Novation Capital LLC is located in West Palm Beach, Florida. The company was founded in February 2001.
Novation purchases the right to receive settlement payments from insurance companies that stem from settlements related to tort settlements, i.e., personal injury, wrongful death and medical malpractice claims. According to the company website, Novation funds these purchases directly, using “committed lines of credit.”
The contact person listed as Novation’s owner and manager is Robin Shapiro, who has been CEO of the company since 2000. His past experience in the factoring industry includes working as General Counsel for Singer Asset Finance, a position he held for five years. Prior to this, he was a member of the venerable global law firm Morrison & Forrester for 12 years, prior to which he served as a judicial clerk for the Fifth Circuit U.S. Court of Appeals. Mr. Shapiro holds a B.A. in Economics from Swarthmore College and a J.D. from Harvard Law School.
Novation is a member of the National Association of Settlement Purchasers (NASP), an organization that sets standards and ethics for the factoring industry.