The Life Settlements Report - July 19, 2007

Life Settlement Company Is Second in Three Months to Be Banned from State

For the second time in three months, Florida regulators have ordered a life settlement company to quit doing business in the state. Full Story

A lobbying group representing state legislators voted July 18 against recommending a five-year waiting period before life insurance policies can be settled. The vote was a victory for the life settlement industry in the contentious debate over how its market should be governed. Full Story

Ritchie Plans To Amend and Re-file Suit Against Former Partner

A U.S. District Court judge threw out Ritchie Capital Management’s lawsuit against Coventry First, handing the beleaguered provider some of its first good news in a long time. Full Story

Positioning for Life Settlement Business?

With the recent entry of Atlanta-based Habersham Funding into California as a licensed provider of viatical settlements the state now has eight licensed viatical providers. However, less than half of the licensees are active in purchasing viaticals, leaving some to suggest that companies like Habersham are using viatical licensing to position their companies to benefit from any grandfathering of viaticals providers under future life settlement licensing regulations many consider inevitable. Full Story

• More Defendants Plead Guilty in $826M MBC Scandal
• New York Provider Announces Sale of Big Portfolio
• Philadelphia Provider Announces Program for Small Policies
• NCOIL Picks New Director of State-Federal Relations