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ARTICLE ID 193085

$________ ARBITRATION AWARD Claims for sums contingently advanced and fees to plaintiff in an underlying personal injury action in Georgia.

U.S.D.C. - District of New Jersey

The underlying case involved a worker who fell 20 feet, suffering severe injuries. During the course of the personal injury litigation, two funding companies, Cambridge Management Group, LLC (“CMG”) and US Claims, advanced funds that would be repayable, with fees, upon settlement of the personal injury action. If that case had been tried to a defense verdict, the money and fees would not have to be repaid. CMG’s contract contained an arbitration clause requiring arbitration in New Jersey while US Claims’ contract did not. The plaintiff funding companies maintained that the when the personal injury matter was settled for $________, they were entitled to payment.

CMG brought this equity action to compel the clause for arbitration that was in the original contracts between the plaintiff and CMG. The plaintiff funding companies also named the worker’s attorney as a defendant. The defendant attorney’s claims included the argument that there was an absence of personal jurisdiction since he never agreed to either litigate or arbitrate the matter in New Jersey. CMG countered that because the worker had agreed to arbitrate in New Jersey, the attorney was subject to jurisdiction and arbitration in New Jersey.

The worker maintained that after satisfying worker’s compensation liens attorney fees and costs, only approximately $________ remained. One of the attorneys for the funding companies advised this publication that during a phone call among the parties and the court, requests for settlement documents of the underlying personal injury matter ultimately resulted in the plaintiffs ascertaining that approximately $________ was available to pay the funding companies. CMG maintained that the arbitration should take place and that although the plaintiffs’ claims involved amounts that were much larger than the amounts originally advanced, the fees imposed were not usurious because of the contingent nature of the advances.****JUDGE?****The court ordered that the arbitration clause be enforced and that New Jersey had jurisdiction. The arbitrator rendered awards which equaled the amounts sought by the plaintiff funding companies.

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