» Subscribe Today!
The Power of Information
Home
The Ledger - EST. 1978 - Nashville Edition
X

Forgot your password?
Skip Navigation LinksHome > Article
VOL. 38 | NO. 26 | Friday, June 27, 2014

Lawsuit financing company to leave Tennessee

Print | Front Page | Email this story

NASHVILLE (AP) - A new Tennessee law targeting the practice of financing the costs of lawsuits is leading an Illinois company to leave the state.

Oasis Legal Finance, one of the country's largest consumer legal funding services, announced it is leaving the Tennessee market as the law goes into effect Tuesday.

The bill sponsored by Sen. Jack Johnson of Franklin and fellow Republican Curtis Jonson of Clarksville was signed into law by Gov. Bill Haslam in April. The Senate bill passed 27-2, while the House approved its version 52-36 - just two votes more than minimum needed to clear the chamber.

The funding is issued to consumers while they await a settlement in their cases. Oasis CEO Ralph Shayne said the law represents a victory for the insurance industry over consumers seeking fair settlements.

Follow us on Facebook, Twitter & RSS:
Sign-Up For Our FREE email edition
Get the news first with our free weekly email
Name
Email  
TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0