Click here to close now.




















Welcome!

News Feed Item

Law Finance Group Announces The Avalability Of Funding On Chinese Drywall Settlements

SAN FRANCISCO, Feb. 11, 2014 /PRNewswire/ -- Nearly a year after the first Toxic Chinese Drywall Settlements were approved against Knauf Plasterboard Tianjin, Interior Building Supply, Banner Supply Co., L&W Supply and others, half the Registered Affected Properties still have not had their claims processed.  Law Finance Group ("LFG") announced they are ready to help plaintiff attorneys who have worked hard for these Settlements by creating a Chinese Drywall Funding Facility to help continue the fight through the delays with a flexible funding facility.

Chinese Drywall was imported into the U.S. due to a shortage in American made drywall products during the real estate boom between 2004 and 2006. The imported Chinese Drywall was found to be defective and toxic, and required replacement. Five of the class action Settlements, worth more than $1B, involving hundreds of distributors, builders and insurers to compensate homeowners was approved by Federal Judge Eldon E. Fallon in June 2009. On February 8, 2013 Judge Fallon certified the five class action settlements which will benefit more than 10,000 property owners. The payoff for attorneys working the cases is long overdue as the work by the settlement administrator Brown Greer continues. "Sometimes the endgame can take a long time. Whether the attorney is expecting common benefit fees and/or representing clients, four years is a long time to wait for a paycheck," says Alan Zimmerman, Founder and CEO of LFG.

The approved Settlements call for companies who manufactured Chinese Drywall to pay hundreds of millions of dollars to repair damaged homes, but defendants who did not settle are being held up at the Fifth Circuit through on-going legal maneuvers by defendant Taishan Gypsum Co., Ltd., who sold more than $8.5M worth of its drywall to the U.S. "The process must be frustrating for attorneys who have filed claims but also have other opportunities that need funding," says Ajit Singh, a funding attorney with LFG. "A spreadsheet comparing the remediation numbers using Xactimate software and final bid prices provides a pretty strong indication of how an attorney's portfolio of fees is going to resolve, but not too many outfits are willing to lend significant money against it . . . we can."

LFG is currently celebrating its 20th year of successfully providing funding to attorneys and plaintiffs since 1994. The Chinese Drywall Funding Facility is the latest solution by LFG to aid attorneys navigating the imperfect justice system and to provide innovative capital solutions to help firms grow. Interested lawyers should contact an LFG Funding Attorney to talk about their portfolio of Chinese Drywall claims.

About Law Finance Group, LLC
LFG is a lawyer founded and managed licensed finance company. It has been providing on-demand law-related capital to lawyers and their plaintiff's since 1994, successfully advancing more than $300M in thousands of cases. LFG advances funds in class action cases, judgments on appeal, cases on remand and complex settlements.

For more information on how LFG can help you, please contact Ken Baritz: (O) 800-572-1986, (C) 561-212-1740, email: [email protected].

SOURCE Law Finance Group, LLC

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
"We've just seen a huge influx of new partners coming into our ecosystem, and partners building unique offerings on top of our API set," explained Seth Bostock, Chief Executive Officer at IndependenceIT, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Learn how you can use the CoSN SEND II Decision Tree for Education Technology to make sure that your K–12 technology initiatives create a more engaging learning experience that empowers students, teachers, and administrators alike.
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, provided some practical insights on what, how and why when implementing "software-defined" in the datacent...
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his session at 17th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Partnerships at Com...
SYS-CON Events announced today that VividCortex, the monitoring solution for the modern data system, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The database is the heart of most applications, but it’s also the part that’s hardest to scale, monitor, and optimize even as it’s growing 50% year over year. VividCortex is the first unified suite of database monitoring tools specifically desi...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
Digital Transformation is the ultimate goal of cloud computing and related initiatives. The phrase is certainly not a precise one, and as subject to hand-waving and distortion as any high-falutin' terminology in the world of information technology. Yet it is an excellent choice of words to describe what enterprise IT—and by extension, organizations in general—should be working to achieve. Digital Transformation means: handling all the data types being found and created in the organizat...
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...