by Structured Settlement Watchdog®
Genex Capital, Genex Strategies, Inc, and Structured Settlement Quotes (SSQ) are Defendants in a Connecticut lawsuit which alleges "SSQ is nothing more than a fraudulent and deceptive scheme designed to mislead and deceive consumers and benefit certain companies and persons, and in particular Genex Capital and persons and companies affiliated with Genex Capital".
Woodbridge has had to take the extraordinary step of using the Hague Service Convention, serving Defendant Genex Strategies, inc. at Roger Proctor's condo in Vancouver on June 10, 2014 in an effort to assure proper service for a business that advertises a Connecticut address. Note that Genex Capital was also served on April 17, 2014 at the 400 Pratt Street Baltimore MD Regus office address it advertises on the Maryland BBB and the 99 Green Tree Drive Dover DE UPS mailbox address it advertises on the Genex Capital website. Despite the confirmed service to the US based addresses none of the Defendants has responded and it is well past the return date.
If you do business with Genex Capital, SSQ or any of its entities you may now need to consider that if you have a dispute and want to sue them, you might be in for the same ride with respect to Hague Service.
The complaint in Woodbridge Structured Funding, LLC v Structured Settlement Quotes, Genex Capital and Genex Strategies, Inc., filed in the United States District Court for the District of Connecticut (Civil Action 3:14: CV-00214) states " While SSQ purports to be a neutral market place, SSQ misleads unsuspecting consumers and steers them to Genex Capital and other related entities and away from competitors".
Woodbridge Structured Funding, LLC accuses Defendants Genex Capital., Genex Strategies, Inc. and SSQ of:
- Disparagement [28 USC Section 1125(a)]
- Contributory Infringement
- Violation of Connecticut Unfair Trade Practices
The case is interesting for a number of reasons:
Upon information and belief, Genex Strategies, Inc., Genex Capital essentially operate out of Vancouver British Columbia. The former is a British Columbia Corporation. The Dover Delaware address used on the Genex Capital website is a UPS mailbox. No doubt as this case continues the issue of where a settlement purchaser's ultimate address is and how that is advertised to consumers will become the subject of an intense examination and debate that could extend beyond this lawsuit and onto the radar of the state legislatures that have structured settlement protection acts. There is more than one company in the structured settlement secondary market that operates out of a virtual office address.
It will be interesting to see if the Genex entities attempt to defend by claiming it does not do business in CT. None of the above entities are registered to do business in the State of Connecticut, despite the fact that the only public address on the SSQ website lists an address in Hartford CT that has been held out as the address of SSQ since mid-2012, that is a mailbox at a Regus office center in Hartford, which upon information and belief has been essentially used to forward mail to Roger Proctor's condo at the Fairmont Pacific Rim 1011 West Cordova Street, Suite 3502 Vancouver, BC . [ There is both published and discoverable evidence that shows that Genex Capital has done business in Connecticut. One example is the CT Law Tribune's 2009 annual survey of the best vendors which listed Genex Capital and mention was even made of it on the Genex Capital blog in a quote attributed to Roger Proctor. (post #63).
Connecticut General Statutes 33-921(d) deals with the penalties for Transacting Business in the State of Connecticut without authority. On May 24, 2012 I advised Jeffrey Kolansky, Roger Proctor's attorney of this law in a letter and the Secretary of State yet at time of publishing no entity is registered according to the State of Connecticut's C.O.N.C.O.R.D. date base.
Upon information and belief, SSQ was acquired by Roger Proctor and/or one of the Genex entities in or about November 2011 from Andrew Cravenho who started the website in or about 2007. Cravenho provided services to Roger Proctor and David Springer as can be verified by a copy of an email about linking services provided to me by an informant on May 25, 2012.
The SSQ website proclaims that "Structured Settlement Quotes ("SSQ") is America's #1 Structured Settlement Marketplace having served over 11,000 customers and transacted more than $500 million in payments since 2007, and counting". Follow the money.