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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.

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275 Articles

Legal-Bay Pre-Settlement Funding Announces Expansion of Car Accident and Personal Injury Departments Due to Rising Amount of Cases

By John Freund |

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.

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ME Group Announces Second Senior Hire in Two Weeks

By John Freund |

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.

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Tribeca Capital Group, LLC, Converts COVID-19 Wrongful Termination Claims into Cash with Lawsuit Fundings

By John Freund |

NEW YORKAug. 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.

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Legal-Bay Announces Update to California Wildfires Negligence Claims

By John Freund |

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.

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Litigation Finance Data Suggests a Need for Post-Settlement Regulation

By John Freund |

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.

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How Did a $440K Law Firm Loan Balloon to $18MM?

By John Freund |

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.

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ABA Adopts Guidance in Third-Party Litigation Funding

By John Freund |

This article was contributed by Eric Schuller, President of the Alliance for Responsible Consumer Legal Funding (ARC).

On August 3, 2020, The American Bar Association (ABA) House of Delegates, by a vote of 366-10, voted to adopt the resolution for “Best Practices for Third-Party Litigation Funding”. This established a slew of national guidelines that law firms, consumers and legal funding companies should follow.

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Bryant Park Capital Advises ProMed Capital Ventures in Sale to Experity Ventures

By John Freund |

NEW YORKJuly 20, 2020 /PRNewswire/ — Bryant Park Capital (“BPC”), a leading middle-market investment bank, announced today that ProMed Capital Ventures, LLC (“ProMed” or the “Company”), a leading provider of financing to medical practices and facilities in the United States, has been sold to Experity Ventures, LLC, the parent company for several specialty finance and legal funding related services businesses in the United States, including Nexify Holdings, Medsolve Financial Group, and Thrivest Legal Funding, LLC dba Thrivest Link. The financial terms of the transaction were not disclosed.

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Pre-Settlement Lawsuit Funding Company Tribeca Capital Launches COVID-19 Program

By John Freund |

NEW YORKJune 17, 2020 /PRNewswire/ — In an effort to use its resources to bring relief and hope to those affected by unprecedented global circumstances, Tribeca Capital Group, LLC, an industry leader in pre-settlement lawsuit funding, announces that it has developed an initiative to reach lawsuit plaintiffs who have been touched by COVID-19 or have been negatively impacted by the sharp downturn in the economy.

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Key Takeaways from LFJ’s Digital Conference on Covid’s Impact on Consumer Legal Funding

By John Freund |

On June 11th, Litigation Finance Journal held a special digital conference on Covid’s impact on the Consumer Legal Funding industry. The panel discussion was moderated by Dan Avnir, Managing Director at Bryant Park Capital. Panelists included Eric Schuller, President of the Alliance for Responsible Consumer Legal Funding (ARC), Kevin Confoy, Chief Risk Officer of GloFin, Paul Galsterer, Founding Partner of The Injury Firm, Lawrence Yablon, Partner at Robinson Yablon PC, and Anthony Sebok, Professor of Law and Co-Director of the Jacob Burns Center for Ethics in the Practice of Law at Benjamin N. Cardozo School of Law.  

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Baker Street Funding Announces Increase in Commercial Litigation Funding Due to COVID-19

By John Freund |

Baker Street Funding, America’s #1 Choice for Legal Funding Firm, announced today that they have launched a commercial litigation focused legal funding division. This new division will focus on commercial litigation, lawsuit loans, or advances and attorney loans. Commercial litigation is often extremely complex and time-consuming. The cost of litigating these claims has increased exponentially and Baker Street Funding finds it as an under-served market in which they can thrive.

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Victory for Consumer Legal Funding in Recent Minnesota Case

By John Freund |

The common law doctrine that bans champerty has been around since the middle ages. This dark age law prohibiting funding for legal cases by outside parties (who then receive a share of a winning award) is still in place in some parts of the world. But Minnesota is no longer one of those places—earlier this week, the Minnesota Supreme Court abolished the champerty doctrine.

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Surge in Consumer Legal Funding Interest Reveals Economic Realities in Wake of COVID-19

By John Freund |

As the whole world struggles with COVID-19, existing economic disparities are heightened, and impossible to ignore. The pandemic has created an environment in which those already living paycheck to paycheck must now grapple with employers, insurers, and others who have let them down during this crisis.

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Litigation Finance News

Baker Street Funding Doubles-Down on Funding Efforts into Settled Cases to Help Create Immediate Liquidity for Attorneys and Their Clients Read more: http://www.digitaljournal.com/pr/4678997#ixzz6MHRUD7vR

By John Freund |

Baker Street Funding, LLC (Baker Street), a legal funding company located in New York and South Florida, is committing to increasing their litigation funding efforts on settled cases. This type of legal funding provides contingency fee based attorney and their clients with immediate liquidity to help bridge the gap between settlement and payment distribution.

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Legal-Bay Announces Increase in Commercial Litigation Requests Due to Covid-19

By John Freund |

CALDWELL, N.J.May 11, 2020 /PRNewswire/ — Legal-Bay LLC, the Lawsuit Settlement Funding Company, announced that they have launched a new legal funding division for commercial litigation, lawsuit loans or advances, and attorney loans for law firms. Commercial litigation cases can be extremely complex and require expansive resources for both plaintiffs and law firms to fight properly. Legal-Bay sees this as an under-served market and has built a new division to accommodate the needs of this market.

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Easy Legal Finance Inc. acquires Seahold Investments Inc.

By John Freund |

TORONTO, April 29, 2020 /CNW/ – Easy Legal Finance Inc. a Canadian litigation financing firm, announced today, the acquisition of Seahold Investments Inc. Based in Moncton and established in 2000, Seahold Investments Inc. is one of the first firms in the country to offer pre-settlement lending to personal injury plaintiffs.

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TriMark Legal Funding Announces Extension of $3,500 Automatic-Approval Pre-Settlement Funding to Aid People Impacted by Coronavirus/COVID-19

By John Freund |

EUGENE, Ore.April 29, 2020 /PRNewswire-PRWeb/ — TriMark Legal Funding LLC, one of the nation’s leading pre-settlement funding companies since 2003, announced today that, due to overwhelming popularity, it has extended its financial relief initiative originally launched on March 24th to provide $3,500 in immediate cash assistance to people nationwide who are currently involved in civil lawsuits and have been negatively impacted by Coronavirus/COVID-19. No ending date has been set.

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USClaims Again Named Best Consumer Litigation Funding Provider

By John Freund |

DRB Financial Solutions, LLC, is pleased to announce that its subsidiary, USClaims (www.USClaims.com), America’s premier pre-settlement funding company, was recently chosen as America’s Best Consumer Litigation Funding Provider by the audience of Corporate Counsel, the leading national legal and business news publication for in-house counsel at global companies.

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Legal-Bay Lawsuit Funding Announces “Feed or Fund” Donation / Promotion to Feed Families in April

By John Freund |

CALDWELL, N.J.April 13, 2020 /PRNewswire/ — Legal-Bay, the nation’s leading lawsuit settlement funding company, announced today that they have committed to providing coronavirus relief with their new “feed or fund” program. Plaintiffs who may be seeking legal funding are now being given even more incentive to apply for a settlement loan with this latest unprecedented offer.

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Baker Street Funding Is Experiencing A 50% Increase In Lawsuit Funding Applications Due To COVID-19 Pandemic

By John Freund |

Baker Street Funding announced today as a result of the effects of the global pandemic, COVID-19 and because of the unprecedented global shutdown of business activities, many people (including people who depended on Baker Street Funding) do not have the opportunity to earn an income. Baker Street Funding has increased their funding applications by 50%.

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USClaims Again Named Best Consumer Litigation Funding Provider

By John Freund |

DELRAY BEACH, Fla.April 6, 2020 /PRNewswire/ — DRB Financial Solutions, LLC, is pleased to announce that its subsidiary, USClaims (www.USClaims.com), America’s premier pre-settlement funding company, was recently chosen as America’s “Best Consumer Litigation Funding Provider”  by the audience of Corporate Counsel, the leading national legal and business news publication for in-house counsel at global companies.

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Multiple States Pursue Regulations Against Litigation Funders

By John Freund |

Last week, Utah became the latest state to introduce a litigation funding bill, as state senator James A. Dunnigan filed House Bill 312, which would force litigation funders to register with the Department of Commerce, and also aims to regulate how they operate. Many lawmakers are blaming litigation funding for the rising cost of insurance, which is an argument that is being made by Big Insurance and the Chamber of Commerce against the industry. 

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