Case Overview

Representing Legalist, a San Francisco-based investment firm that specializes in alternative assets in the private credit industry. Legalist currently manages assets across three separate strategies: litigation finance, bankruptcy finance, and government receivables lending. Legalist's affiliate, Legalist SPV III, LP, entered into an Amended and Restated Government Purchase Order Financing Agreement with Cyberlux Corporation, whereby Legalist provided a revolving line of credit secured by certain collateral, including accounts receivable. Since that time, Cyberlux has become a judgment-debtor in multiple lawsuits and failed to make payments to its creditors, including Legalist. In an effort to collect payment, Cyberlux's judgment-creditors filed enforcement actions in both Texas and Virginia state court. The firm represents Legalist directly in the Texas state court action, and through local counsel in the Virginia state court action. The firm is currently engaged in motion practice to protect Legalist's interests based on its status as Cyberlux's senior secured creditor. In addition to the foregoing actions, our attorneys represent Legalist in a federal interpleader action pending in the Eastern District of Virginia that also stems from Cyberlux's failure to make payment to its creditors. While this case is in its early stages, we will continue to represent Legalist and pursue full payment based on the total amount that Cyberlux currently owes Legalist under the financing agreement.