by Alex Polovoy | in CBC News
CBC Settlement Funding, LLC (“CBC”), is pleased to announce the completion of its fifth private placement backed by fixed annuity and structured settlement payments. Through its subsidiary BBRV, LLC, the Conshohocken based company issued $16,550,641 of fixed rate asset backed notes with a yield of 5.07%.
William Skyrm, CBC Settlement Funding, LLC CEO and Co-founder, commented, “We are excited about the continued interest from our investor base in our structured settlement and annuity receivables.” Mr. Skyrm concluded, “We are extremely pleased with the execution of this transaction resulting from increased institutional demand due to the attractive yield relative to the risk profile of the asset class.”
ABOUT STRUCTURED SETTLEMENTS
Structured settlements are commonly used in the settlement of personal injury lawsuits to spread payouts over 10, 20 or 30 years. The secondary market for structured settlement annuity transfers is a highly regulated market place offering clients liquidity options for otherwise inflexible assets. In 2002, Congress passed IRC 5891 affirming the tax benefits of structured settlements but requiring compliance with all applicable state or federal laws. Today, 49 states have enacted structured settlement protection acts requiring court review and approval of each structured settlement transfer.
James Goodman, President and Co-founder
CBC Settlement Funding, LLC