Last year, Secondary Insurance Market Blog included a number of posts about disputes between factoring companies. One such post described an appellate opinion from Arizona concerning a lawsuit between two factoring companies over a lottery payment factoring dispute: Arizona Appeals Court Rules For Winner Of Race To The Courthouse In Legal Battle Between Two Factoring Companies Over Lottery Payments is linked here.
Arizona Appellate Blog also wrote a post about the same opinion, Woodbridge Structured Funding, LLC v. Arizona Lottery, No. 1 CA-CV 13-0043, 2014 Ariz. App. LEXIS 89 (Ariz. Ct. App. ay 13, 2014). The post, available here, included these comments:
- The case is about intervention “and a small story illustrating the decline of modern times”;
- “A mere contingent interest in the property is not enough” to allow intervention and the court approval requirement made the would-be intervenor’s “interest contingent upon that approval”; and
- A failure to intervene would not necessarily prevent the would-be intervenor “from suing the parties involved”.