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Author: Peter Vodola

Law Professor Also Looks at Idea of Ban on Factoring By Lead Poisoning Victims From Viewpoint of Taxpayers, Parents, Investors

Law Professor Also Looks at Idea of Ban on Factoring By Lead Poisoning Victims From Viewpoint of Taxpayers, Parents, Investors

In her article calling for a ban on transfers of structured settlement payment rights by lead poisoning victims (described here, here, and here), law school Professor Karen Syma Czapanskiy’s article analyzes some of the issues from the point of view of investors in such transactions, as well as from the viewpoint of taxpayers. Among the University of Maryland professor’s additional comments are the following. Banning Sales Protects the Taxpayer:  “[B]anning sales would . . . protect the community and the…

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In Calling For Ban on Settlement Factoring Transactions by Lead Poisoning Victims, Law Professor Says Current Laws Are Inadequate

In Calling For Ban on Settlement Factoring Transactions by Lead Poisoning Victims, Law Professor Says Current Laws Are Inadequate

Current laws regarding the sale of structured settlement payment rights are inadequate to protect lead-poisoning victims. So says law school Professor Karen Syma Czapanskiy in her recent article, “Structured Settlement Sales and Lead-Poisoned Sellers: Just Say No”, in the Virginia Environmental Law Journal (36 Va. Envtl. L. J. 1). The University of Maryland School of Law professor argues that sales of structured settlement payment rights by lead poisoning victims should be banned. Professor Czapanskiy offered a number of criticisms of…

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Law Professor’s Article Describes Circumstances, Legal Landscape For Parents and Others, in Pointing Out that Lead Poisoning Victims Are Especially ‘Exploitable’

Law Professor’s Article Describes Circumstances, Legal Landscape For Parents and Others, in Pointing Out that Lead Poisoning Victims Are Especially ‘Exploitable’

Law school professor Karen Syma Czapanskiy’s recent law review article advocates a ban on transfers of structured settlement payment rights when the payee is a lead poisoning victim. She also makes a number of other thought-provoking comments in her article is entitled “Structured Settlement Sales and Lead-Poisoned Sellers: Just Say No”, appearing in the Virginia Environmental Law Journal (36 Va. Envtl. L. J. 1). Professor Czapanskiy, a professor at the University of Maryland School of Law, wrote about the prevalence…

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Ban Factoring Where Structured Settlement Payee Is A Lead Poisoning Victim, Advocates Maryland Law School Professor

Ban Factoring Where Structured Settlement Payee Is A Lead Poisoning Victim, Advocates Maryland Law School Professor

A 2018 law review article poses the question of whether structured settlement factoring transactions by lead-poisoning victims should be permissible under the law – and concludes “that allowing such sales is unjustifiable”. The article, “Structured Settlement Sales and Lead-Poisoned Sellers: Just Say No”, by University of Maryland School of Law Professor Karen Syma Czapanskiy, appears in a recent edition of the Virginia Environmental Law Journal (36 Va. Envtl. L. J. 1). Professor Czapanskiy begins her article describing the most famous…

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News Report: Newest Litigation Funding Legislation Is ‘Toothless’, Says Rival Bill’s Sponsor

News Report: Newest Litigation Funding Legislation Is ‘Toothless’, Says Rival Bill’s Sponsor

Following several articles on litigation funding during the first week of the year, The New York Post has reported on competing legislative proposals offered by New York politicians aimed at regulating the industry. And one bill is “toothless”, says a sponsor of an earlier piece of legislation that would cap interest rates that litigation funders could charge, according to the Post. The Post’s article, Lawmakers Square Off Over Profitable Cottage Industry, is available here. Earlier related Secondary Insurance Market Blog…

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Texas Appeals Court Affirms Decision Turning Away Viatical Investor’s Claims

Texas Appeals Court Affirms Decision Turning Away Viatical Investor’s Claims

A Texas court of appeals yesterday affirmed a trial court’s decision rejecting claims, by an investor in viaticals, against life insurance agents who procured more than $70,000,000 worth of life insurance policies – investments that resulted in losses of more than $3 million. In Jessen v. Duvall, No. 14-16-00869-CV, 2018 Tex. App. LEXIS 1369 (Tex. Ct. App. Feb. 22, 2018), the Texas Court of Appeals, Fourteenth District (Houston), held that the investor had standing to bring claims that included fraud and…

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A ‘No-Call’ in the NFL Concussion Settlement Litigation? Litigation Funders May Think Twice About Ruling That’s Now Being Appealed

A ‘No-Call’ in the NFL Concussion Settlement Litigation? Litigation Funders May Think Twice About Ruling That’s Now Being Appealed

A litigation funding company has filed an appeal from the ruling last month by the judge overseeing the NFL concussion settlement – a ruling that invalidated litigation funding agreements with cognitively-impaired ex-players. And that ruling raises a question: did the judge make a no-call, like NFL refs sometimes do – that could have prevented the litigation funders from even attempting to recoup any monies paid to the players. That question gets explored in a LinkedIn article available here.  An article…

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In J.G. Wentworth’s Second Bankruptcy, Trustee Objects, But Court Approves Plan

In J.G. Wentworth’s Second Bankruptcy, Trustee Objects, But Court Approves Plan

Settlement factoring company J.G. Wentworth has emerged from its second bankruptcy in less than a decade. Judge Kevin Gross, of the U.S. Bankruptcy Court for the District of Delaware, earlier this month issued an order confirming a prepackaged reorganization plan of J.G. Wentworth based on an agreement with its lenders. A trustee had objected to the plan (see “JG Wentworth Ch. 11 Plan Approved Over Trustee Objection”, Law360 (subscription required), available here), but nonetheless the court approved the plan on…

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Another Secondary Market Company Files For Bankruptcy

Another Secondary Market Company Files For Bankruptcy

Less than a month after the bankruptcy filing of J.G. Wentworth (as described here), another settlement factoring company has filed for bankruptcy. Woodbridge Structured Funding is one of the Woodbridge companies that has sought bankruptcy protection. Many news stories describe not only the bankruptcy filing but also the Securities and Exchange Commission’s probe.  Among the stories are the following: “Property Group Woodbridge Files For Bankruptcy Amid SEC Probe”, Reuters, available here; “Woodbridge Bankruptcy Burns Advisers And Real Estate Investors”, Investment…

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Litigation Funding Business Is ‘Littered With Ethical And Philosophical Quagmires’ Says U.S. News & World Report Article

Litigation Funding Business Is ‘Littered With Ethical And Philosophical Quagmires’ Says U.S. News & World Report Article

A reporter for U.S. News and World Report this week took a look at the “lightly regulated” business of litigation financing, and came away with some interesting comments about the “perverse”business. In a January 22, 2018 article headlined “How Wall Street Invests in Justice”, investing reporter John Divine said that “Litigation financing is an incredibly innovative and interesting creation of high finance, but it’s littered with ethical and philosophical quagmires.” Among his other comments were the following: The “obscure field…

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