REPAYMENT THROUGH NON RECOURSE CONTRACTS RELATED TO LITIGATION

摘要

The invention provides for a contract to serve lending industries to cover litigation related loans. More particularly the invention is a computer method that protects against the risk of financial losses of non-recourse litigation loans through: forming by a contract; forming a first market participant providing for a contingency payment electronically triggered by the occurrence of a credit event of a reference entity; forming a second market participant; requesting the second market participant to provide a premium payment in exchange for the contingency payment electronically triggered by the occurrence of the credit event; initiating a trade between the first and the second market participant; and determining the occurrence of the credit event; calculating the value of the contract and transferring to the second market participant a sum of money equivalent to the value of the contract.

主权项

1. A computer method for searching and retrieving of documents in a computer network to pay a non recourse loan comprising: (a) receiving from a user, through an input device, a query for a non recourse loan; guiding the user through a series of graphical user interface queries to supply information to a database about a litigation case; (b) processing the query to extract one or more of: an identity of a litigant, type of litigation case, a range of economic damages, name of insurance carriers, type of coverage; (c) the non recourse contract amount, an estimate of the time to conclude the case, a court in which the case resides, an estimate of litigation success; performing an actuarial analysis based on one or more of: the identity of a litigant, type of litigation case, the range of economic damages, name of insurance carriers, type of coverage; (d) the non recourse contract amount, the estimate of the time to conclude the case, the court in which the case resides, the estimate of litigation success; (e) performing a search of an electronic data base, using the terms of the contract, to find a contracting party offering a non recourse contract; (f) calculating a contract premium to be paid for a non recourse loan coverage of the standard contract; obtaining a search result in the form of one or more site names, universal resource locators, web pages and documents having descriptions of one or more loan entities satisfying search criteria offering the non recourse contract terms; (g) displaying the search results to the user; (h) selecting one of the loan entities; (i) purchasing the selected loan entity contract by the user; utilizing a crawler to monitor the litigation case progress; (j) utilizing one or more of an application specific processor or executable computer code, to determining if a previous litigation case document has changed from a current litigation document; (k) wherein the change produces an electronic indicator signal if the litigation case status occurs; and (l) comparing the database litigation case that produced the electronic indicator signal, to a litigant contracts database containing a related litigation case, such that if the comparison matches then, the comparator stores a flag in a register; (m) reading the flag by the processor that executes computer code to test if an insured is entitled to a sum of money equivalent to the value of an insured interest.