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Announcements Consumer

U.S. Claims Closes $50 Million Deal

DELRAY BEACH, Fla., Nov. 12, 2019 /PRNewswire/ -- DRB Financial Solutions, LLC (DRBfinancial.com), and its wholly-owned subsidiary U.S. Claims (USClaims.com), America's premier pre-settlement funding company, today announced the two-year renewal of a $50M pre-settlement revolving credit facility.  The renewal comes amidst a string of financial transactions that have helped the company improve its offerings and foster further growth.

Steve Bashmakov, the company's Chief Financial Officer, commented, "This facility is being provided by one of our institutional partners that understands the fundamental credit quality of these assets and the strength of U.S. Claims' underwriting, origination, and servicing capabilities."

He continued, "It is a continuation of a long-term commitment with a tremendous partner.  We have chosen to renew it because it offers fantastic flexibility as well as attractive pricing and advance rates for our litigation funding business."

The $50M financing facility is yet another in a series of recent votes of confidence from the capital markets that will help fuel the company's continued growth.

About U.S. Claims: U.S. Claims (www.USClaims.com) provides litigation funding for plaintiffs, attorneys, and surgeries.  Its flagship offering is providing non-recourse financial support to personal injury victims, some of whom may have suffered catastrophic injuries from defective products, unsafe premises, motor vehicle accidents, and other types of accidents; this financial support provides the injured plaintiff the means to pay bills and endure the often long and arduous litigation process.

About DRB Financial Solutions, LLC, (DRB) provides liquidity solutions to individuals and small/medium-sized businesses holding high quality but illiquid assets. Having raised over $1 billion in capital and developed a robust origination platform, DRB is a market leader in four major lines of business:  U.S. Claims, CRG Financial, (CRGFinancial.com), DRB Capital (DRBCapital.com) and Producer Advance (ProducerAdvance.com).

Commercial

63% of In-House Counsel Report Increased Pressure to Reduce Costs Amidst a Lack of Resources

A new survey by Konexo, the alternative legal services department of global law firm Eversheds Sutherland, has found that nearly 2/3 of in-house counsel surveyed report increased pressure to reduce costs, while resources continue to dwindle. Yet despite this, GCs are loathe to outsource work to external counsel, instead looking for alternatives to the traditional law firm model. As reported by Australasian Lawyer, in-house counsel are increasingly handling larger and more complex claims, and are doing so with fewer resources at their disposal. And to top it all off, they are being asked to cut costs. Yet only 19% of respondents said that they plan to leverage external counsel for help. Instead, GCs are opting for creative workarounds, such as Legal Tech instruments which can help with data analytics and document automation. While the focus of the survey was on advancements made in the Legal Tech space, and how those services can help streamline operations and in turn ease the costs burden, there is a clear parallel here with litigation finance. The #1 selling point for funders is a reduction of both costs and risk for legal departments, and with in-house opening the welcome mat for Legal Tech, clearly the focus is on alternative strategies to achieve those aims.
Announcements Consumer

Momentum Funding Welcomes New Regional Account Executive, with a Focus on Central Florida

ORLANDO, Fla., Nov. 12, 2019 /PRNewswire/ -- Momentum Funding, a premier legal, medical, and transportation finance company, is excited to announce and welcome Kaitlynn Diaz as a new Regional Account Executive. She will oversee business in Central Florida. She comes to Momentum with a Juris Doctorate from Ave Maria School of Law and has worked in the legal industry for the past six years.
"We are very excited to have Kaitlynn join the team. She brings experience, a lot of energy, and wants to help attorneys add value to their cases. We look forward to growing our business in the Orlando market with her." said Mike Willyoung, Chief Marketing Officer at Momentum.
Ms. Diaz will directly consult and assist attorneys through the litigation finance process to offer a streamlined experience that is unmatched in the industry. Momentum Funding's core business is pre & post-settlement funding, focusing on assisting plaintiffs with their financial needs. They also provide medical funding, directly paying for medical procedures, surgeries, deductibles, and health insurance policies. For clients with transportation needs, they have launched a revolutionary ride service, 855-You-Ride, which offers a trusted and commercially insured concierge service to help transport plaintiffs to legal and medical appointments. The company has a growing national presence and provides resources and education for attorneys. They are licensed by the Florida Bar to offer continuing legal education (CLE) credits on the ethics of legal funding. The Momentum team consults with firms to add value to their clients' cases. For more information about plaintiff funding, medical funding, or their transportation service, please reach out to Elizabeth Pekin, Esq., at 855-855-FUND(3863) or visit www.momentumfunding.com.
Announcements Consumer

Legal-Bay Announces $105MM Fund to Pay for Negligence Claims in California Wildfires

PARADISE, Calif., Nov. 12, 2019 /PRNewswire/ -- Legal Bay Lawsuit Funding reports that residents of northern Californiawho have been affected by the slew of recent wildfires can apply for aid through the Wildfire Assistance Program. The $105 million fund was approved by the judge during PG&E's Chapter 11 case, and will be made available via the company's cash reserves. While the funding has been approved for victims of the 2017 wildfires and 2018's Camp Fire, payouts may be delayed due to even more disasters that have plagued the area. Numerous new wildfire claims have been filed, and the number of people affected ranks in the thousands. Even though settlements may be drastically delayed, Legal-Bay is still offering pre-settlement funding for families in need of an immediate cash advance. If you need an immediate cash advance against your pending wildfire lawsuit, you can apply at:  http://lawsuitssettlementfunding.com or call: 877.571.0405 It is difficult to prove negligence on the part of the utility companies. There must be strong evidence showing blatant irresponsibility and lack of reason when it comes to wildfire prevention. But Legal-Bay believes that with the recent court verdicts, wildfire legislation, and PG&E's outright admission of guilt, plaintiffs stand a great chance of coming out ahead. Chris Janish, CEO of Legal-Bay, commented on the recent uptick in wildfire lawsuits, "The victims of these horrific tragedies have already suffered enough, but now they are forced to wait it out as their lawsuits lag in the court system. In the meantime, pre settlement funding is available to plaintiffs who need money now to survive until their wildfire lawsuit makes it to trial. People need to rebuild their homes and their lives, and Legal-Bay is happy to help in any small way we can." If you have filed a wildfire lawsuit and need an immediate cash advance against your pending settlement, you can apply for presettlement funding at:  http://lawsuitssettlementfunding.com or call: 877.571.0405 Legal-Bay's funding programs are non-recourse, which means you only repay the settlement advance if you win your case. None of the programs should be considered to be a lawsuit loan, lawsuit loans, settlement loans, settlement loan, pre-settlement loans, or a pre-settlement loan.
Commercial

Why the Construction Industry is Ripe for Litigation Finance

The global construction industry is one that is utilizing litigation finance to greater and greater degrees. With heavy CapEx, a high rate of legal disputes and low margins, construction firms and contractors are finding solace in third party litigation finance. As reported in Construction News, last year's bankruptcy of UK contractor Carillion sent shockwaves through that nation's construction industry. Indeed, this is an industry that is teetering-- a recent CN100 poll found that the 10 largest UK construction firms reported an average pre-tax loss of -.5% last year. And total profits for the 100 largest construction and contracting companies - at just over £1B - equates to a mere 1.5% of turnover. What's more, construction is a risky business; things go wrong all the time, which naturally leads to a bevy of lawsuits. So construction and contracting companies are increasingly turning to litigation finance to achieve certainty in regard to their legal spend, and simultaneously reduce risk. And this trend isn't localized to the UK. We've reported on the rise of litigation finance in India, thanks to several construction companies there who have begun to utilize outside funding. And with China's colossal One Belt One Road initiative well-underway, everyone is expecting a rise in construction-related disputes from the 60 countries involved. Many third party funding experts have been eyeing the industry's potential expansion into Southeast Asia. It may very well end up being the construction industry which beckons global funders to that corner of the world.
Announcements Commercial

Woodsford Litigation Funding enters the Canadian market with three key hires

LONDON 11 November 2019, Woodsford Litigation Funding, the global provider of litigation financing solutions for businesses, individuals and law firms, has announced further expansion of its international executive team and entry into the Canadian market with the appointment John G. Booth, Ekin Cinar and Richard Asselin as Consultants. Ekin, with extensive experience in complex, high-value disputes involving commercial arbitration and litigation, is based in Toronto. Richard, a senior business professional with significant experience in Canada’s oil & gas service industry, is based in Calgary and will service the BC and Alberta markets for Woodsford. John, an experienced commercial litigator, investment banker, IP strategist and fund manager will split his time between the UK and Canada, with a focus on the entire country. These appointments are a graphic illustration of both the size of the opportunity Woodsford has  identified in Canada and the continued rapid global growth of the business as a whole, following last month’s announcement of three appointments to the UK executive team. “Following significant diligence, we firmly believe in the potential of the Canadian market. With these three appointments we have the key markets on both sides of the country covered. The expertise in our new Canadian team will allow us to fund all types of disputes including class actions, energy disputes, IP claims and general commercial litigation” commented Mark Spiteri, Woodford’s Finance & Commercial Director. John Booth commented, “It’s tremendously exciting to be joining one of the world’s leading litigation funders as we enter the Canadian market that I know so well. I am really looking forward to playing my part in making Woodsford Canada a success.” About Woodsford Litigation Funding Founded in 2010 and with a presence in London, Philadelphia, San Francisco, New York, Toronto, Calgary, Singapore, Brisbane and Tel Aviv, Woodsford Litigation Funding provides tailored litigation financing solutions for businesses, individuals, and law firms. This includes both single case and portfolio funding. Woodsford’s Executive team blends extensive business experience with world- class legal expertise. Woodsford is a founder member of the Association of Litigation Funders of England and Wales (ALF). Woodsford’s Chief Operating Officer, Jonathan Barnes, was recently re-elected to the board of ALF for a further three years.
Announcements Consumer

Legal-Bay Pre Settlement Funding Preparing For Numerous Bayer Lawsuit

JERSEY CITY, N.J., Nov. 9, 2019 /PRNewswire/ -- Legal-Bay LLC, The Pre Settlement Funding Company, announced today that they have recently seen an increase in Essure birth control lawsuits, and are preparing for numerous presettlement payouts in the coming months. The Essure brand birth control device is put out by Bayer, who is accused of knowingly distributing a faulty product. More than 17,000 plaintiffs have claimed serious pain and suffering from broken devices including device migration and perforated organs. Bayer continues to deny any wrongdoing and stands by the safety of its product, with all intentions of defending itself against the many lawsuits already filed, and the many more sure to come. In spite of past dismissals, California, Illinois, and Pennsylvania courts are currently selecting bellwether trial cases and setting court dates. The largest number of pending cases is in California, and their courts have compiled the largest collection of documents and information regarding the Essure devices. California and Pennsylvania are looking to try their cases sometime in 2019, while Illinois courts have already set a trial date, albeit not until 2020. Chris Janish, CEO of Legal-Bay commented, "Legal-Bay has seen an increase in the filings for Bayer's Essure device. While there are no settlements or jury verdicts in these lawsuits, we nevertheless remain committed to assisting plaintiffs with their presettlement cash advance needs." If you are involved in an Essure birth control lawsuit and are looking for presettlement cash now, you can fill out an application at: http://lawsuitssettlementfunding.com Legal-Bay is a leading personal injury pre-settlement advocate, and works directly with many of the top mass tort law firms to provide the best pre-settlement cash advance rates in the industry in as little as 24 – 48 hours. If you do not have an attorney, Legal-Bay can assist you with retaining a top lawyer or law firm that specializes in Essure cases. All of Legal-Bay funding programs are risk-free as you only repay the advance if your case is successful. The non-recourse advance is not a lawsuit loan, lawsuit loans, pre settlement loan, or pre-settlement loans. Please apply online at:  http://lawsuitssettlementfunding.com or call the company's toll free hotline at: 877.571.0405 where agents are standing by.
Announcements Commercial

Leading dispute financiers IMF Bentham and Omni Bridgeway complete merger transaction

SYDNEY (November 11, 2019) Leading dispute resolution financier IMF Bentham Limited (IMF Bentham) (ASX:IMF) announces that it has completed the merger with Omni Bridgeway Holdings BV (Omni Bridgeway) previously announced on October 15, 2019.
The combined IMF Bentham and Omni Bridgeway business accelerates IMF’s growth and creates a major diversified global litigation funding platform across common law and civil law jurisdictions in developed and emerging markets. The largest funding team in the world now offers end-to-end solutions for clients from pre-judgment merits funding to post-judgment enforcement and recovery. Having previously described the acquisition as a “merger of equals,” Andrew Saker, Managing Director and Chief Executive Officer of IMF Bentham, describes the combined resources as considerable. “We have over A$2.2 billion in capital to finance disputes and enforcement proceedings of significant size and complexity throughout the world. Our combined company has 18 offices in 10 countries across Asia, Australia, Canada, Europe, Middle East, UK, and the US and 145 professionals experienced in legal and recovery systems worldwide, fluent in more than 20 languages.” IMF Bentham will continue to be listed on the Australian Securities Exchange and the combined group will use the first-class business operations, reporting and accounting practices that have shaped IMF Bentham’s reputation as a trustworthy and reliable disputes financier. The combined group will assume one global name pending a rebrand projected for completion by 30 June 2020. About IMF Bentham IMF Bentham is a leading global litigation and dispute financier, headquartered in Australia and with offices in the US, Canada, Singapore, Hong Kong, and London. The company began funding disputes in Australia in the 1990s and has built its reputation as a trusted provider of innovative litigation financing solutions. It has established an increasingly diverse portfolio of litigation and dispute financing assets. IMF Bentham has a highly experienced litigation financing team overseeing its investments, delivering, as at 30 June 2019, an 89% success rate across 192 completed cases (excluding withdrawals). Visit imf.com.au to learn more. About Omni Bridgeway Omni Bridgeway was founded in the Netherlands in 1986 and is known as a leading financier of high-value claims and a global specialist in cross-border (sovereign) enforcement disputes. The Omni Bridgeway group includes ROLAND ProzessFinanz, a leading German litigation funder which became part of Omni Bridgeway in 2017, and a joint venture with IFC (part of the World Bank Group). The joint venture is aimed at assisting banks with the funding and managing the enforcement of non-performing loans and related disputes in the Middle East and Africa. Visit omnibridgeway.com to learn more. About ROLAND ProzessFinanz ROLAND ProzessFinanz AG has been providing commercial litigation funding solutions since 2001. The company became part of Omni Bridgeway in mid-2017, creating one of Continental Europe’s leading litigation funders. ROLAND funds medium-sized merits and group claims in the German-speaking jurisdictions of Europe.  Visit roland-prozessfinanz.de/en/ to learn more.
Announcements Consumer

Legal-Bay Lawsuit Funding Focusing On Wrongful Termination Cases

NEW YORK, Nov. 7, 2019 /PRNewswire/ -- Legal-Bay LLC, The Lawsuit Settlement Funding Company, reports today that they are focusing a large portion of their pre-settlement cash advance funding capital toward victims of wrongful termination due to racial, gender, or age-related discrimination. With the many payouts plaintiffs have received from the most recent court cases, Legal-Bay anticipates even more wrongful termination lawsuit filings to come.

Legal-Bay provides financial assistance to people who have recently found themselves unemployed, and can provide cash advances to plaintiffs while their cases are tied up in litigation. These pre settlement funds can assist people dealing with lost pay, lost benefits, emotional stress, punitive damages, and legal fees.

Chris Janish, CEO, commented on the company's focus of assisting plaintiffs in similar situations, "If the recent increase in applications is to be used as an indication, we can safely surmise that the number of wrongful termination lawsuits is on the rise. While the situation is frustrating and stressful for those who may have found themselves unjustly dismissed from their jobs, Legal-Bay is committed to helping these out-of-work individuals as they fight their cases."

If you are actively engaged in a lawsuit as a result of wrongful termination, please visit the company's website at http://lawsuitssettlementfunding.com for more information on how Legal-Bay can help you during this difficult time. Legal-Bay also helps victims involved in commercial litigation and verdict or judgment on appeal cases, as well as cases that result in personal injury.

Legal-Bay's programs are non-recourse lawsuit cash advances, also known as case funding, which means you only repay the settlement advance if you win your case. None of the programs should be considered to be a lawsuit loan, lawsuit loans, settlement loans, settlement loan, pre settlement loans, pre-settlement loans, pre settlement loan or a pre-settlement loan.

If you require an immediate cash advance or need help with finding a lawyer or law firm that specializes in wrongful termination cases, please go to the company's website: http://lawsuitssettlementfunding.com to fill out a preliminary application, or feel free to call Legal-Bay on its toll-free hotline at: 877.571.0405, where live agents are available to answer your questions.