"In so far as the agreements allowed the companies to collect funds from class members only after they’d received funds from the claims administrator, the panel reversed Judge Brody’s order in one appeal involving RD Legal Funding."
Curious statement from Seeger, in that he seems pleased that funders cannot seek to collect from the NFL, while they can seek to collect from class members after awards are paid. It does appear, however, that he plans to continue to drain the common benefit despite the 3CA ruling
More on the funders' ruling from @MMitchellTLI
law.com/thelegalintell…
Attorneys for the funders indicate they are pleased with the Third Circuit ruling.
Despite the fact 3CA ruled that the court had no jurisdiction over awards after players are paid, Seeger also, oddly, claims victory.
Seeger claims that he's "looked at enough of these to know," which is likely true since he served on the BOD of litigation funder Esquire Bank, whose loans were exempted from Judge Brody's ruling despite having near identical assignment language as other funders.
In fact, on February 13, 2015, the day Seeger filed the settlement, he contacted attorney Craig Mitnick, asking for his help in setting up a funding program for retired players.
Note the assignment provisions on an Esquire advance.
You can see that Esquire's provisions above, are nearly identical with those of Thrivest, below (& other lenders). It's also noteworthy that attorneys are ordered to disburse funds to the lender after an award is made, therefore avoiding the claims admin and reach of the court
From the Locks Motion for Reconsideration dated 5/1/18. This determination (image 2) has yet to be sufficiently explained.
Simultaneous with the big win for lenders, the war against #NFL Concussion Settlement claims continues, as attorneys seek to roll back NFL friendly changes to the settlement recently ordered by Judge Brody. law360.com/sports-and-bet…
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