{"id":22967,"date":"2014-11-27T10:44:29","date_gmt":"2014-11-27T15:44:29","guid":{"rendered":"http:\/\/sidebarforplaintiffs.naomifein.net\/?p=22967"},"modified":"2014-11-27T10:44:29","modified_gmt":"2014-11-27T15:44:29","slug":"divorce-lawsuits-of-the-filthy-rich-a-new-complication","status":"publish","type":"post","link":"https:\/\/sidebarforplaintiffs.naomifein.net\/?p=22967","title":{"rendered":"Divorce lawsuits of the filthy rich: a new complication"},"content":{"rendered":"

It’s Thanksgiving, so when I read this in yesterday’s New York Times (Steven Cohen’s Ex-Wife Gets Outside Financing for Lawsuit – NYTimes.com<\/a>.) I thought, “Thank you, Patricia Cohen, for news about another luxurious, bitter divorce.”<\/p>\n

But it’s more than that. Because take a look at that headline. “Outside financing?” What is this?<\/p>\n

It’s the rich person’s version of usurious loans to plaintiffs<\/a>. About which I have written <\/a>with admitted hostility a number of times.<\/a><\/p>\n

But when a plaintiff has fairly realistic expectations of an enormous settlement (against a rich ex-husband, in this case), those loan companies are not called usurers. They are called “litigation financiers.”<\/p>\n

The one “backing” (that’s not my word; it’s the Times’s) Patricia Cohen is called Balance Point Divorce Funding \u2212 a surprisingly non-euphemistic name.<\/p>\n

I’m thinking that big mutual fund companies could start funds that invest in rich people’s divorces. Or am I being way too derivative here?<\/p>\n

Wow.<\/p>\n","protected":false},"excerpt":{"rendered":"

It’s Thanksgiving, so when I read this in yesterday’s New York Times (Steven Cohen’s Ex-Wife Gets Outside Financing for Lawsuit – NYTimes.com.) I thought, “Thank you, Patricia Cohen, for news about another luxurious, bitter divorce.” But it’s more than that. … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[727],"tags":[615],"class_list":["post-22967","post","type-post","status-publish","format-standard","hentry","category-lawsuits-of-the-filthy-rich-2","tag-divorce-lawsuits"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t