Financing law firm receivables from Asbestos Settlement Trust claim fees
- Headquartered in Washington DC with a satellite office in New York, Spinnaker Receivables Finance LLC provides working capital to law firms so they can re-deploy resources into growth areas focusing on new business and new case generation.
- We do this by acquiring earned legal fee receivables generated from claims specifically filed with the Asbestos Settlement Trusts. We only purchase the legal fee portion of a claim and not the claimant's portion. All receivables must be fully approved for payment by the Trusts before they become eligible for acquisition by Spinnaker.
- The process for claims payment (first in, first out) creates a delay between the claim approval date and the actual payment date which can be as much as several months or even years. The generating law firm is required to wait until the entire claim is paid to receive its portion of the claim as legal fees. This delay can create a serious cash flow issue.
- We work with a highly rated insurance company as our funding partner to provide institutional committment to our clients.
Get in touch with us to set up a consultation, or use the contact form at the bottom of this page to enquire whether our services are right for you.
1155 F Street NW | Suite 1050
Washington, DC 20004
Use the form below to contact us regarding your receivables financing enquiry. Please be as detailed as possible regarding receivables composition. Include claims characteristics, number of claims, number of patients, number of Settlement Trusts included in the filings, gross face amount, and seasoning details. You may also email or call us to make an appointment.
For job opportunities, please email us your resume. We’re always looking for new and exceptional talent to lead the firm into uncharted fields of practice.