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Alabama Court Rejects Settlement Factoring Deal, Awards Attorneys’ Fees to Insurers

Alabama Court Rejects Settlement Factoring Deal, Awards Attorneys’ Fees to Insurers

An Alabama court this month rejected a factoring company’s attempt to obtain judicial approval of a transfer of structured settlement payment rights – in a deal that would have traded more than $800,000 in settlement payments for an immediate payment of $4,000 – and awarded attorneys’ fees to the insurers that pointed out to the court how the factoring company failed to comply with applicable law. In CBC Settlement Funding, LLC v. Scott, Case No. CV-2017-092576.00, 2018 Ala. Cir. LEXIS…

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Oregon SSPA Adds New Findings As Prerequisites To Factoring Approval

Oregon SSPA Adds New Findings As Prerequisites To Factoring Approval

The revised Oregon Structured Settlement Protection Act (“Oregon SSPA”) went into effect with the first of the year, and the statute now includes additional requirements about the things that must be included by factoring companies in SSPA petitions (as described here), about evidence that courts may want to consider at the hearing (as described here), and about considerations courts may want to take into account as part of the “best interest” and “fair and reasonable” considerations (as described here). The Oregon SSPA also…

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