Litigation Finance and Small Businesses. Opponents of litigation financing often argue that it empowers lawyers to go after small businesses that lack the resources to fight back. Many such opponents, of course, aren’t small businesses themselves; they’re large companies that typically enjoy litigation resources vastly superior to those of their opponents. Which may be why they forget that although small businesses do get sued, they can also be victims of commercial wrongs. When that happens, why shouldn’t they have the same access to top-flight lawyers, experts, and other litigation assets that big business has when it goes to court? This recent article on one small business's success in leveling the playing field – a story also to be featured on this Sunday’s upcoming CBS "60 Minutes" broadcast – shows that they don’t have to.
The complex and evolving world of third-party litigation funding is highlighted in a recent legal dispute between two Little Rock attorneys. This case underscores the sometumes contentious nature of litigation financing, revealing its potential to reshape legal strategies and financial dynamics within the industry.
https://lnkd.in/dBwgVqqx#LitigationFinance#LegalIndustry#ThirdPartyFunding#LegalDisputes#LawPractice.
Navigating Legal Battles: How Litigation Finance is Changing the Game
Litigation finance has become popular in the legal world, especially today. This term is also known as legal funding or third-party litigation funding and has created a special way for individuals and corporations to obtain financial assistance during court processes.
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Litigation is expensive. This guide simplifies the complex world of litigation financing. You'll learn:
⚖️ What litigation financing can provide for your firm
⌛️ New micro-financing options
💰 How the financing process works
🤔 What’s coming in the years ahead
Download: https://bit.ly/4bJQYQt
Sponsor: Steno#Paralegal#Litigation#LitigationFinancing
Navigating #Receiverships in New York: Protecting Your Business with Provisional Remedies
In our recent Q&A, Pitcoff Law Group’s Founder and Managing Partner, Ross Pitcoff, highlighted the importance of provisional remedies like receiverships in New York business litigation.
The purpose of provisional remedies is to prevent a plaintiff from enduring years of litigation, only to win a judgment on paper that holds no value due to bad faith actions by the opposing party.
Imagine spending three years in court, navigating depositions, discovery, and trial, only to find that the business or asset you were fighting for is now worthless.
Here are some key takeaways from Ross Pitcoff’s discussion:
1. Why Provisional Remedies Matter: The courts grant provisional remedies to ensure that plaintiffs aren’t left empty-handed at the end of a lengthy litigation. Without such protections, bad faith actors could render businesses or assets worthless while the case is pending, leaving a plaintiff with a judgment that has no real-world value.
2. Understanding Receiverships: A receivership goes a step further in protecting plaintiffs. In this process, the court appoints an impartial receiver to take control of a business or property when there is a significant dispute. This legal procedure ensures that the company or asset in question remains intact and properly managed during litigation.
3. The Versatility of Receiverships: Receiverships are a versatile tool in litigation. Not only do they ensure the day-to-day operations of a business continue, but they also allow for investigation into mismanagement or financial misconduct. This makes receiverships especially valuable in cases involving significant financial disputes among stakeholders.
4. Protecting Your Interests: By appointing a receiver, the court safeguards business operations, financial stability, and asset integrity, ensuring that stakeholders don’t manipulate or degrade assets during litigation.
Missed the LIVE last week? No problem!
Click the link below to watch the full video to dive deeper into the process and understand how Pitcoff Law Group can help protect your business:
[ ▸ ]: https://lnkd.in/ey3dgS-2
Need advice on whether a receivership is right for your business?
We’ll walk you through every step, ensuring your business is protected during complex litigation.
Contact Pitcoff Law Group today for personalized legal support.
We would be happy to assist you.
#businesslitigation#litigationlaw#legalguidance
Download this litigation financing guide to learn:
• What litigation financing can provide for your firm
• New micro-financing options available for law firms
• How the financing process works
• What’s coming in the years ahead
Don't miss out! https://bit.ly/4bJQYQt
Sponsor: Steno#Paralegal#LitigationFinancing#LawFirm
Bailey Glasser and a group of leading law firms today filed a motion to show cause why a preliminary injunction ought not issue to stop Johnson & Johnson and its subsidiaries from pursuing a new bankruptcy filing in any district other than in New Jersey, where tens of thousands of civil lawsuits are already consolidated in multidistrict litigation.
J&J recently announced the pursuit of a prepackaged bankruptcy plan to resolve talc claims in an unspecified federal court in Texas. Two previous bankruptcy filings by the company have been denied by the courts in New Jersey, where J&J is headquartered. In today’s filing, we seek a temporary restraining order on the basis that J&J is attempting to evade jurisdiction and continue to manipulate the bankruptcy process to disadvantage tens of thousands of women who developed cancer from continued use of Johnson’s products. We also seek to prevent any amendments to agreements between J&J and its subsidiaries to fund the plan without notifying the plaintiffs.
The Bailey Glasser team in this case includes founding partner Brian Glasser; David Selby II 🔹 Bailey Glasser 🔹 Partner Mass Tort Practice Group Chair, partner Todd Mathews, Of Counsel Thomas B. Bennett, partner Thanos Basdekis, partner and Consumer Protection Practice Group Leader Patricia Kipnis, and Of Counsel Michael Shenkman. Our co-counsel firms are Beasley Allen Crow Methvin Portis & Miles PC; Levin Papantonio Rafferty Proctor Buchanan O’Brien Barr Mougey PA; Golomb Legal; Ashcraft & Gerel LLP; and Burns Charest LLP.
On behalf of our clients, we have requested that the injunction hearing be heard at the earliest possible time.
For more please visit: https://ow.ly/jvQF50ShsIQ
The Texas two-step: A misunderstood solution to tort litigation
In a recent discussion, Ediberto Roman a professor of law at Florida International University and a national legal scholar, argues that criticisms of the Texas two-step bankruptcy method are largely misplaced. Contrary to claims that it is a tactic to dodge creditors, the Texas two-step aligns with both bankruptcy and corporate laws, providing an equitable solution to handle mass tort litigations like asbestos claims efficiently. This process, established by the Texas corporate law, allows companies to split their assets and liabilities between two entities. The newly formed subsidiary handling liabilities can then file for Chapter 11, transforming tort plaintiffs into creditors. This method not only ensures fair compensation through established trusts but also maintains the financial health of the original company, allowing it to continue operations.
Roman highlights that the Texas two-step is not only a legitimate legal strategy but also one that supports the fundamental principles of federalism by respecting state corporate statutes and integrating them into federal bankruptcy proceedings. The process is bolstered by strong federal statutes like 11 U.S.C. Section 524(g), which was designed to facilitate global settlements for mass tort claims, emphasizing the need for a majority claimant approval and the creation of settlement trusts. In conclusion, the Texas two-step is a sophisticated legal mechanism that, when used responsibly, offers an efficient and fair means to resolve complex litigation issues, reflecting a thoughtful balance between corporate survival and claimant compensation.
https://lnkd.in/d3nKj82f#litigation#accounting#accountancy#bankruptcy
Empowering Justice Through Litigation Financing
In our quest for justice, the financial burden of litigation often stands as a formidable barrier. How can we ensure that every deserving case gets its day in court, regardless of financial muscle?
Litigation financing emerges as a critical solution, offering a lifeline to those caught in this dilemma. It's a strategy I've come to value deeply, recognizing its potential to democratize access to justice. By understanding when and why to leverage litigation finance, we can unlock opportunities for a broader range of clients, ensuring they can take on adversaries on an equal footing.
The landscape of litigation funding is diverse, with commercial and patent litigation at the forefront, yet open to a wide array of cases. This variety underscores the sector's growth and its increasing receptiveness to various legal battles.
The essence of choosing cases for litigation financing lies in their potential for significant returns, but it's important to remember that size isn't everything. Smaller cases and firms are increasingly benefiting from this support, debunking the myth that only the largest firms or cases qualify for funding.
Our role extends beyond financial expertise; we're advocates for a just system where financial barriers do not dictate the pursuit of justice. By embracing litigation financing, we empower ourselves and our clients, enhancing our strategies and resources to champion their causes effectively.
As we navigate these waters, let's remain committed to exploring every avenue that litigation financing offers, ensuring that justice is accessible to all, not just a privileged few.
#JusticeForAll#LitigationFinancing#LegalInnovation#EqualAccessToJustice
Disputes that utilize commercial litigation funding contain the hallmarks of a traditional lawsuit, but they also embody many distinct differences due to the funder/fundee relationship and details of the matter at issue. As a corollary, financially distressed companies represent a growing segment of all fundees in the market, and concerns regarding information sharing, attorney-client privilege, and work product protection abound.
The final installment of our Litigation Funding Series by #MuchPrincipalsJonathan Friedland and Jeremy Waitzman addresses frequently asked questions concerning litigation and important considerations for distressed fundees: https://bit.ly/3IWWFxI
Empowering Justice Through Litigation Financing
In our quest for justice, the financial burden of litigation often stands as a formidable barrier. How can we ensure that every deserving case gets its day in court, regardless of financial muscle?
Litigation financing emerges as a critical solution, offering a lifeline to those caught in this dilemma. It's a strategy I've come to value deeply, recognizing its potential to democratize access to justice. By understanding when and why to leverage litigation finance, we can unlock opportunities for a broader range of clients, ensuring they can take on adversaries on an equal footing.
The landscape of litigation funding is diverse, with commercial and patent litigation at the forefront, yet open to a wide array of cases. This variety underscores the sector's growth and its increasing receptiveness to various legal battles.
The essence of choosing cases for litigation financing lies in their potential for significant returns, but it's important to remember that size isn't everything. Smaller cases and firms are increasingly benefiting from this support, debunking the myth that only the largest firms or cases qualify for funding.
Our role extends beyond financial expertise; we're advocates for a just system where financial barriers do not dictate the pursuit of justice. By embracing litigation financing, we empower ourselves and our clients, enhancing our strategies and resources to champion their causes effectively.
As we navigate these waters, let's remain committed to exploring every avenue that litigation financing offers, ensuring that justice is accessible to all, not just a privileged few.
#JusticeForAll#LitigationFinancing#LegalInnovation#EqualAccessToJustice