The Kentucky Bar Association considered third party litigation financing in its ethics opinion KBA E-432 on March 20, 2011. In it they answered four questions:
1. May a lawyer assist a client in obtaining funds to cover the clientâs personal expenses during the pendency of an action?
2. If a lawyer assists a client in […]Continue Reading →
In 2002, the Florida Bar relaxed its opinion on pre-settlement funding in its Ethics Opinion 00-3. Before this opinion, attorneys in Florida could only advance money to clients for litigation purposes, meaning only expenses for the case, not personal. As you may well know, everyday living expenses can add up fast, especially […]Continue Reading →
Can an attorney encourage a pre-settlement finance company to lend money to his or her client? The Virginia State Bar Association issued an ethics opinion on this exact question. On November 15, 1988, they concluded that there is no ethical violation if an attorney helps a client to obtain funding as long “the attorney does not guarantee […]Continue Reading →
The State of Florida recently issued an opinion allowing attorneys and claimants to avail themselves of pre-settlement funding. The opininion indicates that an attorney may may provide a client with information about companies that offer non-recourse advance funding and other financial assistance in exchange for an interest in the proceeds of the client’s case if […]Continue Reading →
Great Bay Capital, a pre-settlement lawsuit funding company, guarantees they have the lowest rate pre-settlement advances. And to put their money where their mouth is Great Bay Capital has announced a “meet and beat” policy. If you are approved for an advance at a better interest rate, Great Bay Capital won’t only “meet” it, they […]Continue Reading →
Great Bay Capital announces today a new program aimed at providing competitive rate loans to law firms. Unlike pre-settlement lawsuit funding, this program is directed to the law firm that needs financing for operating costs and other business needs. It is not dependant on the quality of any particular case or inventory. If you are […]Continue Reading →
Colorado Attorney General John Suthers recently filed a lawsuit against a couple of our competitors regarding the availability of pre-settlement financing in Colorado. Attorney General Suthers wants to portray lawsuit pre-settlement funding as a “loan” so that it will fall under the ambit of the various consumer protection laws which are purportedly designed to protect consumers.
[…]Continue Reading →