LOS ANGELES, Dec. 2, 2014 /PRNewswire/ -- Legal-Bay LLC, The Lawsuit Settlement Funding Company, announced today that they will be putting a major focus on funding commercial litigation cases in 2015, including Judgment on appeal and verdict on appeal type cases, as well many other cases such as whistle blower or qui tam suits. The company believes that funding on verdict on appeal cases for plaintiffs is more than just a prudent decision, but the only decision. The company outlines the reasons why a plaintiff and their attorney should advocate for a cash advance until the appellate process is played out.
Legal-Bay has funded both plaintiffs and attorneys who need attorney funding to prosecute a large appeal. The company outlines the progression of what typically happens in these type of cases, and why their verdict on appeal litigation funding makes sense. First, when a commercial or large personal injury case goes to trial, the potential for the plaintiff losing the trial is a real possibility, and it's also why the defendant is confident going to court. However, the flip side is that if the plaintiff is successful in front of a jury or judge (bench trial), the potential for a huge award is possible. What Legal-Bay typically funds are cases that went to trial where a large award, unexpectedly, was given. This is typically a windfall for the plaintiff and the law firm, but new obstacles then occur – most notably appeals.
In these cases, the defendant is usually a deep pocket insurance company or large corporation, who is undoubtedly stung by the loss and is "hell bent" on appealing. Although the verdict is great for the plaintiff and the lawyer too, in some cases the plaintiff and the lawyer are mentally and financially drained and then they have to deal with post-trial motions and a whole new set of appellate briefs that could drag on for years. What is even more concerning is that the defendant may have strong grounds for the verdict to be set aside, reduced in size, dismissed, or remanded back to trial court. Any of these alternatives is bad for the plaintiff and could end up leaving the plaintiff either with nothing or the necessity to go back to trial.
However, Legal-Bay's non-recourse cash advance funding on verdict on appeal cases guarantees that the plaintiff will receive something for their win in trial court. What is even better is that the defendant is compelled to put up a large surety bond to match the verdict amount if they intend to appeal; this guarantees that the money will be available if they lose the appeal regardless if the defendant company or person goes insolvent or bankrupt. Even better, the court requires that the defendant pays interest on the money that they are withholding for the plaintiff. The fact that the lawsuit award can grow in size with interest accruing is great for the plaintiff if ultimately successful.
Legal-Bay believes that it only makes smart business sense to cash in on something on a large verdict on appeal case, as the lawsuit funding is similar to an insurance policy in which the plaintiff will receive something. And the costs associated with doing a cash advance on a verdict or judgment on appeal case may be expensive, but keep in mind the money is at no risk, meaning if the appeal is successful the plaintiff keeps the non-recourse cash advance. More importantly, the interest that the defendant is paying to appeal is income used to offset any usage fees that the lawsuit advance costs.
Chris Janish, CEO of Legal-Bay, commented on the company's focus on Judgment and verdict on appeal cases, "We believe that for both attorneys and their clients that the data is clear that taking a cash advance on a large judgment or verdict on appeal is a great hedge, in case of a major court reversal and complete wipeout of the entire award. Our program enables the plaintiff a guarantee non-recourse funding event, meaning if we fund a plaintiff for $250K and the appeal is won by the defendant, then no money needs to be paid back. Although the cost for this security may be expensive, in most cases the interest earned from the defendant for being allowed to appeal can greatly offset the usage costs of the lawsuit funding. We believe this is a win-win situation for the plaintiff and attorney as well. We have seen a high percentage of large verdict on appeal awards wiped away by appellate courts, leaving plaintiffs and their attorneys with nothing to show for their efforts. A lawsuit cash advance on a verdict or judgment on appeal guarantees that this could never happen."
To learn more about Commercial Litigation Cases, visit: http://www.lawsuitssettlementfunding.com/commercial-lawsuit-funding.php
The company has now secured additional funding capital for other types of commercial litigation cases including, but not limited to:
Judgment on Appeal or Verdict on Appeal cases, Qui Tam or Whistle Blower Cases, Breach of Contract cases, Security Fraud or Stock Arbitration Cases, Patent or Copyright Infringement, Intellectual Property Disputes, Anti-Trust Lawsuits, Large Wrongful Termination cases, Legal Malpractice Disputes, Franchise Protection Cases, Real Estate Disputes, Banking Dispute Cases, Royalty Payment Disputes, Estate or Trust Disputes, Construction Disputes, and Environmental Disputes.
All of Legal-Bay's programs are non-recourse lawsuit cash advances, also known as case funding. None of the programs should be considered to be a lawsuit loan, lawsuit loans, pre-settlement loans or a pre-settlement loan. To learn more about how Legal Bay's funding process works on Commercial Litigations, visit: http://lawsuitssettlementfunding.com/funding-process.php
If you, or a loved one, are involved in a commercial litigation case and are in need of a cash advance prior to settling your case, feel free to contact Legal-Bay directly to obtain a free quote on the company's 24-hour hotline at: 877.571.0405 where live agents are available to assist you and answer any questions you may have. You may also fill out an online application to receive a free evaluation on your case at: http://lawsuitssettlementfunding.com
Contact: Patty Kirby, COO/Head of Client Relations
Ph. 877.571.0405 Email: firstname.lastname@example.org
SOURCE Legal-Bay LLC