News and analysis dedicated to the consumer legal funding sector including mass torts, regulatory issues, case developments, funding activities, and more.

Mill City Ventures III, Ltd. (“Mill City”) (NASDAQ:MCVT), a specialty short-term finance and non-bank lender, announced today that, in accordance with its previously announced letter of intent regarding a proposed merger transaction with Mustang Funding, LLC dba Mustang Litigation Funding (“Mustang”), it has entered into a $5 million short-term financing arrangement with Mustang in furtherance of the proposed merger. The related short-term note is scheduled to mature on the ninth-month anniversary of the loan.

Mill City Ventures III, Ltd. (“Mill City”) (NASDAQ:MCVT), a specialty short-term finance and non-bank lender, announced today that it has entered into a non-binding letter of intent for a merger transaction with Mustang Funding, LLC dba Mustang Litigation Funding (“Mustang”), a Delaware limited liability company owning and operating a Minneapolis-based litigation finance business focusing on the long-term capital needs of law firms, plaintiffs and vendors.

Leading claims automation solution FinLegal has appointed Connor Goggin, as a Senior Product Specialist, to work closely with US firms and litigation funders to replicate its success in the UK. Connor joins FinLegal with extensive experience in SaaS (Software as a Service) and legaltech sales.

Harrison, New York based Altuitive Partners LLC (Altuitive), an investment management company led by alternative investment veteran, Robert Cannon CFF, MBA, AIFA, announces the launch of MedResolve, a litigation financing company dedicated to providing funding solutions to personal injury plaintiffs, healthcare professionals and attorneys.

Due to the increasing number of vehicle accidents and related lawsuits, High Rise Legal Funding announced they are focusing on car accident pre-settlement funding in 2022.

Legal Bay, The Lawsuit Settlement Funding Company, announced today that on June 15, 2022, its recent New Jersey State Court lawsuit filing against Mustang Legal Funding and its principals has been removed to the United States District Court for the District of New Jersey, Newark Vicinage, by the Mustang Entities, James Beltz, and Kevin Cavanaugh. The case now bears the following docket name: Legal Bay LLC v. Mustang Funding LLC, et al., No. 22-cv-3941 (ES) (JBC). The matter has been assigned to District Judge Esther Salas and Magistrate Judge James B. Clark, III.

The following piece was contributed by Eric Schuller, President of the Alliance for Responsible Consumer Legal Funding (ARC).

Illinois becomes the latest State to bring proper regulation to the Consumer Legal Funding industry with the signing of SB 1099.

The following is a contributed piece from Rory Donadio, CEO of www.tribecalawsuitloans.com

There are many ways to look at what those of us in litigation funding do. Is it a pre-settlement cash advance or a non-recourse loan? Is it truly lending, or is it an investment? But far more important than what we call our work, is what we actually do. According to a September 2021 Bloomberg Law Litigation Finance Survey, 88% of the responding attorneys believe that litigation finance enables better access to justice.

More Americans than ever are living paycheck to paycheck. With inflation rising and a recession right around the corner—financial pressures on the average family are increasing. And lawsuits aren’t going anywhere, which is why Consumer Legal Funding is a vital and necessary option for average families seeking justice in a legal setting. Yet regulation threatens the availability and effectiveness of Consumer Legal Funding—with the potential to curtail justice for those of modest financial means.

The following piece was contributed by Eric Schuller, President of the Alliance for Responsible Consumer Legal Funding (ARC). 

The opponents of consumer legal funding often say that consumers do not need this product. That they have several other options which they can tap into, and as such, are trying to put up barriers through the legislative process in limiting consumers’ ability to have access to this vital piece of financial stability.

The following piece is a contribution by Charles W. Price, CEO of Capital Now Funding, LLC. 

The pre-settlement legal funding industry is often viewed in a negative manner by those outside of the industry, because settlement advances charge higher interest rates than traditional lending methods. The truth is, that without pre-settlement legal funding, those personally injured in accidents that were no fault of their own often do not have the financial means to properly care for themselves following a personal injury accident.  Therefore, pre-settlement legal funding plays a vital role by providing much-needed financial assistance for personal injury victims when they have no other options available to them.

This week marks the sixth anniversary of Terry Bollea (AKA professional wrestler Hulk Hogan) suing Gawker media for publishing a sex tape of him with a married woman. The suit made national news not just for its salacious nature—but because of the questions it raised regarding privacy versus journalistic freedom. Once news emerged that billionaire and PayPal co-founder Peter Thiel was funding Hogan’s claim, the case became even more sensational.

In this piece, we’ll take a look at exactly what happened in the case, and how it impacted (or hasn’t impacted) Litigation Finance.