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Novation’s Complaint Failed to State Antitrust Claim Against J.G. Wentworth Companies, Says Federal Court

Novation’s Complaint Failed to State Antitrust Claim Against J.G. Wentworth Companies, Says Federal Court

A federal district court judge this month dismissed an antitrust lawsuit filed by a structured settlement factoring company against a competitor factoring company. In a May 18, 2015, opinion in Novation Ventures, LLC v. The J.G. Wentworth Co., LLC, et al., Case No. 2:15-cv-00954-BRO-PJW (C.D. Calif. May 18, 2015), U.S. District Court Judge Beverly Reid O’Connell granted defendant J.G. Wentworth Company, LLC’s motion to dismiss the lawsuit filed by Novation Ventures, LLC, on the grounds that Novation had failed to state antitrust…

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Court: Former Executives Did Not State A Claim Against J.G. Wentworth

Court: Former Executives Did Not State A Claim Against J.G. Wentworth

A Delaware court last month dismissed claims by former J.G. Wentworth executives seeking $35 million in compensation under a tax receivables agreement. Law360’s story about the decision dismissing the case (“JG Wentworth Dodges Former Execs’ $35 Million Tax Suit”) is here, the Courthouse News Service’s write-up (“Judge Says No to ‘Get Cash Now’ Founders”) is here, the Delaware Business Litigation Report’s piece (“Court of Chancery Explains Contract Interpretation”) is here, and the full opinion is available here.

A Factoring Transaction Might Need Approval From More Than One Court – But The Factoring Company May Need To Provide an Explanation

A Factoring Transaction Might Need Approval From More Than One Court – But The Factoring Company May Need To Provide an Explanation

Under the laws of forty-eight states, structured settlement factoring transactions are generally effective unless and until they receive court approval, by way of a court order issued pursuant to applicable structured settlement protection act (SSPA) requirements. Sometimes, those requirements can mean that the transfer needs approval from more than one court.  A commentary on the subject describes an example this way: For example, if a factoring company proposes to acquire a structured settlement payment rights from a payee who is…

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New York Judge Determines That Structured Settlement Factoring Transaction That Involved A Forged Court Order Was ‘Tainted By Fraud’

New York Judge Determines That Structured Settlement Factoring Transaction That Involved A Forged Court Order Was ‘Tainted By Fraud’

A structured settlement factoring deal that was “tainted by fraud” was also not “fair and reasonable” and warranted rejected, according to a New York state court judge in a recent opinion addressing the circumstances of a case involving a forged judicial order. The judge denied a request for court approval of a transfer of structured settlement payment rights in the case – brought before the court on a petition for court approval of the transfer under the New York Structured Settlement…

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News Stories Focus On J.G. Wentworth’s Parent’s Initial Public Offering

News Stories Focus On J.G. Wentworth’s Parent’s Initial Public Offering

There have been a number of stories in the news about  J.G. Wentworth’s owner’s initial public offering.  Here are a few recent articles: J.G. Wentworth Owner Trims IPO Terms to 9.75 Million Shares, appearing last week in the Wall Street Journal. JGWPT Holdings Inc. Announces Pricing of Its Initial Public Offering, from Globe Newsire. J.G. Wentworth Parent Falls After IPO Prices Below Reduced Range, and J.G. Wentworth Operator Seeks Up to $268 Million in U.S. IPO, both from Bloomberg News….

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