Tag: Litfunding

No Decision on Southern Holdings Money

Despite stating he would issue a ruling last week, Judge Doyet A. Early remained silent on the disposition of litigation and settlement money in the Southern Holdings case.

The case before Judge Early is an interpleader action asking the court to rule on who has claim to the remaining Southern Holdings litigation and settlement funds and how much should go to each claimant.

The interpleader case was brought by attorney and Lexington Magistrate John Rakowsky who represented seven individual plaintiffs in the original Southern Holdings case. Rakowsky stated he didn’t know who had claims to the remaining litigation and settlement money he held.

There are problems with issuing a decision in the interpleader case.

Judge to Look At Southern Holdings Missing Money

A S.C. District Court judge has put off further hearings for three months with respect to remaining litigation funds from the Southern Holdings case while he considers various motions that have been ignored since 2008.

One of those motions regards the missing approximately $60,000 that was never included in an accounting provided to the court by attorneys John Rakowsky and Adrian Falgione. Rakowsky’s trust fund was allegedly used for the accounting.

According to information provided to the court, LawMax, Litfunding and Resolution Settlement Corporation advanced at least $125,000 to Southern Holdings plaintiffs’ attorneys Rakowsky and Falgione to be used for funding expenses, not including lawyer’s fees, associated with the case.