A litigation funding company may move forward with a lawsuit against Parker Waichman Alonso, a personal injury law firm, over monies the company says it is owed from a 2007 settlement. Justice Joseph Maltese of the Supreme Court of New York, Richmond County denied the law firm’s motion to dismiss a suit by PS Finance LLC.
PS Finance had lent $34,750 to Timothy Farmer, a client of Parker Waichman, while the suit was pending in Queens County Supreme Court. When the suit settled in 2007 for $192,000, Farmer asked that the settlement be broken down with $92,000 going to his current wife, Ruth Ann Farmer, who was not a signatory to PS Finance’s funding agreements but was a plaintiff in the case. After deducting attorney fees and a child support lien, PS Finance received $30,440 from Mr. Farmer’s share of the award, which was not deposited.
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