DRB Capital -- Structured Settlement Receivables Successfully Acquired
DRB Capital, LLC, is a Florida-based specialty finance company that buys and sells structured settlement receivables, such as annuity payments and court-ordered payments. Those recurring payments are sold so the seller can receive an immediate lump-sum payment. DRB planned to purchase structured settlement receivables from another specialty finance company and sought Arnall Golden Gregory’s help in putting together the deal.
Arnall Golden Gregory attorneys negotiated on the client’s behalf the term sheet, the purchase agreement and various ancillary documents, including agreements that will govern the servicing of the purchased receivables for DRB after closing.
As a result of the deal, DRB, which has over $1 billion in committed capital and employs more than 150 people, was able to add a substantial inventory of structured settlement receivables to its balance sheet.
- Sherman A. Cohen
- Ronald A. Weiner