Continuing a series of Fresno County factoring cases, a California court of appeals has ruled favorably for 321 Henderson Receivables, a J.G. Wentworth affiliate, reversing an earlier opinion of California superior court Judge Alan M. Simpson in 11 factoring cases consolidated for appeal as "Henderson v. Scioteco"
For earlier S2KM reports about the Fresno County factoring cases, see:
- Fresno County Factoring Cases - 1: summary of the Tomahawk and Ramos cases;
- Fresno County Factoring Cases - 2: commentary about the Tomahawk and Ramos cases.
In Henderson v. Scioteco, the California appellate court:
- Reversed the entire consolidated order from the superior court because:
- "...the superior court has committed multiple prejudicial errors in making its factual findings and in reaching legal conclusions" and
- "because these errors cannot be separated from valid findings and legal conclusion..."
- Granted Henderson the right to "amend the SSTA petitions at issue to correct any errors prior to any new hearing on the petitions".
- Held that public policy supports state court approved structured factoring transactions.
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