this year’s Astroworld were most certainly already aware. In 2015, he was arrested and charged with disorderly conduct after he flay-out told a Chicago audience to ignore security and rush the stage.

Chris Janish, CEO, commented on the situation, “We are expecting many more of these unfortunate large scale personal injury events in 2022 now that larger events are being planned following the Covid hiatus. To our knowledge, we are the only company funding Astroworld plaintiffs at this time. Our staff is familiar with cases of this nature and can evaluate quickly for victims who are in need of cash now.”

If you have an existing lawsuit and need a loan on lawsuit against your impending case settlement, Legal-Bay may be able to assist you immediately. To apply online, please visit us HERE or call the company’s toll-free hotline at 877.571.0405.

Even outside the Astroworld tragedy, Legal-Bay has seen a flood of new premise liability filings in 2021, and their team is prepared to keep up with the demand. They’re one of the leading lawsuit loan funding companies in the industry, and offer a lightning-fast approval process. A good thing, considering there’s been a noticeable backlog in the courts due to Covid delays and court closures in response to the pandemic. Rather than wait indefinitely until cases get settled, Legal-Bay believes plaintiffs shouldn’t be left waiting for the money they have coming to them. They have expanded their premise liability and personal injury departments in order to accommodate litigants who would rather opt for presettlement funding. Applications are reviewed on a case-by-case basis, and funding is awarded based on the merits of your particular situation.

The legal concept of premise liability is used in certain personal injury cases if the injury involved was caused by a property owner’s failure to ensure his property is safe. To win a premise liability case, the injured person needs to prove that their injuries were caused by unsafe conditions as a direct result of the property owner’s negligence to suitably maintain the property.

However, just because you were injured on someone’s property doesn’t automatically mean that the property owner is liable. Proof will need to be provided showing the property owner was aware of the unsafe conditions on his premises and failed to take action to rectify an unsafe situation. That being the case, you may be entitled to compensation.

If you are involved in an active personal injury or premise liability lawsuit and need an immediate cash advance against an impending lawsuit settlement, please visit Legal-Bay HERE or call toll-free at 877.571.0405.

Legal-Bay is one of the market’s premier funders. If you’ve previously been denied by other funding companies, you might want to give Legal-Bay a try. More often than not, they’ll be able to refinance your rate at a lower cost than other funders, with an added bonus of getting you more money.

Anyone that has an existing lawsuit and needs cash now can apply for loan settlement funding to help get through their financial crises. Legal-Bay funds all types of premise liability loans for lawsuits including personal injury, slips and falls, car accidents, construction site accidents, work-related injuries, injuries incurred due to negligent business practices or lack of maintenance on private property, and more.

Legal-Bay’s pre settlement funding programs are designed to provide immediate cash in advance of a plaintiff’s anticipated monetary award. The non-recourse law suit loans—sometimes referred to as loans for lawsuit or loans on settlement—are risk-free, as the money doesn’t need to be repaid should the recipient lose their case. Therefore, the lawsuit loans aren’t really loans, but rather cash advances.

To apply for lawsuit funding right now, please visit the company’s website HERE or call toll-free at: 877.571.0405 where agents are standing by.

Contact:Chris Janish, CEO
Email: 
info@Legal-Bay.com
Ph.: 877.571.0405
Website: www.Legal-Bay.com

Announcements

View All

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

Read More

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.

Read More

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. 

Read More