$25M+ Finance Receivables
UCC Foreclosure Auction

Details:

• UCC Article 9 public auction of a portfolio of litigation finance receivables owned by Settlement I SPV, LLC, consisting of pre‑settlement advances to plaintiffs together with attorney and medical advances, originated by Mustang Funding, LLC and TLFNJ II, LLC and serviced by Mustang Creek Portfolio Management, LLC. The portfolio consists principally of pre‑settlement advances to plaintiffs in pending personal injury and similar cases, payable out of the settlement or judgment proceeds of the related case, together with a smaller component of advances made to law firms to fund case costs and to medical providers against treatment rendered in those cases. The portfolio carries an aggregate outstanding balance of approximately $12 million and will be offered as a single bulk pool, together with the related case files, servicing records and books and records, on an “as is, where is” basis without recourse or representation of any kind. Single Bulk Pool of Receivables
• Unpaid Principal Balance (as of 8/31/2026): $11,859,219.13
• Payoff Balance (as of 8/31/2026): $12,250,000
• 6/30/2026 Report From Borrower
•   Total Funded Amount Outstanding: $12,670,645
•   Total Current Payoff: $25,219,776
•   Total Expected Case Value: $168,319,321
• ___________
• PLEASE TAKE NOTICE, that in accordance with applicable provisions of the Uniform Commercial Code as enacted in New York, by virtue of certain Event(s) of Default under that certain Loan and Security Agreement, dated as of February 19, 2025 (as amended, restated, supplemented or otherwise modified from time to time, the “Loan Agreement”), executed and delivered by, among others, Settlement I SPV, LLC, a Delaware limited liability company, as borrower (the “Debtor”), and in accordance with its rights as secured party thereunder, Pier Asset Management LLC, a Delaware limited liability company, in its capacity as agent and collateral agent for the lenders party to the Loan Agreement (the “Secured Party”), by virtue of those certain UCC-1 financing statements made in favor of the Secured Party and described on Schedule A below, all in accordance with Article 9 of the Uniform Commercial Code of the State of New York (the “Code”), Secured Party will offer for sale, at public auction, as a single bulk pool, (i) all of Debtor’s right, title, and interest in and to the following: the litigation finance receivables and related assets described on Schedule A below (the “Receivables Pool”), and (ii) certain related rights and property relating thereto (collectively, (i) and (ii) are the “Collateral”). Secured Party’s understanding is that the Receivables Pool consists principally of pre-settlement advances to plaintiffs, law firm receivables and litigation expense advances originated or acquired in the ordinary course of the Debtor’s litigation finance business, together with the related funding agreements, books and records, and all collections and proceeds in respect thereof.Maltz Auctions (“Maltz”), under the direction of Richard B. Maltz or David A. Constantino  (the “Auctioneer”), will conduct a public sale consisting of the Collateral (as set forth in Schedule A below), via virtual bidding, on October 23, 2026 at 1:00 p.m. (Eastern time), in satisfaction of an indebtedness in the approximate amount of $12,250,000.00, including principal plus interest, and reasonable fees and costs, plus default interest through October 22, 2026, subject to open charges and all additional costs, fees and disbursements permitted by law.  The Secured Party reserves the right to credit bid.Online bidding will be made available for pre-registered bidders via zoom.  A link to the auction will be emailed to qualified bidders 24 hours prior to commencement of the auction.