Fatal Helicopter Crash Settles for $5.6 Million
May 9th, 2011 by Rosanne Lim. No Comments »
Back in August 2008, Sandra Pearson, 38, suffered a tragic fate due to a faulty rotor blade in the helicopter she was riding. The main rotor blade broke apart which then caused the helicopter to strike power lines before bursting into flames. The family of Ms. Pearson filed a lawsuit alleging that defects in the helicopter part were created during its manufacture by Bell Helicopter Textron, Inc.
The plaintiff’s lawyers claimed that when the helicopter was examined 10 days before, vibration and a low rumble was felt from the rear of the aircraft. They allege that the centrifugal force variation during the aircraft’s start/stop cycles caused a fatigued crack on the blade, ultimately leading to the crash. The helicopter company offered to pay $5.6 million to the family of the victim who has agreed to the settlement.
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How Jurors are Selected for a Personal Injury Case
April 30th, 2011 by Rosanne Lim. No Comments »
In New York, a trial date for a personal injury lawsuit is finally set after around one to four years from the date of filing. Attorneys and clients who painstakingly prepare for the trial sometimes overlook that six strangers to the plaintiff and defendant will decide the outcome of the litigation. These people, who most probably never wanted anything that concerns the personal injury case, will postpone their lives for days or weeks to be in a courtroom jury box, unwillingly listen and give a judgment.
They are the jurors, and they will be randomly picked from the states’ list of registered voters, utility subscribers, licensed drivers, motor vehicle owners, state and local taxpayers, family and medical assistance applicants and recipients, and unemployment benefits recipients. In 1995, a statute was passed to exempt clergies, teachers, doctors, lawyers and other professionals from jury service. However, today, they are no longer exempted from being jurors. The changed is based on the “everybody serves” policy and has prompted more traditional jury pools. According to many plaintiffs and their attorneys, the conservative jury system arises more verdicts that are more favorable to defenses and less generous to plaintiffs.
It is the county personnel who send out notices requiring the presence of potential jurors at a courthouse. There, they will be provided with introductory personal questionnaire, lectures and materials. They will undergo the voir dire process where they will be questioned by the lawyers (maybe with a judge) in groups of 20 to 30. The process starts with general questions that will discover if any member of the group is familiar with the case, parties, lawyers and witness. If yes, they can be excused “for cause”.
The narrowed list of potential jurors is then asked probing, meddling, sensitive and occasional uncomfortable questions. The questions aim to discover if they have any prejudices towards personal injury lawsuits and corresponding award for damages. Participants who will feel too uncomfortable can even be excused to be questioned privately. For lawyers, it means seeking for jurors who will most likely render favorable judgments for their clients.
With the judge’s approval and with a “cause”, there are no limits to the number of potential jurors that lawyers may excuse or dismiss. The attorneys can then cautiously make use of the “peremptory challenges” to dismiss anyone who might oppose his client. Finally, the six jurors who were left not excused nor dismissed will compose the jury.
Judge-Directed Negotiations in Medical Malpractice Lawsuits
April 16th, 2011 by Rosanne Lim. No Comments »
It can’t be denied that the amounts awarded in some personal injury lawsuit claims are simply outrageous. For this reason, there have been a lot of debates as to which strategy will yield the best benefits for both sides. Many have given suggestions on how to discourage lawsuits and lower medical costs. A number of states have also placed limits on the amount of money that can be awarded for medical malpractice claims on pain and suffering.
But if there are a number of plaintiffs who get millions from the lawsuit, there are also victims who receive minimal compensation for catastrophic injuries. Hospitals and many other medical institutions usually try to cover up their errors to protect the doctors and their reputation. Another problem is that everyone shoulders the cost because of the fear of these lawsuits. Take note that doctors are now practicing defensive medicine – this basically means that they order comprehensive tests that are often unnecessary to protect themselves against possible liability. Everyone has to pay the cost.
One judge has thought of a different way to deal with medical malpractice lawsuits. Judge McKeon designed a system that judges can follow to assist both parties in reaching an out-of-court settlement. The judge has studied the human anatomy and he used his knowledge to create the curriculum for judges (for when they’re handing complicated lawsuits).
As a result of his work, the Obama administration gave 20 federal grants to state health departments, hospitals, and doctors to encourage them to accept mistakes and provide for the early resolution of injury claims. The hospitals will have to establish early disclosure programs – these can potentially save them millions of dollars. Judge McKeon’s ideas are estimated to have saved hospitals in New York $50 million a year.
Important Questions in Choosing a Lawsuit Funding Company
January 10th, 2011 by Rosanne Lim. No Comments »
When people hear the term “lawsuit funding”, they immediately think of it as a loan. But while it may be commonly referred to as such, its characteristics share similarities with venture capitals and investments. The purpose of that characterization is to avoid laws against charging high interest.
Take note that because this advance is non-recourse in nature (that is, the lawsuit funding company can only get repayments if the plaintiff’s settlement covers the amount), the risk involved are also high. If you want a true loan as opposed to pre-settlement funding, it is important to make that distinction clear to the financing firm you contact. However, you are likelier to get this type of financing from traditional lenders based on your income and assets.
Repayment Terms
If you decide to go ahead with lawsuit funding, you’re expected to pay the financing company out of the ultimate settlement or verdict. Due to the nature of its structure, the company cannot make any claim above the plaintiff’s share of the settlement or verdict.
However, different companies will over varying interest and terms. It is important to be clear, from the very start, what those fees are and how they will be calculated. Most funding will fall under the following:
- Flat Fee – in this set-up, the financing firm and the plaintiff agree from the very start how much will be repaid upon settlement or verdict.
- Recurring Fee – there are lawsuit funding firms that charge recurring firms, usually on a per monthly basis, based on the amount that was advanced. In some instances, the fee can go as high as 15% a month.
Don’t hesitate to ask the funding company if they offer more than a one option. If you expect a lawsuit to settle quickly, a lawsuit loan with a recurring fee may be better. On the other hand, if you expect the litigation to be protracted, it may be more beneficial to ask to choose funding on a flat fee basis. Aside from asking one funding company, try to compare offers to determine which company would best suit your needs.
Once you have contacted several companies, you may wish to ask a firm (that you prefer) whether they can offer you a better package. In many cases, the financing company will be more than willing to beat competitor offers to get you as a client. Your lawyer can also provide appropriate advice on the best package.
History of Structured Settlement
December 17th, 2010 by Rosanne Lim. No Comments »
Traditionally, people who receive personal injury compensation received lump-sum payments. This compensation is considered tax-free by the Internal Revenue Service (if invested in municipal bonds). It was only in the middle of the 1970s that a new type of settlement was introduced. The Internal Revenue Code enabled defendants to purchase one or more annuities to fund the obligation to the plaintiff, who will receive periodic payments. This became known as structured settlement.
Initially, the concept was only used for catastrophic injury cases. A lot of structured settlements include medical expenses, lawyer fees, and existing liens from the injury. The defendant can only purchase annuities from highly rated life insurance company (which, in turn, will make the payment to the plaintiff).
The payments can be made at varying lengths of time; some continue throughout a person’s lifetime. If the recipient of the periodic payment dies before the covered period expires, then his/her estate may become the beneficiary. Structured settlement comes in many forms today but this option is still open.
Ever since this structure has been introduced in the seventies, it only became more popular. Its use today is widespread throughout the United States. This option is also considered in virtually all large personal injury cases involving worker compensation, defective product complaints, and medical malpractice among others. Structured settlement is now being used to environmental, properly loss, and many other types of cases. It is a win/win solution for both parties.
At Solid Funding, we provide attractive structured settlement terms that is highly beneficial for all parties concerned. Our company is trusted brand in the industry because we are upfront with the contract. There are no hidden fees or unnecessary charges. So if you want affordable and efficient service, look no further than Solid Funding for your structured settlement requirements.
More Organizations You Can Approach For Help
December 11th, 2010 by Fairlane Raymundo. No Comments »
Here are more organizations that tort victims, medical practitioners, brokers and others can approach for free advice, training and even help on policy change in relation to their rights on medical and legal assistance.
The American Spinal Injury Association takes care of individuals with spinal cord injury. Their activities include promotion and establishing of health care standards, education of healthcare professionals, patients and their families as well as the public on all aspects of spinal cord injury and its consequences, to research how to prevent spinal cord injury, improve care, reduce consequent disability, and find a cure for both acute and chronic SCI, and facilitation of communication between members and other physicians.
The Library of Congress is the most comprehensive source of US law, cases, books, maps and manuscripts. It is the nation’s oldest federal cultural institution and serves as the research arm of Congress. They make these resources available and useful to the Congress and the American people and sustain and preserve a universal collection of knowledge and creativity for future generations.
The American Association for Justice (AAJ) promotes a fair and effective justice system by supporting the work of attorneys in their efforts to ensure that any person who is injured by the misconduct or negligence of others can obtain justice in America’s courtrooms, even when taking on the most powerful interests. AAJ is the world’s largest trial bar. With more than 56,000 members worldwide, and a network of U.S. and Canadian affiliates involved in diverse areas of trial advocacy, AAJ provides lawyers with the information and professional assistance needed to serve clients successfully and protect the democratic values inherent in the civil justice system.
The Life Expectancy is a research group that specializes in life expectancy calculations based on standard actuarial and biostatistical procedures. They apply these scientific methods to data on children born with cerebral palsy (CP), persons in the vegetative state (VS), and to those who have suffered spinal cord (SCI) or traumatic brain (TBI) injuries. They have published extensively on life expectancy, and consulted on life expectancy in Canada, England, Australia and the United States.
The Toxic Mold Website is a comprehensive guide to many aspects of mold and the potentially fatal dangers that it poses to infants and individuals with weak immune systems. In addition, they provide important legal rights and information for those who have been adversely affected by Toxic Mold in their home, workplace, and elsewhere. Their site also provides toxic mold litigation information for those who have been adversely affected by symptoms of Toxic Mold and exposure in their home, workplace, and elsewhere.
The History of Structured Settlement Factoring Transactions
August 23rd, 2010 by Darryl Woodson. 2 Comments »
Structured settlements for personal injury cases became popular in the 1980’s, after the U.S. Tax code was modified to provide favorable tax treatment to insurance companies offering periodic payments rather than a lump sum payment. The tax modification also benefited people receiving structured settlements in 2 ways: 1) It provided a guaranteed source of periodic income and 2) provided that the interest earned on a structured settlement was tax free. If an individual took a lump sum on a settlement, taxes are incurred on interest earned.
In a structured settlement, the recipient receives periodic payments over a number of years, often 10 years or more. To fund these payments, the insurer purchases an annuity at a highly discounted rate. This is because the annuity will earn interest over the repayment period. Therefore, the insurer ended up paying less for the settlement, received tax advantages, and the recipient wasn’t taxed on the payments made.
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The History of Structured Settlements
August 23rd, 2010 by Darryl Woodson. 1 Comment »
In today’s world, there are many individuals who have received structured settlements. These often come as the result of a lawsuit victory in a court case against a company or person who has done the recipient physical and personal harm. Structured settlements have an interesting history going back almost forty years.
The definition of a structured settlement is an agreement that is negotiated through a tort action in order to yield payments over a given amount of time. These structured settlements commonly result from a court case process in which the one person was injured and the other party was mandated to pay them. These could result from worker’s compensation because of on the job injuries, personal injury, wrongful employee termination, property loss, or a wrongful death claim in which spouses and minor children are looking to obtain lost wage compensation and intangible support.
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