by Structured Settlement Watchdog
Genex Capital is now suing Terrence Taylor, the black amputee burn victim with a young child over an investment it made in structured settlement payment rights. On October 27, 2017, was a ruling in Portsmouth Circuit Court that Taylor's case could proceed against Structured Asset Funding/123 Lump Sum and Isettlements, an affiliated company of 123 Lump Sum to seek vacated court orders and unwind many of the 8 improvident structured settlement factoring deals originated collectively by those entities. New York Life Insurance Company, the annuity issuer sought to file an inter pleader which would suspend payments to investors, until the Court determines who they belong to. Taylor says he was a resident of West Virginia at the time of many of the transactions, which were submitted by Stephen Heretick, the same lawyer, to a Portsmouth VA Circuit Court that is at the center of a Class Action suit over thousands of other transactions.
Potentially Serious Impact to Genex Capital and Its Investors If They Lose
This could have a serious impact on Genex Capital and its investors, particularly ones that invested with Genex based on the Genex Capital's marketing pieces which state that "None of our buyers have ever experienced a default in payment on their annuities". If an inter pleader is granted, a potentially similar fate may await investors who procured structured settlement payment rights through Genex Capital as those who bought structured settlement derivatives from other companies that were originated by Access Funding. Those investors have had payments in suspense for over 13 months at time of posting. Genex Capital has been militant about using the scam label "annuity" to describe structured settlement derivatives, weakly supporting its claims by citing Merriam Webster. Genex Capital has no choice but to fight Terrence Taylor.
Who Is Genex Capital?
Genex Capital Corporation is a Delaware registered company, which uses a Delaware UPS store mailbox as its corporate address. Operations are run out of Vancouver Canada. The company operates various websites such as Structured Settlement Quotes (SSQ), Quote Me a Price, Settlements (Dot)org and others. The company is led by Roger Proctor (a/k/a Rammjet1 on Twitter) and Boris Drubetsky, and has been associated in the past with brandjacking of competitors, via SSQ, and the Mt Airy Faker David Springer until his Sovereign Funding business went up in flames. Proctor and Drubetsky are also into a lucrative medical marijuana business. Charitable pursuits include donating C$5 for every naked tushie on the Wreck Beach on Skinny Dip Day every July.