Litigation Financier Can't Recoup Rival's Payout: NJ Court

Law360, New York (May 23, 2013, 7:22 PM EDT) -- A New Jersey appeals court ruled Thursday that a litigation financing company fighting a competitor over the proceeds of a hospital lawsuit can't recover the competitor's reimbursement because the competitor funded an attorney in the case, and not the litigation.

The Appellate Division of New Jersey Superior Court upheld a trial court's ruling that Legal Asset Funding LLC can't recover proceeds that Plaintiff Funding Corp., which does business as Law Cash, received from a suit Legal Asset Funding funded because Law Cash gave a personal loan...
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