NEW YORK, Jan. 18 /CNW/ -- Abacus Settlements, LLC, a leader in the life
settlement industry (www.abacussettlements.com) announced today that a
European life settlement company utilizing the name Abacus has agreed to cease
using the name, which is a trademark of Abacus Settlements, LLC. The company
agreed immediately to change its name to "European Life Settlements
Abacus Settlements, LLC has used its trademark in the US and Europe since
2004 and has acquired an international reputation for superior life settlement
services and other goodwill. On January 3, 2008, a press release was issued
regarding a new European life settlement management company called "Abacus
Life Settlements Management". The press release caused immediate confusion
among Abacus Settlements, LLC's customers and business partners. Abacus
Settlements, LLC received numerous emails regarding whether it had any
relationship or association with this new company. On January 14, 2008,
Abacus Settlements, LLC issued a demand for the European company to cease and
desist utilizing the name Abacus. The European company contacted Abacus'
counsel on January 17, 2008, admitting that the name caused some confusion in
the marketplace and advised it of the name change.
"This was an unfortunate incident that has been rectified and we are
obviously satisfied with the outcome of this matter." says Craig Seitel, CEO
and founding member of Abacus Settlements, LLC.
If you would like more information on this topic, call Edgardo Gonzalez,
General Counsel at (212) 584-5700.
Available Topic Expert(s): For information on the listed expert(s), click
appropriate link. Craig Seitel
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