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Class action against litigation/settlement funding firm



Kelly Holleran at the Madison County Record reports that attorneys Thomas Maag and Peter Maag have filed a putative class action against Whitehaven Settlement Fund, a litigation funding firm that lent money to Illinois litigants in defiance (they say) of Illinois policy against assigning litigation claims. They say the firm employed a choice-of-law clause purporting to bring the dealings under New York law, as well as a requirement that disputes be arbitrated in New York. Apparently this is not the first class action to be aimed at a litigation settlement funding firm; Popehat cites the 2005 North Carolina case of Odell v Legal Bucks LLC, which led to this mixed ruling last September by an appeals court in that state.

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Isaac Gorodetski
Project Manager,
Center for Legal Policy at the
Manhattan Institute
igorodetski@manhattan-institute.org

Katherine Lazarski
Press Officer,
Manhattan Institute
klazarski@manhattan-institute.org

 

Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.