Oasis Legal Finance Group, LLC v. Coffman, Colorado Attorney General

Summary

The court held that litigation-finance agreements under which companies advance money to tort plaintiffs in exchange for future litigation proceeds are loans subject to Colorado's Uniform Consumer Credit Code. The agreements create an obligation to repay that generally increases over time, and the absence of personal liability for any shortfall does not prevent the transactions from being loans. The court therefore affirmed the court of appeals' judgment.