My friend Harvey Hirschfeld, President of LawCash, has graciously issued the following statement to clarify the relationship with Esquire Settlement Services which was covered in yesterday's post.
I hope you are well.
I wanted to address the contentions raised in your blog post of October 20, 2009 as well as clear up any potential confusion on behalf of you or your readers.
As you accurately reported, a Limited Partnership formed by myself and others, did buy SSI in September 2006. LawCash however, has never had any ownership interest in SSI. When SSI was initially acquired by this Limited Partnership, we did have a brief period of time when we were doing some cross-marketing between the companies, as it seemed logical to cross-market LawCash and SSI, two companies both providing financial products to plaintiffs. As a remnant of this time that we were cross-marketing companies, there is mention of structure buy-outs on LawCash’s website as linked to in your blog. I wanted to make sure you knew that we are now in the process of rapidly taking this reference off of LawCash’s web page to avoid even the appearance of impropriety or confusion. I would expect to see this concluded before the end of the week.
In addition, earlier this year, I, along with a few others, formed an LLP which took an ownership interest in Esquire Settlement Services. Again, neither LawCash nor SSI has any ownership interest in ESS. We recognized an opportunity existed in working with Randy Levine and Brian Schachter as settlement consultants. Since we knew Brian and Randy as well respected trial lawyers, we felt that they had a unique entry point into the structured settlement business due to their network of peers and colleagues in the plaintiff’s bar. We are very pleased with our association with them in Esquire Settlement Services.
To reiterate, please rest assured that LawCash has no ownership interest in either SSI or ESS, and that ESS and SSI have absolutely no contact or affiliation with each other. We are very clear on this position.
I hope this clarifies any question that you had. Please
give me a call at any time to discuss this or just to say hello. It has been a
Harvey R. Hirschfeld
T 718 875-0605
addition to Mr. Hirschfeld's letter this author received an email today from
Brian Schachter, which stated that his Millennium affiliated company
neither refers business to factoring companies nor accepts finder fees