Litigation Funder Wants Cut Of $350M Shire Deal

Law360 (February 4, 2021, 4:55 PM EST) -- Law firm lender Counsel Financial Services asked a Florida federal judge Wednesday for permission to intervene in a dispute over divvying up attorney fees from a $350 million whistleblower settlement with biotech company Shire, alleging the law firm Barry A. Cohen PA should be forced to direct any fees it receives to pay back a $43.8 million line of credit.

Counsel Financial says it loaned money to the Cohen firm in February 2009 in exchange for a secured interest in the firm's assets, which includes legal fee proceeds. In January 2019, the company obtained a $43,778,684 judgment against the Cohen firm,...

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