Prospect Funding Holdings, LLC v. Saulter

¶ 1 This case raises issues of first impression concerning an attorney's liability to a business that loans a client money to be repaid, plus fees and interest, from any settlement or judgment. Attorney Keenan J. Saulter arranged for his client, Angela Wright-Housen, the plaintiff in a wrongful death lawsuit, to borrow $25,000 from Prospect Funding Holdings, LLC, under a purchase agreement. The agreement provided that any disputes were to be heard in Hennepin County, Minnesota, and to be governed by Minnesota law. Wright-Housen also signed an irrecovable letter of direction instructing…