Tag: interpleader

Southern Holdings Settlement Money Ruling

A ruling has finally come from the court on the litigation and settlement funds associated with the Southern Holdings case that we have been following for years.

The ruling came in an interpleader action asking the court to rule on who has claim to the remaining Southern Holdings litigation and settlement funds and how much should go to each claimant.

The interpleader case was brought by attorney and Lexington Magistrate John Rakowsky who represented seven individual plaintiffs in the original Southern Holdings case. Rakowsky stated he didn’t know who had claims to the remaining litigation and settlement money he held.

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The Tangled Web of Southern Holdings – Update

Any time you get close to an issue that stems from the original Southern Holdings lawsuit, the tangled web of deception grows.

The latest involves a hearing before S.C. District Court Judge Doyet A. Early, scheduled for Wednesday August 20, 2014, to hear Emergency Omnibus Motions to Compel the production of a settlement agreement for the Southern Holdings case that includes demonstration of “informed consent” by each of the original Southern Holdings plaintiffs.

The existence of an “informed consent” settlement agreement is required by state and federal law to demonstrate that attorney John Rakowsky, who represented the original seven Southern Holdings plaintiffs, had the “informed consent” of his clients to settle the Southern Holdings case.

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Judge to Look At Southern Holdings Missing Money

A S.C. District Court judge has put off further hearings for three months with respect to remaining litigation funds from the Southern Holdings case while he considers various motions that have been ignored since 2008.

One of those motions regards the missing approximately $60,000 that was never included in an accounting provided to the court by attorneys John Rakowsky and Adrian Falgione. Rakowsky’s trust fund was allegedly used for the accounting.

According to information provided to the court, LawMax, Litfunding and Resolution Settlement Corporation advanced at least $125,000 to Southern Holdings plaintiffs’ attorneys Rakowsky and Falgione to be used for funding expenses, not including lawyer’s fees, associated with the case.

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Southern Holdings Interpleader in Court Today

Another hearing on litigation funds held over from the Southern Holdings case will be held in court in Richland County today.

This case has been ongoing since 2008, after the Southern Holdings plaintiffs tried to get the remaining funds held by their attorneys, Lexington chief magistrate judge John Rakowsky and co-counsel Adrian Falgione, released.

However, as with everything that touches the Southern Holdings case, this hearing will inevitably leave more questions than it will provide answers.

Even the amount of the funds in question remains very much a mystery. There appears to be at least $60,000 missing from Rakowsky’s accounting.

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