Superior Court of California

County of Los Angeles

Department 78

IN THE MATTER OF:

J.G. WENTWORTH ORIGINATIONS,LLC;

C.T.; 

PETITIONER J.G. WENTWORTH’S PETITION FOR APPROVAL FOR TRANSFER OF PAYMENT RIGHTS

This matter is CONTINUED to allow Petitioner to file the missing declaration of Payee C.T. The declaration must be filed and served on or before June 21, 2024.

The hearing date is continued to June 26, 2024 at 8:30 a.m.

Petitioner to provide notice and to file proof of service of such notice within two days after the date of this order. 

FACTUAL BACKGROUND

This is a Petition for Approval for Transfer of Payment Rights. Petitioner J.G. Wentworth Originations, LLC alleges that Payee C.T.  (“Payee”) became entitled to certain structured settlement payments in connection with a settlement she had received through a wrongful death lawsuit when she was a minor. (Amended Petition, ¶3.) In 2019, Payee became entitled to future payments through a structured settlement annuity. (Id., ¶¶4-5.) Under this annuity, Payee is set to receive periodic payments from Omaha Life Insurance Company. (Id. at ¶ 5.) Payee has now entered into a Purchase Agreement with Petitioner for the purpose of transferring the annuity payments to Petitioner in exchange for a lump payment. (Id. at ¶7, Exh. A.) 

If the Purchase Agreement is approved by the Court, then Payee will transfer and assign to Petitioner future payments totaling $28,386.36. (Amended Petition, Exh. A, pdf p.22.) In exchange, Petitioner will pay Payee $13,102.90. (Id.) 

PROCEDURAL HISTORY

Petitioner filed its Petition on May 2, 2024. 

On May 3, 2024, Petitioner filed an Amended Petition.

DISCUSSION

I. Petition for Approval of Transfer of Structured Settlement Payment Rights

A direct or indirect transfer of structured settlement payment rights is not effective unless the transfer has been approved in a final court order based on certain express written findings by the Court.  (Ins. Code, § 10139.5, subd. (a).) 

The transferee must comply with the notification requirements of subdivision (f)(2).  (Ins. Code, § 10139.5, subd. (a)(3).) A notice of proposed transfer and petition must be filed and served no later than 20 days before the hearing and must include: 

(1) a copy of the transferee’s current petition and any other prior petition; 

(2) a copy of the proposed transfer agreement and disclosure form required by section 10139.5, subdivision (a)(3); 

(3) a listing of each of the payee’s dependents and their ages; 

(4) a copy of the disclosure required in section 10136, subdivision (b); 

(5) a copy of the annuity contract, any qualified assignment agreement, and underlying structured settlement agreement, if available; 

(6) proof of service showing compliance with the notification requirements; 

(7) notification that any interested party is entitled to support, oppose, or otherwise respond to the transferee’s petition by submitting written comments to the court or by participating in the hearing; 

(8) notification of the time and place of the hearing and notification of the manner in which and the time by which written responses to the petition must be filed; and 

(9) notice to the payee’s attorney of record at the time the structured settlement was created, if payee entered into the structured settlement at issue within five years prior to the date of the transfer agreement.  (Ins. Code, § 10139.5, subd. (f)(2).)

Here, the Court finds that Petitioner has not complied with the requirements set forth under Institution Code § 10139.5, subd. (f)(2). 

The Petition includes a copy of the proposed transfer agreement, disclosure form, and annuity agreement. (Petition, Exhs. A-C.) The Petition also includes notification of the time and place of the hearing, notice that interested parties are entitled to respond, notice of the manner in which a written response must be filed, and notice to Payee’s settlement attorney of record. 

Although Petitioner alleges Payee is single with no minor children, Petitioner refers to a declaration which was not filed. (Petition, p.4.) Payee’s declaration is necessary to show Petitioner complied with the other subdivisions of Ins. Code, § 10139.5. Because this declaration contains important information which is necessary to the Court’s determination of this Petition, this matter is continued to allow Petitioner to file the missing declaration.

DATED:  June 17, 2024

Hon. Jill Feeney 

Judge of the Superior Court