HOUSTON - A lawsuit lender recently brought a breach of contract lawsuit against a Houston law firm.
Series 2 – Virage Master filed suit against The Sydow Firm, Michael Sydow and David Fettner, as receiver, on Jan. 18 in Harris County District Court.
According to the lawsuit, Virage is a litigation funding company that lends to law firms for business purposes, including marketing, case expenses, overhead and growth. On Nov. 20, 2014, Virage and Sydow and the firm agreed to a loan of $2,060,000.
Since 2014, Sydow has only repaid $22,425 to Virage, the lawsuit alleges.
Virage is seeking Declaratory Judgment and is asserting a claim for breach of contract against Sydow and the firm.
The Houston law firm of Ahmad, Zavitsanos & Mensing represents Virage.
Case No. 2023-03316