Judge: Layne H. Melzer, Case: 2023-01324432, Date: 2023-07-27 Tentative Ruling

Petitioner CBC Settlement Funding, LLC

Motion for Approval of Transfer of Structured Settlement Payment Rights Pursuant to California Insurance Code §10134 ET SEQ.

Petitioner CBC Settlement Funding, LLC’s (“Petitioner”) First Amended Petition for approval of transfer of structured settlement payment rights of payee Theresa Weller is granted.  Petitioner is to submit a proposed formal order.

The Court approves payee transferring the payee’s rights to structured settlement payments totaling $151,130.00 in exchange for a purchase price of $80,685.00.

The Court finds that (Insurance Code § 10139.5(a)):

(1)   The transfer is in the best interest of the payee taking into account the welfare and support of the payee’s dependents.

(2)   The payee has been advised in writing by the transferee to seek independent professional advice regarding the transfer and has either received that advice or knowingly waived in writing the opportunity to receive the advice.

(3)   The transferee has complied with the notification requirements of Insurance Code § 10136 and the transfer agreement complies with Insurance Code §§ 10136 and 10138.

(4)   The transfer does not contravene any applicable statute or the order of any court or other government authority.

(5)    The payee understands the terms of the transfer agreement, including the terms set forth in the disclosure statement required by Insurance Code § 10136.

(6)   The payee understands and does not wish to exercise the payee’s right to cancel the transfer agreement.

Petitioner to give notice.