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

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

“Millions of Americans Are Just 1 Paycheck Away From ‘Financial Disaster’” was the title in a recent story in Barron’s. The article stated that 51% of working adults in the US would need to access savings to cover necessities if they missed more than one paycheck. That is the equivalent of over 78.2 million Americans.

Oasis Financial announces the appointment of Greg Zeeman as its new Chief Executive Officer. Zeeman takes over responsibilities from interim CEO, Jack Lavin. Oasis Financial is the nation’s leading provider of consumer litigation finance solutions to plaintiffs, attorneys, and medical providers through its Oasis and Key Health brands. Both Mr. Zeeman and Mr. Lavin will continue to serve on the company’s Board of Managers.

Delray Beach, FL, May 09, 2019 –(PR.com)– U.S. Claims (www.USClaims.com), America’s premiere pre-settlement funding company, was recently awarded the top ranking in two “Best Of” categories by readers of The Daily Report, a daily legal newspaper based in Atlanta, Georgia that covers Georgia legal and business news. U.S. Claims will be featured in the “Best Of Edition” of the Daily Report as first place winners, in “Best Consumer Litigation Funding Provider” and “Best Law Firm Funding Provider” categories.

The following article was contributed by Michael Lohrer, Chief Technology Officer of Segue Cloud Services.

When it comes to technology for the legal finance community, more often than not market solutions have been designed as pre-set software, produced to function in one particular fashion to address organizational processes or workflows. End-users are often encouraged to give feedback on desired changes and customization, but revisions to the finished product are difficult for developers to fulfill after-the-fact. A pre-determined GUI and set functionality doesn’t always accommodate the ongoing needs of the customer—particularly for those who hope to grow their practices.

Oasis Financial and Key Health Medical Solutions, sister companies focused on helping personal injury victims get pre-settlement funding and access to medical care, are proud to announce their support of the Los Angeles Trial Lawyers’ Charities (LATLC). The LATLC has served the greater Los Angeles community for 13 years, providing more than $4,400,000 in grants, gifts and goods to improve the quality of life in the community by supporting issues related to education, childhood hunger, survivors of abuse, persons with disabilities, and homelessness.

The Following sponsored post was contributed by Segue Cloud Services.

The Challenge

Multi Funding USA is a pre-settlement finance provider that serves attorneys and their plaintiffs. The company has been serving clients for nearly a decade, providing millions of dollars in financial support in jurisdictions like New York, New Jersey, Connecticut, Vermont, Texas, California, Florida, and Washington. Through its pre-settlement funding services, plaintiffs can access much needed funds during the often lengthy settlement process as they wait for their cases to be resolved. When a case concludes in favor of the plaintiff, Multi Funding recoups its investment at a preferred rate of return.

Last Thursday, DealFlow Events held their first annual Litigation Funding Forum in New York City. Industry participants gathered at the TKP Conference Center in midtown Manhattan to network and discuss the most pressing issues facing the industry today.

The Center on Civil Justice at NYU School of Law has launched a comprehensive digital library of documents relating the third-party litigation funding industry.

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

Montani semper liberi; “Mountaineers are Always Free” is the motto of the State of West Virginia, but apparently the motto only applies to a select group of Mountaineers. The Legislature of West Virginia passed – and the Governor signed into law – Senate Bill 360 which sets out to regulate Consumer Legal Funding in the state. Unfortunately, SB 360 is a set of meaningless regulations, given that the legislation implements rate restrictions on the Consumer Legal Funding Industry which restrict the product from even being offered to the citizens of the state. So in essence, SB 360 bans the product altogether.

JERSEY CITY, N.J., March 26, 2019 /PRNewswire/ — Legal-Bay LLC, The Pre Settlement Funding Company, announced today that they will be expanding their funding for IVC lawsuits, effectively immediately.

ARDMORE, Pa., March 22, 2019 /PRNewswire/ — Specialty finance firm Balanced Bridge Funding (“Balanced Bridge”), which offers to accelerate fees, awards, salaries, claims, contract earnings, and other future receivables across numerous asset classes, has made a commitment to focus the legal funding portion of their business exclusively on post-settlement funding.

The following post was submitted by Dean Lipson, Partner of Covered Bridge Capital.

Ever hear of the psychological experiment known as the Invisible Gorilla?[1]  It goes like this: You’re asked to watch a brief video of a group of people moving randomly about in a pack. Several of these people are wearing white shirts and passing a ball amongst themselves. You’re asked to count the number of passes that occur. During the video, a person dressed as a gorilla enters the middle of the pack and, while facing the camera, thumps his chest for a few seconds then exits. The video ends and you’re asked to give the number of times the ball was passed. Most likely, you get that right. You’re then asked if you saw the gorilla. Huh, what gorilla? Yes, despite being on-screen for 9 seconds, half of all participants in the experiment never see the gorilla.

Loewinsohn Flegle Deary Simon is prosecuting a claim valued at $31m. We are raising $2.3m for return within 12 months, possible additional upside. $450k to close, balance on run rate 30 days net to trial.

The claimant is a single individual plaintiff who is a very credible former investment banker. Claimant is very knowledgeable and is committed to conclusion of the claim. One defendant is a large international financial institution and the second defendant is a highly liquid mortgage loan originator. Case documents are structured finance and real estate. Defendant’s counsel is a national general practice firm, lead defense counsel is 4-year partner. This is a complex financial claim, fact intensive, document case. Documents we hold support an opinion letter from a legal 500 firm at 80% chance of recovery. Damages are supported by preliminary economic expert and other case documents.

MIAMI, March 12, 2019 /PRNewswire/ — Legal-Bay, The Pre Settlement Funding Company, reports today that the ongoing legal saga concerning Takata airbags isn’t over yet. Plaintiffs are still filing suit against major car manufacturers including Ford, Mazda, and Toyota, citing injuries that have resulted from faulty airbags in their vehicles.

TALLAHASSEE, Fla., March 7, 2019 /PRNewswire/ — Legal-Bay, the premier Pre Settlement Funding Company, announced today that they are preparing for huge growth in their medical malpractice department.

New York, NY, Feb. 22, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — DealFlow Events is pleased to announce the agenda for The Litigation Funding Forum 2019 coming up April 4 in New York City.

TopConsumerReviews.com recently awarded their highest five-star rating to Prime Case Funding, an industry leader in lawsuit funding companies.

ALBANY, N.Y., Feb. 11, 2019 /PRNewswire/ — Legal-Bay, the premier pre-settlement lawsuit funding source, reports that Governor Cuomo assisted in passing a legislation to extend filing deadlines for sexual abuse survivors in the state of New York (A.8401-C/S.8977).

“The more money our clients invest in advertising, the bigger their firms get, and (consequently) they keep returning for more capital.”

– Joshua Collins, Chief Investment Officer of Attorney Capital Funding,
on why his company is currently experiencing such massive growth.

JERSEY CITY, N.J., Jan. 28, 2019 /PRNewswire/ — Legal-Bay LLC, the pre settlement funding company, is poised to offer 24-hour approvals for victims of personal injury and car and truck accidents. During this time of year, accidents spike due to icy road conditions and reckless driving. Car, semi truck, and other motor vehicle accidents including public bus transportation are prevalent at this time of year, especially when weather conditions are taken into consideration.

JERSEY CITY, N.J., Jan. 14, 2019 /PRNewswire/ — Legal-Bay, the premier Pre Settlement Funding Company, announced today that they are preparing for huge growth in their personal injury and surgical funding departments. Legal-Bay is one of the leading lawsuit funding companies in the industry who also offers a very fast approval process.

CRESSKILL, N.J., Jan. 10, 2019 /PRNewswire/ — RD Legal, a leading investment management firm focused on post-settlement litigation finance, said today that it has named Amy B. Hirsch to the additional role of Portfolio Manager for the firm’s strategies.  Ms. Hirsch joined RD Legal in 2016 as Co-Chief Investment Officer and Chief Operating Officer.

NEW YORK–(BUSINESS WIRE)–Jan 9, 2019–YieldStreet, a digital wealth management platform that is working to change the way that wealth is created, has become the first multi-asset platform to cross over $560MM invested since inception.

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

As the 2019 Legislative Session begins, we want to take a look at what is the best way to regulate Consumer Legal Funding. Over the past few years, the states have introduced several pieces of legislation with the aim of regulating Consumer Legal Funding. Rather than simply introduce capricious regulations, legislators should familiarize themselves both with the product, and the consumers who need it, before making rash decisions that will impact their constituents for life.

The following is a contributed article by Steven D. Schroeder, Esq., General Counsel/Sr. Vice President at Inheritance Funding Company, Inc. since 2004. 

There have been a few recent articles written on the topic of Probate Advances.[i] Probate Advances are available because a handful of companies are willing to assume a risk and provide funding in return for a partial assignment of a beneficiary’s interest in an Estate, and to a lesser extent Trust Proceedings. One critic has conflated Assignments to Loans without a fair analysis of the many differences between the two legal maxims.[ii] This 4-part series expands upon those differences and provides a legal and practical perspective as to why Probate Advances are a useful option for so many.