While other structured settlement companies seek funding, RSL stays capitalized
On the same week that Imperial Structured Settlements lost their suit against RSL Funding alleging unfair business practices after RSL offered their customers more money, Imperial Holdings, Inc. announced an Initial Public Offering (IPO) for their common stock. The $287.5M IPO was needed because the structured settlement company was in need of capital, according to Reuters. In its filing, Imperial stated that “at certain points, we were unable to get any debt financing”.
Imperial’s debt problem is just the latest in a string of funding issues plaguing the top players of the structured settlement buying and selling industry since the economic downturn, notably the high profile Chapter 11 filing of JG Wentworth in the spring of 2009 and the significant credit downgrade of Peach Holdings shortly afterward.
Tuan Tran, Director of Operations at RSL believes his company is strongly positioned to grow in the current economic climate. “Our on-hand capital enables us to offer favorable rates for annuities and structured settlement payments which our competitors simply can’t match anymore,” Tran commented, “If you’re looking to get the biggest lump sum payment for your settlement, RSL is your best option.”
Tags: imperial structured settlements, j.g. wentworth, peachtree financial, rsl funding, structured settlement companies