by Structured Settlement Watchdog
The legal case against Flatirons Bank and its cohorts in the joint venture operating as Justice Escrow grows stronger by the day, claim lawyers for Eastern Point Trust Company in a press release issued May 29, 2025.
"Documents recently produced by certain governmental entities provide clear evidence that the Justice Escrow QSF 
platform is nothing more than Eastern Point Trust Company’s QSF360 platform by another name
Dycio & Biggs Attorneys at Law, now intend to file a new complaint against Flatirons Bank and the other Justice Escrow defendants based on this newly acquired information.
NEW Complaint will largely mirror the allegations in the prior complaint, while also materially expanding the named defendants and increasing the damages claims
Necessarily, the original action was dismissed voluntarily, and not as a result of any court ruling, and in no way prejudices Eastern Point Trust Company from proceeding against the defendants in the forthcoming action, which shall take precedence over the prior proceedings".
Read Structured Settlement Watchdog blogs on the alleged Intellectual Property Infringement Matter
Copy of Eastern Point Trust Company Press Release May 29, 2025 Eastern Point Trust Company vs. Flatirons Bank et al.
What Has Flatirons Bank Written?
Flatirons Bank contacted me in April, following the publication of a brief statement on its website later that month, notably lacking a detailed point-by-point rebuttal. Flatiron's brief statement mentioned that "Flatirons Bank is aware of recent litigation initiated by a competitor regarding Justice Escrow. We (Flatirons Bank) believe these claims are entirely without merit and a poor attempt to disrupt innovation and client choice in the industry. We are confident that we will prevail under the law, and we look forward to a resolution that underscores the validity and innovation of our product"
Who is behind Justice Escrow?
Town of Lovell Wyoming initially nixed the Town's QSF agreement with Flatirons, after receiving Eastern Point's Intellectual Property claim as was reported in the Lovell Chronicle and discussed in commentary in my January 31, 2025 blog linked above.
According to the Lovell Chronicle, the town council was to meet at noon on Wednesday, Jan. 29, 2025 to discuss a proposed Compromise Settlement Agreement with Eastern Point Trust Company, but after an executive session, the council voted to table the settlement agreement and scheduled a second special meeting for the next day, January 30.
According to the Lovell Chronicle, attending the January 30 meeting were Jakob Norman of Trial Lawyers for Justice from Bozeman, Montana, and Nick Coccimiglio of Justice for Life from Alpine, Wyoming, both of whom had worked with the town since the beginning on the QSF arrangement. (Lovell town) Attorney Rolin was traveling and attended the meeting by Zoom, as did several other persons from Flatirons Bank and other entities. A natural question to ask is who were the "several other persons and other entities". See below for the answer.
Timeline
January 24, 2025
"Town Attorney Alexa Rolin talked to Lovell Town Counsel about a records request Lovell received in regard to the QSF Agreement with Flatirons Bank. In the notice it is demanding the Town terminate the QSF contract and advised that we are not to destroy anything information pertaining to the QSF Agreement. The request is generally a precursor to a lawsuit.
Dan Anderson made a motion to move to Executive Session W.S.S 16-4-405 (iii) On matters concerning litigation to which the governing body is a party or proposed litigation to which the governing body may be a party. Second by Bob Mangus. All in favor. Motion passed.
The meeting went into Executive Session at 11:39 am.
The meeting was reconvened at 12:17 pm.
Bob Mangus made a motion to Authorize legal counsel to draft a letter to terminate the contract with Flatirons Bank immediately and we will waive charging our legal counsel fees if they agree to the termination. Second by Carol Miller. All in favor. Motion passed.
Lovell town meeting to approve termination of Flatirons contract.
January 30, 2025 As reported by the Lovell Chronicle, the Lovell special meeting attended by among others settlement planner Nick Coccimiglio, lawyer Jakob Norman (as would be expected given their role in establishing the program with the town of Lovell)
But I have learned with respect to the January 30, 2025 meeting, through information that is publicly available to anyone, that that the "several other persons from other entities" referred to in the Lovell Chronicle report of the meeting included:
- Multiple representatives of a life insurance company that currently issues structured settlement annuities. The representatives included the insurer's CFO & Treasurer, an individual involved with strategic partnerships and direct and indirect sales efforts.
- A settlement planner from California, other than aforementioned Nick Coccimiglio
- Another settlement planner from Oregon, formerly President of the Society of Settlement Planners
- The former CEO of a Life Insurance Company that issues structured settlement annuities and Delta Group, a structured settlement brokerage. It is worth noting that the LIfe Insurance Company in question made an announcement that another executive would be the new interim CEO earlier in January 2025, as I reported in a blog published January 10, 2025 New Leadership at Independent Insurance Group as Herrema takes over as Interim CEO - Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews
February 25, 2025 Lovell proceeds with settlement agreement with Eastern Point Trust Company. According to Town of Lovell minutes, "Council was presented with Eastern Point Trust Company Settlement Agreement. Dan Anderson made a motion to enter into Eastern Point Trust Company Settlement Agreement and authorize the mayor’s signature. Second by Bob Mangus. All in favor: Dan Anderson, Bob Mangus and Carol Miller. Any opposed: Mike Grant. Motion passed".
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