Litigation Funding Firm’s Claim Heads to Trial

A litigation funding company may move forward with its claims that a law firm helped its client structure a settlement so as to avoid paying back the full amount of a $35,000 advance, the New York Supreme Court, Richmond County held June 28 in a matter of first impression. The company—PS Finance LLC—loaned the litigant the money to cover expenses during his personal injury action, but upon settlement the court granted the litigant’s request to direct a large portion of the funds to his wife, leaving only $30,440.68 for the funding company. The court found that PS Finance stated a ...