Judge: Layne H. Melzer, Case: 2023-01328113, Date: 2023-07-27 Tentative Ruling

Petitioner Peachtree Settlement Funding, LLC

Petition for Approval for Transfer of Payment Rights

Petitioner Peachtree Settlement Funding, LLC (“Petitioner”) seeks approval of the transfer of the following payment rights by and between Connie Delaney (“Payee”):  78 monthly life contingent payments of $3,000.00 each, beginning on April 1, 2038 and ending on September 1, 2044.

Initially, the Court notes that Petitioner did not comply with Insurance Code section 10139.5, subdivision (f)(2), given recent filings on July 21, 2023. (ROA Nos. 16 and 18.)  In addition, the Court notes that Payee is agreeing to an extraordinarily low percentage of the present value of her settlement payments.  The proposed transfer seeks to transfer future payments in the amount of $234,000, with a present value of $107,700.76, in exchange for $14,000.  The quotient in this transaction is only 12.99%, an amount which is low, even taking into consideration the contingent nature of the payments and Payee’s age. 

Based on the evidence provided, the Court cannot find that the proposed transfer of the structured settlement payment rights is fair and reasonable, and in the best interest of Payee pursuant to Insurance Code sections 10137, subdivision (a) and 10139.5, subdivision (a)(1).  Consequently, the Petition is denied.

Petitioner shall give notice.