This article was contributed by Eric Schuller, President of the Alliance for Responsible Consumer Legal Funding (ARC).
In today’s “us vs. them” political environment, it is refreshing to see exceptions in the state of Utah. I saw one example of people working together in the political environment during Utah’s most recent legislative session.
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%.
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.
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.
Consumer Legal Funding has been a hot-button issue in Missouri for some time. There has been some concern from industry participants that Missouri may go the way of West Virginia and effectively ban the industry, but it is doubtful the legislature will take up the issue of capping rates on funding transactions in the next legislative session.
NEW YORK (PRWEB) JANUARY 15, 2020: Baker Street Funding is a legal funding firm located in New York City that specializes in providing plaintiffs and attorneys with pre and post-settlement funding. The driving force behind this organization is Daniel DiGiaimo, the CEO and President. Mr. DiGiaimo has an impressive back-ground in financial services and previously worked at Morgan Stanley, Merrill Lynch and Oppenheimer & Co. Holding a minor in Law and a BA in Finance from PACE University, Mr. DiGiaimo manages all funding decisions and is responsible for the success of the company.
In List Interactive, Ltd. v. Knights of Columbus, Judge R. Brooke Jackson denied a motion to restrict public access to litigation funding agreements, finding that the content of the agreements are in the public interest. Judge Jackson confirmed that dollar amounts and specific terms may constitute trade secrets, but ruled that restricting access to the entire agreement is ‘grossly overbroad.’
Woodstock, NY—November 18, 2019, — Segue Cloud Services, a leading provider of cloud-based litigation finance management tools for the legal community, announced that it has appointed Kevin Flood, a proven business leader and former executive with the Coca-Cola Bottling System, as its new Chief Operating Officer. Flood will design and implement Segue Cloud Services’ ongoing business strategy, delivering both short- and long-term growth plans to build a robust organization serving attorneys and law firms across the United States.
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.
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.
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.
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.
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.
JERSEY CITY, N.J., Nov. 6, 2019 /PRNewswire/ — Legal-Bay LLC, The Lawsuit Pre Settlement Funding Company, reports a win for the victims of child sexual abuse at the hands of clergy members. After years of fighting, Governor Phil Murphy signed a law that offers victims of abuse the ability to sue their abusers up until they turn 55, or within seven years of their realization that the abuse caused them harm.
After the state of West Virginia amended article 6N of its Consumer Credit and Protection Act this past summer, the litigation funding industry has essentially been prevented from operating in the state. And that’s exactly what industry opponents were hoping for.
DELRAY BEACH, Fla., Nov. 5, 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 that U.S. Claims has closed on yet another private placement transaction. This marks the company’s second litigation advance backed transaction of the year and DRB Financial’s fourth term securitization transaction involving this asset class overall. It primes U.S. Claims to continue its run of impressive growth.
Woodstock, NY—October 21, 2019 — Multi Funding USA, a leading pre-settlement funding provider serving law firms, attorneys and plaintiffs, announced that it has received authorization to provide pre-settlement funding to lawyers throughout the state of Ohio. Through its advanced and secure technology, attorneys can easily apply for litigation financing on Multi Funding USA’s secure website, and receive automated notifications, documentation, and funding in an expedited manner.
NEW YORK, NY / ACCESSWIRE / September 23, 2019 / A leading pre-settlement funding provider, Baker Street Funding LLC, announced today the closing of a series A round of investment into their Attorney Funding Division. Founded in 2018, Baker Street Funding has quickly become a rising star in the legal funding space and their core business model is to provide plaintiffs with much needed liquidity while their case is awaiting settlement. The newly named Attorney Funding Division will provide Attorney Funding to law practitioners across the country.
The Center on Civil Justice recently launched its Dispute Financing Library, a free, neutral repository of documents relating to the third-party litigation funding industry. It is online at www.DisputeFinancingLibrary.org.
Couples save for weddings, not divorces. As a result, many are cash-strapped and taken aback by the high costs of divorce. This places undue burden on attorneys, who must often choose between working on contingency or turning away clients. Fortunately, divorce attorneys can leverage divorce funding options, which allow receivables to be covered as they emerge.
KATONAH, NY / ACCESSWIRE / October 1, 2019 / Modeso LLC dba RapidFunds (“RapidFunds” or the “Company”) announced today that it has closed on a $70 million term loan facility, consisting of a $40 million delayed draw term loan and $30 million accordion feature, with a multi-billion dollar institutional investment firm. This financing provides the Company a long-term capital partner to enable RapidFunds to grow its business and expand its network of law firm relationships.
Woodstock, NY—September 24, 2019 — Multi Funding USA, a leading pre-settlement funding provider serving law firms and attorneys, announced that it has received NMLS (Nationwide Mortgage Licensing System and Registry) certification, indicating that the company has the financial resources and security protocols to satisfy the needs of lawyers and plaintiffs. Applying for NMLS certification is completely voluntary. Only a select group of litigation finance providers have applied and received NMLS designation.
PARADISE, Calif., Sept. 9, 2019 /PRNewswire/ — Legal Bay Lawsuit Funding reports that as of last month, residents of northern California who have been displaced by the 2017 wildfires and 2018 Camp Fire 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. It is intended to help the uninsured and/or anyone who needs financial assistance with housing costs or even daily living expenses while they rebuild their lives. Applications for funding are now open.
The following is a contribution from Eric Schuller, President of the Alliance for Responsible Consumer Legal Funding (ARC).
What is the best way to reduce the amount of companies offering Consumer Legal Funding?
Simple: Put a RATE on it!
In Beyonce’s “Single Ladies (Put a Ring on it),” the lyrics read: “If you like it then you shoulda put a ring on it.” The US Chamber and Insurance Industry are singing a similar tune when it comes to Consumer Legal Funding. However in their song, the lyrics read: “Put a RATE on it.”
PENSACOLA, Fla., Aug. 12, 2019 /PRNewswire/ — Legal-Bay LLC, The Pre Settlement Funding Company, announced today that they will be the first lawsuit funding company to begin offering cash advances for veterans who are involved in the 3M earplug litigation.
Tom Girardi, of the eponymous law firm Girardi Keese, has been ordered to deliver to his financials to the court after he failed to pay $6MM of a $16MM settlement with Law Finance Group. Law Finance sued Girardi for failure to repay a $15MM loan, and eventually settled on the $16MM figure, only to claim that Girardi skipped out on the final $6MM payment.
Lawsuit Loans Market Industry Research Report focuses Market Size, Share, Growth, Manufacturers and Forecast to 2026. This Market Research Report primarily based upon factors on which the companies complete in the market and this factor which is useful and valuable to the business. This report has published stating that the Global Lawsuit Loans Market is anticipated to expand significantly at Million US$ in 2019 and is projected to reach Million US$ by 2026, at a CAGR of during the forecast period.
Global Lawsuit Loans Market Report 2019 is a professional and in-depth research report on the world’s major regional market conditions of the Lawsuit Loans industry, focusing on the main regions (North America, Europe and Asia) and the main countries (United States, Germany, Japan and China).
JERSEY CITY, N.J., July 22, 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.
JERSEY CITY, N.J., July 17, 2019 /PRNewswire/ — Legal-Bay LLC, The Pre Settlement Funding Company, announced today that they continue to see a large volume of IVC filter patients needing cash advances. Top IVC filter manufacturers have recently lost bellwether trials, and Legal-Bay believes this could signal a shift toward settling pending cases within the upcoming months.
