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- Spotlight on the Middle East
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News and analysis dedicated to the consumer legal funding sector including mass torts, regulatory issues, case developments, funding activities, and more.
Consumer
279 Articles
Oasis Financial Becomes Libra Solutions as Offerings Grow
Oasis Financial announced today the change of its parent company name to Libra Solutions. The change was filed on January 10, 2022, and the company formally launched the new name February 23, 2022.
Alliance for Responsible Consumer Legal Funding (ARC) Teams Up with Money Management International (MMI) to Offer Customers Access to Financial Resource Site
The leading trade association for the consumer legal funding industry, Alliance for Responsible Consumer Legal Funding (ARC), a nonprofit organization, announces the relaunch ARCFinanciallyFit.com (Financially Fit), a website providing consumers with tools to achieve financial wellness, bolster emergency savings, and better prepare for a rainy day.
Litigation Is Driving Up U.S. Commercial Auto Insurance Costs, Study Finds
Social inflation—the impact of rising litigation on insurers’ costs—increased claim payouts for commercial auto insurance liability alone by over $20 billion between 2010 and 2019, according to a new paper by Insurance Information Institute (Triple-I), in partnership with the Casualty Actuarial Society (CAS).
Golden Pear Funding Closes $55.0 Million Corporate Note Financing
Golden Pear Funding (Golden Pear), a national leader in pre-settlement legal funding, announced the closing of a $55.0 million investment-grade rated, Senior Secured Corporate Note financing. The transaction was assigned a BBB rating by a nationally recognized statistical ratings organization. Proceeds will be used by the company to restructure existing debt and support additional growth of the business.
TRIBECA LAWSUIT LOANS NOW OFFERS LITIGATION FUNDING TO WRONGFULLY FIRED WORKERS
Victims of wrongful termination often suffer a one-two punch. Explains Rory Donadio, founder of Tribeca Lawsuit Loans, “Not only do they face a confusing maze of government claim procedures and lengthy court cases, but their financial security is also compromised.” Anecdotal evidence suggests that many unlawfully fired employees fail to pursue claims because they have to invest their energy into simply providing for themselves and their families.
Legal-Bay Lawsuit Funding Taking Applications on Astroworld and Other High Profile Personal Injury Claims
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.
Leading US firm Pogust Millrood merges into global firm PGMBM
Leading US mass tort and personal injury firm Pogust Millrood is to merge into the rapidly expanding international operation of global firm PGMBM.
NFL Concussion Lawyer Fights Order to Repay Litigation Funder
Craig Mitnick is a New Jersey lawyer who represented hundreds of current and former players in a settlement with the NFL. After taking part in a $1 billion settlement, Mitnick is now fighting an order to repay loans from a litigation funder amounting to more than $2 million. He has asked a federal judge to vacate the award to the finance company Balanced Bridge (formerly Thrivest), which also made settlement advances to former NFL players.
What’s in the New York Consumer Litigation Funding Act?
Litigation Finance has grown exponentially in recent years, with legislation trying to catch up. Opponents of the practice warn of frivolous litigation and usurious lending rates—owing to involvement from venture capitalists and other high-end investors. A recent New York Post editorial demanded increased oversight and new legislation governing the practice.
The Impact of Small Verdicts and Settlements on the Trucking Industry
After last year’s report on nuclear verdicts in trucking cases, the American Transportation Research Institute has released a new study—this time examining the impact of small verdicts and settlements on the trucking industry. In it, it’s suggested that smaller verdicts may be causing a spike in insurance prices.
LawCash®, Momentum Funding®, and Ardec Funding Will Merge to Form Cartiga — Push the Legal Tech and Financial Industry Forward
LawCash, Momentum Funding, and Ardec Funding, three companies that have pioneered the legal financial services industry for over 20 years, announced their new unified brand, Cartiga.
Experity Ventures Acquires Anchor Fundings
Experity Ventures LLC (EV) the parent company for several technology driven specialty finance business units that are focused on the litigation finance space has acquired 100% of the equity of New York based Anchor Fundings. The financial terms of the transaction were not disclosed.
Legal Funder Under Fire for Cash Advances in NFL Concussion Case
Craig Mitnick, a New Jersey lawyer who represented hundreds of NFL players in a concussion settlement, has asked a federal judge to vacate the award to a litigation funder. Balanced Bridge Funding (formerly Thrivest) provided advances to former players while they waited for settlement monies. Mitnick has been ordered by an arbitrator to repay more than $2 million in loans.
Erika Girardi Calls Fee Agreement ‘Unenforceable’
Erika Girardi’s legal troubles are far from over, it seems. A lawsuit filed by Tom Girardi’s former co-counsel alleges that she is responsible for fees that were misappropriated by her husband’s firm, Girardi Keese. The former Mrs. Girardi has called their claims unenforceable, as they are allegedly based on an “illegal and unethical” funding agreement.
KBRA Assigns Preliminary Ratings to Oasis 2021-2
Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to two classes of notes issued by Oasis 2021-2 LLC (“Oasis 2021-2”), a litigation finance ABS transaction.
Legal Funder Accused of Misusing $10 Million
Litigation lending has a reputation for unscrupulous, or even predatory behavior. One such lender, KrunchCash, was recently accused of squandering a large investment, hiding relevant information, and using threats to intentionally amplify risk to that investment.
Attorney Under Fire for Missing Oral Arguments Claims Sabotage by Opposition
Attorney Farva Jafri has been ordered to show cause as to why she should avoid disciplinary action for missing oral arguments in a recent case. The Seventh Circuit panel had ordered Farva to appear in court on the matter of costs. Farva did not.
