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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

268 Articles

Oasis Financial and Key Health Team Up with Los Angeles Trial Lawyers Charities

By John Freund |

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.

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SPONSORED POST: Segue Cloud Services Multi-Funding Case Study

By John Freund |

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.

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Montani semper liberi — “Mountaineers are Always Free”

By John Freund |

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.

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Balanced Bridge Reaffirms Their Commitment to Focus Exclusively on Post-Settlement Funding

By John Freund |

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.

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Litigation Funding & The Invisible Gorilla

By John Freund |

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.

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Litigation Finance Primer

SPONSORED POST: Litigation Finance Opportunity for ‘David vs. Goliath’ Case

By John Freund |

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.

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Legal-Bay Pre Settlement Lawsuit Funding Expects Numerous Multi-million Dollar Settlements In Defective Takata Airbag Cases

By John Freund |

MIAMIMarch 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.

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Legal-Bay Pre Settlement Funding Kicking Off 2019 With 24-Hour Approvals On Motor Vehicle Accidents And Personal Injury Cases

By John Freund |

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.

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Legal-Bay Announces Plans for Huge Expansion in 2019 Personal Injury Cases and Surgical Funding

By John Freund |

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.

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RD Legal Names Amy Hirsch As Portfolio Manager, Expands Data Analytics

By John Freund |

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.

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Looking Ahead in 2019

By John Freund |

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.

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Litigation Finance Primer

Probate Funding: A Useful Option for So Many

By John Freund |

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.

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Probate Funding: A Useful Option for So Many (Part 4 of 4)

By John Freund |

The following is Part 4 of our 4-Part series on Probate Funding by Steven D. Schroeder, Esq., General Counsel/Sr. Vice President at Inheritance Funding Company, Inc. since 2004. Parts 1, 2 & 3 can be found here, here and here.

What are the Risks in Probate Funding?

Similar to California Probate Code 11604, (formerly Cal. Probate Code 1021.1), the Legislature, in enacting Probate Code 11604.5, has specifically indicated that Assignments relative to Probate Advances will not be set aside unless it is clear that the consideration paid is “grossly unreasonable”, at the time the transaction was executed. In fact, the Probate Court can presume the validity of an Assignment, in the absence of any objection raised or evidence submitted to the contrary. See Lynch v. Cox. (1978) 83 Cal. App. 3rd 296, 147 Cal. Rptr. 861.

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Probate Funding: A Useful Option for So Many (Part 3 of 4)

By John Freund |

The following is Part 3 of our 4-Part series on Probate Funding by Steven D. Schroeder, Esq., General Counsel/Sr. Vice President at Inheritance Funding Company, Inc. since 2004. You can find Parts 1 & 2 here and here.

Probate Assignments are Adequately Regulated in California

In California, it is the exclusive jurisdiction of the Probate Court to determine entitlement for distribution, Cal. Probate Code §§11700-11705. Probate Courts may also apply equitable principles in fashioning remedies and granting relief in proceedings otherwise within its jurisdiction. Estate of Kraus (2010) 184 Cal. App 4th 103, 114, 108 Cal. Rptr. 3d 760, 768. Thus, even without a specific statute addressing assignments, Probate Courts in California, as well as other jurisdictions, have conducted oversight over the propriety of Assignments in Probate.  See In Re: Michels’s Estate 63 P. 2d 333, 334 (Cal. Dist. Ct. App. 1936).

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Probate Funding: A Useful Option for So Many (Part 2 of 4)

By John Freund |

The following is Part 2 of our 4-Part series on Probate Funding by Steven D. Schroeder, Esq., General Counsel/Sr. Vice President at Inheritance Funding Company, Inc. since 2004. Part 1 can be found here.

Comparing Assignments with Loans: Apples Are Not Oranges

As previously stated, there has been some recent criticism of the companies engaged in Probate funding.[1] An Article entitled: “Probate Lending” started and ended with the premise that Probate Assignments are in fact disguised loans and should be regulated as such. Despite the predetermined conclusion by one author, in fact, the law treats Assignments and Loans quite differently and those distinctions are significant.[2]

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Probate Funding: A Useful Option for So Many (Part 1 of 4)

By John Freund |

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.

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The Litigation Finance 2017 Year-in-Review

By John Freund |

Evolution. Maturity. Growth spurt. Those are the terms one might use to describe Litigation Finance in 2017.  The industry saw a flurry of activity that would make any beehive jealous: Markets opened, funds raised, legal precedents established, and a host of new entrants already looking to disrupt the lit fin industry, which itself is in the midst of disrupting one of the oldest institutions on the planet.

So let’s take a look back at how Litigation Finance ‘took off the training wheels,’ and properly came of age in 2017…

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