Edward Stone has practiced law and represented individuals, entrepreneurs and growth stage companies in various capacities in the structured settlement, life settlement, litigation finance and insurance industries for more than twenty-five years. Prior to his involvement in the specialty finance industry, Mr. Stone practiced corporate and private international law, representing a variety of U.S., French, Italian and Spanish banks, finance companies and retail, wholesale and manufacturing entities.
Mr. Stone acts as Special Counsel to the Association of BellTel Retirees and ProtectSeniors.org, two retiree advocacy groups working to protect the earned benefits of retirees. Together with these groups, Mr. Stone has worked to educate lawmakers across the country on the need for federal and state legislation to protect retirees in pension de-risking transactions. In 2014, Mr. Stone secured the passage of a “best practices” resolution by the National Conference of Insurance Legislators (NCOIL) designed to offer guidance to state legislators on issues relating to pension de-risking. Mr. Stone worked with ProtectSeniors.org to enact Connecticut’s Public Act 15-167 restoring creditor protections to retirees in pension de-risking transfers. In May, 2015 Mr. Stone testified before the ERISA Advisory Council addressing the need for disclosures both pre- and post- pension risk transfers.
Mr. Stone represented many victims of the Executive Life Insurance Company of New York liquidation and continues to assist some victims in their quest for recovery of lost benefits.
Mr. Stone is also the President of Stone Capital Assets, consultants and advisors in the specialty finance and insurance industries. He was previously a Managing Director at Plainfield Asset Management, LLC and President and Chairman of Caldwell Funding Corp., a Plainfield portfolio company in the insurance finance business. In 1995, Mr. Stone was responsible for bringing the first institutional purchase facility to the structured settlement market as a founding partner of J.G. Wentworth SSC, LP, serving Wentworth in various capacities, including sitting on its Board of Directors and acting as outside General Counsel. From 1994-2005, Mr. Stone was President of Stone International LLC, a specialty finance consulting and servicing company, which served as the U.S. based administrator of all Contingency Claims Insurance underwritten by Lloyd’s Syndicate 102 f/k/a “Goshawk” and acted as sub-servicer to DZ Bank A.G. in connection with DZ’s credit facility with Life Capital, BV, a Netherlands based financing entity.
Mr. Stone is a frequent speaker and panelist at continuing education seminars lecturing on a variety of topics. Most recently, Mr. Stone participated in a panel discussion on current developments in the structured settlement secondary market at the 2017 Annual Conference of the Society of Settlement Planners. Mr. Stone was a featured speaker at the 2013 National Association of Settlement Purchasers (NASP) Annual Conference presenting on the Executive Life Insurance Company of New York (ELNY) debacle. Mr. Stone was also a guest speaker at the 2014 annual meetings of the Association of Bell Tel Retirees and ProtectSeniors.org addressing issues concerning retirees in pension de-risking transactions. In May 2015 Stone gave testimony before the Department of Labor’s ERISA Advisory Council on disclosures in pension risking transfers. Mr. Stone has also spoken on emerging and alternative asset classes, litigation finance, and intellectual property monetization for the Practicing Law Institute and the Life Settlements and Longevity Summit.
Mr. Stone is a graduate of Clark University (B.A.) and earned his law degree from Benjamin N. Cardozo School of Law, Yeshiva University (J.D.). He also studied at the Institut d’Etudes Politiques in Paris, France and taught English at the Lycee Louis le Grand, also in Paris.
US District Court, Southern District of New York
US District Court, Eastern District of New York
US District Court, Connecticut
Mr. Stone speaks fluent French and proficient Spanish.
New York State Bar Association