According to news reports, a notification program was announced to inform plaintiffs of how the new claims process will work, including how payments will be calculated. The settlement was revised from its 2008 version. Plaintiffs alleged levees and other flood prevention structures did not work and were not properly maintained.
Hurricane Rita and Hurricane Katrina caused a tremendous amount of damage to the Gulf coast, especially in states like Louisiana and Texas. The cost of both storms was estimated to be over $100 billion with Katrina causing the most damage. For plaintiff’s attorneys involved in this litigation, it can take a long time to receive your hard-earned fees, even after a settlement has been reached. RD Legal Funding, LLC (“RD Legal”) is ready to help bridge the gap between time of settlement and case payout to help plaintiff’s attorneys better manage their cash flow. RD Legal is one of the nation’s leading providers of lawsuit funding to attorneys.
Hurricane Rita Coverage:
Hurricane Katrina Coverage:
During the aftermath of Hurricane Katrina, it became clear that the measures implemented to prevent flooding failed. The combination of a huge storm, defunded projects, and poorly maintained infrastructure devastated the Gulf Coast region. Hurricane Rita followed a month later adding even more devastation.
The damage from both storms was immense and caused many people to evacuate their homes. A class action lawsuit was filed against several districts in Louisiana and their insurance company. The suit was partially settled for about $20 million. According to the website established for plaintiffs seeking a claim, there are three settlement funds established with over $20 million as of November 2012. Approval of the settlement will be determined in September of 2013 by the United States District Court for the Eastern District of Louisiana.
RD Legal can provide plaintiff’s attorneys with Hurricane Rita and Hurricane Katrina settlements with interim post-settlement funding, which provides immediate capital on settlements. Legal funding does not require any kind of payments until the fee is paid; there are no monthly interest or principal payments, no upfront points or fees. Once the necessary documentation is received, RD Legal can wire funds within several days. RD Legal provides personalized service and quick turnaround.
For more information about Fee Acceleration, please call Joseph Genovesi at 1-800-565-5177, ext. 140.