It’s been asserted that lawyer and reality-show-husband Tom Girardi is currently incapable of active participation in his current legal situation. Documents recently filed assert that the firm Girardi Keese owes Virage SPV more than $10 million. Yet Girardi’s brother maintains that the founder of the firm is suffering from memory loss and requires a guardian ad litem for himself and his firm.
Easy Legal Finance Inc. a Canadian litigation financing firm, announced today the acquisition of Settlement Lenders Inc. Based in Edmonton, Settlement Lenders Inc. started serving clients in the early 1990s as one of the first firms in the country to offer pre-settlement lending to personal injury plaintiffs.
Golden Pear Funding OpCo, LLC announced Kroll Bond Rating Agency (KBRA) assigns a rating to one class of notes from PEAR 2020-1, LLC – an $80 million litigation finance asset backed security (ABS) transaction. The PEAR 2020-1, LLC transaction represents Golden Pear’s first rated security collateralized by litigation finance receivables.
The following article was contributed by Eric Schuller, President of the Alliance for Responsible Consumer Legal Funding (ARC).
The husband of reality TV star Erika Jayne is being held in civil contempt along with his law firm. A federal judge in a Chicago court made the decision after Thomas Girardi and the Girardi Keese law firm failed to identify the whereabouts of more than $2 million in payments for survivors and family of the Lion Air Flight 610 plane crash.
Tom Girardi, the real-life Erin Brockovich lawyer, and his “Real Housewives of Beverly Hills” wife are being sued for embezzlement. They’re accused of misappropriating funds from the Lion Air crash settlement. Rather than giving the money to the victims, the couple is accused of using the funds in service of an “outrageous lifestyle.”
On November 20, 2020, Oasis Financial became a proud supporter of the Truth Hope & Justice Initiative, a social justice movement designed to mobilize and support mothers from across the country who have lost loved ones to police violence. Oasis Financial is one of the nation’s largest providers of pre-settlement and medical funding, which helps plaintiffs in a lawsuit recover physical and financially from an injury that wasn’t their fault.
State courts face an array of challenges, only some of which are related to COVID. Budget cuts, ever-growing backlogs, logistical concerns, even constitutional challenges are impacting the legal world in myriad ways. Meanwhile, lawyers, judges, defendants—everyone is looking for ways to get back to some semblance of normalcy.
Tribeca Capital Group, LLC, a leading pre-settlement litigation funding company, announced today that it is accepting applications for litigation advances from patients who have filed claims or lawsuits against any of the manufacturers of the heartburn medication ranitidine (eg. Zantac, a brand name of the pharmaceutical company Sanofi).
No one plans for a car accident. By definition, they come as a surprise. When they happen, the result can range from mild inconvenience to life-changing physical, emotional, and financial consequences. If you’re not already well-monied, a car accident loan might be a viable option.
On November 16, 2020 at 1 PM Eastern, the American Bar Association’s Center for Professional Responsibility will present a 60-minute CLE webinar on consumer litigation funding.
Woodstock, NY—October 6, 2020 —Multi Funding, a leading provider of pre-settlement funding serving law firms and attorneys, has been selected as the preferred litigation funding partner for Total Trial Solutions. A provider of comprehensive litigation support services, Total Trial Solutions will offer Multi Funding’s cloud-based litigation finance services to its extensive client base of law firms and attorneys across the United States.
This article was contributed by Eric Schuller, President of the Alliance for Responsible Consumer Legal Funding (ARC).
On October 1, 2020 the California Bar Association published Formal Opinion NO. 2020-204 on Third-Party Litigation Funding.
Forbes Ventures is pleased to announce that, further to the announcement of 2 March 2020, it has established a wholly owned UK subsidiary, Forbes Ventures Cell 1 Limited (the ‘UK Cell’).
Segue Cloud Services, a division of Woodstock Capital Holdings, has released its Segue 3.0 platform, a cloud-based platform which combines all pre-settlement funding workflows and processes, data recovery, and digitized document management features. Segue is a leading provider of cloud-based management tools for the legal and specialty finance community. It has served litigation finance companies and law offices around the country since 2010.
Much has been made about the interest charged by consumer legal funders in mass tort cases. One study suggests that interest rates are as high as 60%. Some are using such figures as the basis for clamping down on the practice of Litigation Finance, even if that comes to the detriment of those who rely on such funding in the pursuit of justice.
Since the impact of COVID, clinics and hospitals are besieged by new patients they can scarcely accommodate. Beds are full, basic supplies like PPE have run short, and even the best minds in medicine cannot agree on how to stop the spread of the virus. The only thing worse than being sick or injured may be to have that illness or injury exacerbated by an error by a medical professional.
August 27, 2020—It’s a question many are now confronting, and it has nothing to do with the law: “When will we get paid?”
WEST CALDWELL, N.J., Aug. 24, 2020 /PRNewswire/ — Legal-Bay, the premier Pre Settlement Funding Company, announced today that they have expanded their car accident and personal injury departments due to the influx of new filings during the first half of 2020. Legal-Bay is one of the leading lawsuit loan companies in the industry, and offers a very fast approval process.
Fintech credit professional Rob Cottingham has been appointed to Chief Credit Officer at ME Group, a Cheadle-based firm. Cottingham takes on this new role that will report to executive chairman Bruce Walker—who is also new to the business. These appointments herald a new phase in a long-term growth strategy for the company, as it moves toward becoming a leader in consumer litigation funding.
NEW YORK, Aug. 12, 2020 /PRNewswire/ — Tribeca Capital Group, LLC, a pioneer in pre-settlement litigation funding, announces that it is now advancing funds to claimants who have lost their livelihoods through wrongful termination, the employer’s mishandling of wage and benefit claims, and other employment issues arising from the pandemic crisis.
SACRAMENTO, Calif., Aug. 13, 2020 /PRNewswire/ — Legal Bay Lawsuit Funding reports that California utility company PG&E recently admitted negligence in the 2018 Camp Fire that killed 84 people and destroyed the entire town of Paradise. The fire devastated hundreds of lives and wreaked billions of dollars in property damage, and was the single most destructive wildfire in California’s history.
Non-recourse funding is the backbone of the Litigation Finance model. It’s what exempts the practice from usury laws and allows funders to charge higher interest rates than other lenders. An as-yet-unpublished article suggests that funders actually made higher profits from individual car accident claims than from mass tort cases. That is to say, cases where a small number of people are injured or killed made more money for funders than large cases with multiple impacted parties.
Sean Callagy’s law firm, Callagy Law, has been involved in several contentious lawsuits in recent months, in part due to defaulting on loans from Legal Capital Group. The LCG agreement was made with George Prussin, an old friend of Callagy. Their friendship fell apart after several professional differences that became litigious.
NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) assigns a preliminary rating to one class of notes from TVEST 2020A, LLC, a $123 million securitization collateralized by litigation finance and medical receivables serviced by Experity Ventures LLC (“Experity”).
