Litigation

Courts Should Impose Sanctions on Factoring Company Lawyers Who Are Ill Prepared to Defend "Best Interest" Test

By John Darer

After reading some of the decisions made by judges around the country where a structured settlement factoring transaction was determined to fail "the best interest" test, it is evident that neither the factoring company or their legal counsel was adequately prepared. It is hard to see from some of the published decisions where an adequate amount of due diligence was performed. Surely this is a waste of the Court's time as well as that of the factoring company's client.

If a few lawyers started to get sanctioned perhaps greater scrutiny of the proposed transactions would take place, in advance.

Full post as published by Structured Settlements 4Real on August 18, 2009 (boomark / email).