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Announcements Commercial

Cadence Launches The First-Of-Its-Kind Tokenized Debt Security

NEW YORK, Jan. 2, 2019 /PRNewswire/ — Cadence, the leading investment platform for digital debt securities, has successfully funded and issued the first-ever tokenized fixed income product. This inaugural issuance is in partnership with a marketplace lender extending working capital to e-commerce merchants.

“We are structuring private, bespoke debt opportunities supported by diverse cash flows from alternative assets,” says Nelson Chu, CEO of Cadence. “Digitization of debt is optimal because we can easily standardize and reuse the smart contract templates for each structured debt offering we tokenize. This cuts down on back office costs and lets us pass on these savings in the form of higher yields for our investors.”

This marks a first for digital assets. Security tokens have been created for equity ownership in real estate and small businesses, but never for conventional debt instruments. The ability to use distributed ledger technology to unlock assets that were once exclusively reserved for institutions is a major step forward for the industry. Cadence facilitates competitive debt financing options for originators by providing them access to a wider array of investors seeking attractive fixed-income returns.

Cadence plans to expand its offerings to include a variety of other private debt opportunities in the coming months. The company will be sourcing deals from originators that specialize in invoice factoring, term loans, litigation financing, and many more.

“The originators we partner with are interested in Cadence because we provide them attractive capital at lower fees on a deal-by-deal basis,” says Jane Yang, Director of Strategy at Cadence. “Originators use Cadence to digitize and securitize their assets, syndicating the investments to our network of investors and securing the capital they need to grow.”

The company will be releasing additional offerings onto the platform as part of its private beta. Investors can sign up today to join the private beta on their website by visiting http://withcadence.io/sign-up/.

About Cadence
Cadence digitizes private debt securities to offer attractive returns for investors at any size. Cadence is using distributed ledger technology to bring transparency, efficiency, and liquidity to private capital markets. The company was founded by Nelson Chu and Jane Yang in 2018.

Contact
Lucia Liu
Cadence Group, Inc.
646.876.5141
lucia@withcadence.io

SOURCE Cadence

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http://withcadence.io/

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Announcements Consumer

Legal-Bay Pre-Settlement Funding Company Renews Focus on FELA and Railroad Cases in Light of Newly-filed Wrongful Death Lawsuits Against Norfolk Southern Railroad

By Harry Moran and 4 others |

Legal-Bay, the premier Pre Settlement Funding Company, announces today that they are expanding their FELA and railroad injury claims department due to an increase in railway worker personal injury claims and the recent wrongful death lawsuit filed against Norfolk Southern Railroad.

The Norfolk case was filed earlier this month on the second anniversary of the tragic East Palestine, Ohio train derailment and subsequent toxic spill where plaintiffs claim multiple lingering health issues, including seven deaths. The lawsuit also levels accusations against the EPA and CDC, alleging that neither organization carried out a proper cleanup, nor warned residents about the potential health risks, elevating fears that their sudden mysterious illnesses could progress into something more serious.

Train derailments are only one of many reasons railroad lawsuits are filed. Everyday commuters can be victims of criminal violence on subways, or be injured due to improperly maintained train cars or railway stations. Plaintiffs will normally file negligence suits against the rail line and even the city itself for failing to keep their passengers safe.

If you are a plaintiff in any type of active railroad injury litigation and need an immediate cash advance lawsuit loan against an impending lawsuit settlement, please visit Legal-Bay HERE or call toll-free at 877.571.0405.

Chris Janish, CEO, commented, "Our funding on FELA cases this year is up over 100%. Legal-Bay is putting a large focus on train accidents in light of recent national headlines. We have always been a leader in FELA cases because of our expertise and our ability to provide ample capital for the long haul on these cases."

In addition to passenger lawsuits, there has also been an increase in FELA funding requests from railway employees within recent months. Legal Bay has even launched a new website specifically built for railroad FELA claims and railroad workers. The lawsuit funding company also secured more capital for railroad workers and employees covered under the FELA Act of 1908, which provides financial relief for railroad employees seeking workers compensation for an injury sustained on the job or in the yard.

If you are (or were) a railroad worker who has filed a lawsuit because of injuries you've suffered due to no fault of your own, or if you were injured due to negligence of your rail company or supervisor, or if you were hurt on the job because of faulty equipment or unsafe working conditions, then you may qualify for legal funding.

If you are a plaintiff or attorney involved in an active FELA railroad injury lawsuit and need an immediate cash advance lawsuit loan against an impending settlement, please visit our specialized FELA website HERE or call toll-free at 877.571.0405.

While railway workers need to take a few extra steps, most everyday victims of railroad injuries can file personal injury lawsuits. Damages in railroad injury cases are in line with other personal injury settlement awards such as reimbursement for lost earnings, medical expenses, and physical as well as mental pain and suffering.

Legal-Bay has been funding train accidents for the last 15 years and focuses much of their attention to certain cities and states: New York, NY; Newark, New Jersey; Boston, Massachusetts; Philadelphia, PA; Washington, D.C.; Atlanta, GA; Nashville, TN; Chicago, IL; and Los Angeles, CA to name a few. 

They are often referred to as one of the best lawsuit loan companies out there and the best lawsuit funding provider for railroad workers, in part because the lawsuit settlement loan company offers the quickest approvals and lowest rates industry wide. Contact Legal-Bay today or visit our specialized FELA website HERE to find out why we are considered the top lawsuit money lender around.

Legal-Bay advocates for victims of railroad injuries, but they provide settlement loan funding for all types of cases including personal injury, dog bites, slip and falls, car accidents, boat accidents, motorcycle accidents, bike accidents, truck accidents, and more.

Legal-Bay provides some of the best rates and fastest approvals in the industry, less than 24-48 hours in some cases. They offer free lawsuit evaluation on your settlement amount or case value, along with no out-of-pocket expenses or upfront costs. Their settlement funding loans have helped numerous plaintiffs by providing immediate cash in advance of a lawsuit'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 a loan, but rather a cash advance.

To learn more about Legal-Bay's funding for FELA claims, railroad worker, railway passenger personal injury lawsuits, railroad lawsuit loans, rail worker personal injury pre settlement funding, railroad employees personal injury settlement loans, or railroad worker personal injury lawsuit loan funds, please visit the company's website HERE to apply right now or call toll-free at: 877.571.0405 where friendly and helpful agents are standing by to answer your questions.

Announcements Commercial

BNP Paribas’ Securities Services Business Adopts Broadridge’s Global Class Action Solution to Maximize its Clients’ Global Asset Recovery Opportunities

By Harry Moran and 4 others |

BNP Paribas’ Securities Services business, a leading global custodian with USD 13.7 trillion under custody, has partnered with global Fintech leader, Broadridge Financial Solutions, Inc. (NYSE:BR) to expand its global custody services, appointing Broadridge as service provider for its global securities class action services.

“As the Securities Services business of BNP Paribas, we are committed to delivering innovative and differentiating products and services to our clients. Broadridge brings advanced technology, market-leading information security and deep industry expertise that align with our goals, enhancing our clients’ experience and supporting their business,” said Christian Houillon, Head of Custody Product for Securities Services at BNP Paribas. “We will be able to harness Broadridge’s proprietary technology to identify, file and recover investment losses, alongside their extensive industry expertise.”

Broadridge provides a comprehensive, proprietary technology solution for global class action services that will help clients identify and act on asset recovery opportunities. This includes a seamless process for identifying, filing, and recovering investment losses, backed by Broadridge's industry expertise.

“As the volume of securities class actions continues to rise, it’s crucial for the clients of BNP Paribas’ Securities Services business and other global financial institutions to leverage all available asset recovery opportunities,” said Steve Cirami, Vice President, Head of Corporate Actions & Class Actions at Broadridge. “Broadridge’s solutions will enable the clients of BNP Paribas’ Securities Services business to obtain all required information to support their decisions on claim recoveries, facilitate investor participation in settlements and support key business functions, delivering a seamless and impactful client experience.”

Investors have more recovery opportunities than ever before as the class action landscape continues to expand globally with more than 35 jurisdictions around the world adopting collective redress mechanisms for shareholders. In 2024 alone, there were more than 125 recovery opportunities and $5.2 billion in settlements. The ability to monitor all opportunities globally requires leading edge technology and expertise, particularly in jurisdictions where considerations of litigation can be complex to navigate.

Broadridge’s dedicated global class action services team comprises deeply knowledgeable and experienced securities litigators, claims administrators, claims auditors and data specialists, equipped to provide clients with unmatched end-to-end services, portfolio monitoring and claims filing and registering processes in global jurisdictions. Learn more about the team here.

About Securities Services at BNP Paribas (securities.cib.bnpparibas)

BNP Paribas’ Securities Services business is a leading global custodian providing multi-asset post-trade and asset servicing solutions to buy-side and sell-side market participants, corporates and issuers. With a global reach covering 90+ markets, its custody network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide. As a pillar of BNP Paribas’ diversified banking model, Securities Services provides asset servicing solutions that are closely integrated with the first-class services of the Group’s other business lines, in particular those of Global Banking and Global Markets.

As of 31 December 2024, Securities Services had USD 13.7 trillion in assets under custody and USD 2.8 trillion in assets under administration.

About Broadridge

Broadridge Financial Solutions (NYSE: BR) is a global technology leader with the trusted expertise and transformative technology to help clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences. 

Our technology and operations platforms process and generate over 7 billion communications per year and underpin the daily trading of more than $10 trillion of securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries.

For more information about us, please visit www.broadridge.com.

Announcements Commercial People Moves

Victory Park Capital Expands Legal Credit Team, Welcomes Hugo Lestiboudois as Principal

By Harry Moran and 4 others |

Victory Park Capital (“VPC”), a global alternative investment firm specializing in private credit, today announced that Hugo Lestiboudois has joined the firm as Principal. Mr. Lestiboudois, who brings over 10 years of experience in developing and operating legal finance strategies, will work alongside Richard Levy, VPC CEO, CIO & Founder, and Chad Clamage, Managing Director, to advance the firm’s legal credit strategy.

“We welcome Hugo to the firm with great excitement,” said Levy. “I am confident that his experience will help us unlock further momentum in the rapidly expanding market for legal investing and address the growing demand for innovative funding solutions.”

VPC’s legal credit team, comprised of veteran litigators, legal finance investors, and seasoned private credit professionals, takes an asset-backed lending approach to the legal asset class, emphasizing downside protection and current income streams. With its deep expertise and extensive industry relationships, VPC is well-positioned to capitalize on market inefficiencies and pursue opportunities across the full spectrum of legal asset types and structures.

“I am thrilled to join the VPC team and help further scale the legal credit strategy,” Lestiboudois said. “With a highly diversified portfolio of asset-backed legal assets and robust risk management controls, VPC’s disciplined and innovative approach creates resilience against market volatility and enables us to excel in the legal credit market.”

Previously, Mr. Lestiboudois was a principal at Syz Capital where he oversaw the firm’s legal finance strategies. Prior to that, Mr. Lestiboudois led the Illiquid Investments Desk at IVO Capital Partners where he focused on European distressed and structured credit transactions. Earlier in his career, Mr. Lestiboudois focused on asset-backed financing in his role at AgFe and held analyst positions at Capital Management and BlackRock.

About Victory Park Capital

Victory Park Capital Advisors, LLC (“VPC” or the “Firm”) is a global alternative asset manager that specializes in private asset-backed credit. In addition, the Firm offers comprehensive structured financing and capital markets solutions through its affiliate platform, Triumph Capital Markets. The Firm was founded in 2007 and is headquartered in Chicago. In 2024, VPC became a majority-owned affiliate of Janus Henderson Group. The Firm leverages the broader resources of Janus Henderson’s 2,000+ employees across offices in 24 cities worldwide. VPC is a Registered Investment Advisor with the SEC. For more information, please visit www.victoryparkcapital.com.