If your lawsuit resulted in a favorable verdict, but you are still awaiting distribution of your award, contact LawCapital today. LawCapital is here to provide access to funds you urgently need while you await the disbursement of your award.
After a lawsuit verdict, the plaintiff does not necessarily get paid immediately. In fact, it can take weeks, months, or years for payment to arrive. If the defendant appeals the court’s decision, delay in payment is inevitable. It is this delay that provides a need for LawCapital’s service.
Sometimes a small advance immediately can help bridge the financial gap until your verdict payment arrives.
In late-2000 and early 2001, Auerbach Acquisition Associates, Inc., entered into two contracts with creditcards.com (later known as iPayment, Inc.). When Auerbach attempted to exercise the contracted option to buy a 57% share of creditcards.com, Greg Daily, Chairman and CEO of iPayment, Inc., interfered with the closing of that sale. Douglas Shooker, sole officer and director of Auerbach, then filed a lawsuit against Daily in 2002.
Seven years later, on May 11, 2009, after seven months of trial, a California jury handed down a $300 million verdict plus potential punitive damages against Greg Daily. However, the lawsuit named Greg Daily personally as defendant, not iPayment, Inc.
Daily responded to the verdict by filing for Chapter 11 bankruptcy, and Shooker will not see the punitive hearing phase of his lawsuit move forward anytime soon, if at all.
If you are experiencing financial hardship while waiting for payment of a verdict, LawCapital may be able to bridge the financial gap. Whether your funding needs result from an inability to work, or excessive bills generated from the lawsuit process, LawCapital may be able to relieve some of the stress from mounting bills.