News
July 2, 2020

Litigation Funder Gave $100K To Plaintiff, Expects $2 Million Back

A lawsuit in New York shows what happens when a litigation funder’s client hits a jackpot and decides not to settle up, according to a report in Legal Newsline. LawCash sued Jinsoo Nho and the Law Offices of Choi & Park seeking payment of $2 million from Nho’s nearly $7 million settlement. LawCash had provided $100,000 under the agreement with Nho.

Litigation funders provide cash to plaintiffs while their lawsuits are pending in exchange for a portion of whatever is recovered. While the interest on Nho’s agreement would ordinarily violate usury laws, litigation funders argue their agreements are not traditional loans and therefore not subject to those laws.

News Michigan Enacts Law To Protect Businesses From Coronavirus Lawsuits COVID-19 Liability News OPINION: “COVID Recovery Shouldn’t Include Frivolous Antibusiness Lawsuits” COVID-19 Liability News Plaintiff Hasn’t Said He Used Hand Sanitizer He’s Suing Over, CVS Says Class Action Litigation, COVID-19 Liability News, Video Summit 2020: Future in Focus - Video Showcase Class Action Litigation, Over-Enforcement News New Study Shows Small Businesses Shoulder Disproportionate Amount Of Commercial Tort Costs Class Action Litigation
We use cookies to make your experience better:
View Our Privacy Policy