A company that loaned $500,000 to a former professional football player eligible for compensation under the $1 billion concussion settlement may not arbitrate a dispute over their funding agreement, a federal judge has ruled in an effort to further last year’s decision invalidating all similar loans between players and funding companies.
U.S. District Judge Anita Brody of the Eastern District of Pennsylvania on Tuesday ruled that Thrivest Specialty Funding was enjoined from arbitrating the validity and terms of the agreement it entered into with former Atlanta Falcons player William White. The decision was made, according to Brody, “in order to effectuate” the settlement agreement, which she last year interpreted as barring similar agreements that “assigned” a player’s claims in exchange for money.
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