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
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessio...
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, access 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 general session at 18th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Part...
Andi Mann, Chief Technology Advocate at Splunk, is an accomplished digital business executive with extensive global expertise as a strategist, technologist, innovator, marketer, and communicator. For over 30 years across five continents, he has built success with Fortune 500 corporations, vendors, governments, and as a leading research analyst and consultant.
To Really Work for Enterprises, MultiCloud Adoption Requires Far Better and Inclusive Cloud Monitoring and Cost Management … But How? Overwhelmingly, even as enterprises have adopted cloud computing and are expanding to multi-cloud computing, IT leaders remain concerned about how to monitor, manage and control costs across hybrid and multi-cloud deployments. It’s clear that traditional IT monitoring and management approaches, designed after all for on-premises data centers, are falling short in ...
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
It is ironic, but perhaps not unexpected, that many organizations who want the benefits of using an Agile approach to deliver software use a waterfall approach to adopting Agile practices: they form plans, they set milestones, and they measure progress by how many teams they have engaged. Old habits die hard, but like most waterfall software projects, most waterfall-style Agile adoption efforts fail to produce the results desired. The problem is that to get the results they want, they have to ch...
For far too long technology teams have lived in siloes. Not only physical siloes, but cultural siloes pushed by competing objectives. This includes informational siloes where business users require one set of data and tech teams require different data. DevOps intends to bridge these gaps to make tech driven operations more aligned and efficient.
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
"Venafi has a platform that allows you to manage, centralize and automate the complete life cycle of keys and certificates within the organization," explained Gina Osmond, Sr. Field Marketing Manager at Venafi, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"We're focused on how to get some of the attributes that you would expect from an Amazon, Azure, Google, and doing that on-prem. We believe today that you can actually get those types of things done with certain architectures available in the market today," explained Steve Conner, VP of Sales at Cloudistics, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
DXWorldEXPO LLC announced today that the upcoming DXWorldEXPO | CloudEXPO New York event will feature 10 companies from Poland to participate at the "Poland Digital Transformation Pavilion" on November 12-13, 2018.
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service.
Digital Transformation is much more than a buzzword. The radical shift to digital mechanisms for almost every process is evident across all industries and verticals. This is often especially true in financial services, where the legacy environment is many times unable to keep up with the rapidly shifting demands of the consumer. The constant pressure to provide complete, omnichannel delivery of customer-facing solutions to meet both regulatory and customer demands is putting enormous pressure on...
The best way to leverage your CloudEXPO | DXWorldEXPO presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering CloudEXPO | DXWorldEXPO will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at CloudEXPO. Product announcements during our show provide your company with the most reach through our targeted audienc...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors!