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May 24, 2018

NFL Settlement Judge Invalidates Lawsuit Loans

U.S. District Judge Anita Brody invalidated all lawsuit loans in the National Football League  (NFL) concussion settlement to “prevent breach of the settlement agreement,” Law360 reports.

Judge Brody ruled against Thrivest Specialty Funding, which challenged a claims administrator decision that found Thrivest’s loans violated the settlement agreement. Judge Brody said Thrivest’s challenge and effort to seek repayment was an “improper assault on the terms of the settlement agreement” since language in the agreement specifically forbids lawsuit loans.

Under the new order, lenders are allowed to seek a refund of the initial investment. However, if they unsuccessfully challenge the order they will lose the ability to seek reimbursement.

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