NFL Concussion Case Funding UPDATE

Appeal of Ban on Assignment of Claims in NFL  Concussion Case

RD Legal of  Cresskill, New Jersey has appealed the decision of a federal judge banning any third party from entering into agreements with former players of the National Football League who are seeking recovery from the $1 billion concussion-related settlement. The notice of appeal is over U.S. District Judge Anita Brody of the Eastern District of Pennsylvania entered in early December that forbid lenders from entering into loan agreements that required ex-players to assign over their monetary claims.

According to Brody, all contracts attempting to assign the claims are “void, invalid and of no force and effect.” She said class members should return the money paid to them under the principle of rescission, or the funders could execute a waiver relinquishing the assignments and then the settlement claims administrator would withhold the amount from the class member’s monetary award. “The anti-assignment language in the settlement agreement clearly states the intent that class members are unable to make assignments,” Brody said. “Thus, the court has little sympathy for a third-party funder that will not receive a return on its investment.”

According to a November 10th 2017 article in the Washington Post the NFL estimated that it expects 665 settlement claims to be paid in the first year and in the end will cost the league more than $1 billion. At the time the article was written, roughly 140 notices of monetary awards had been issued for some $195 million. Of that $100 million had been distributed.