In addition to our recovery services, we also offer the option to sell your class action claim outright. To date we have purchased nearly $40 million in claims, benefitting our large corporate clients. We can purchase a wide variety of claim rights including those to cases not yet settled, monies owed from other types of common fund pools, and groups of rights from companies that are distressed or in liquidation.
Reasons to sell a claim
Companies choose to sell their claims for these reasons:
- Receive immediate payment – Even settled cases can take many years to pay out; sell your claim and receive payment in as little as a week.
- Transfer the recovery risk to Spectrum – If the value of your claim is reduced, if the claim is rejected or even if the underlying settlement is overturned, you keep the payment.
- Manage profitability – Instead of being paid at an unknown future date, or over a series of payments, control which quarter reflects payment.
- Simplify the process – By selling your claim you control how much time your firm has to focus on the project.
Claim selling process
Spectrum uses a simple three-step process for buying claims:
- We analyze your entitlement, discount for time and risk, and tender a binding offer.
- Once the offer is accepted, we provide a simple set of documents proving your claim and
- Finally, funds are wired into your preferred account or sent by bank draft.
To receive an offer or for more information on selling your corporate claim to Spectrum, please contact us.