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FILED: WAYNE COUNTY CLERK 02/03/2022 12:08 PM INDEX NO. CV088179
NYSCEF DOC. NO. 9 RECEIVED NYSCEF: 02/03/2022
FACSIMILE: 732-2409 At an I.A.S. Part / Term ___ of the
(718)
Supreme Court of the State of New
York, held in and for the County of
Wayne, at the courthouse thereof,
located at 54 Broad Street, Lyons,
New York 14489, on the ____ day
of , 2022.
P R E S E N T: HON. John B. Nesbitt
Justice of the Supreme Court
__...._____......-------...........-------¬---------------------X
CBC SETTLEMENT FUNDING, LLC, INDEX NO. CV088179
Petitioner(s),
- against -
ORDER TO SHOW CAUSE
AMERICAN HOME ASSURANCE COMPANY,
UNITED STATES LIFE INSURANCE COMPANY
IN THE CITY OF NEW YORK, and C.S.,
Respondent(s).
__.. __ __...--------------------------------------X
Upon reading and filing the Petition of CBC Settlement Funding, LLC, dated and verified
on January 26, 2022, the exhibits annexed thereto in support of this proceeding, and upon allthe
pleadings and proceedings heretofore had herein, and sufficient cause having been shown
therein,
Via Microsoft Teams
LET Respondents show cause at an I.A.S. Part / Term ____, Room __, of this Court, at
-the.cou:‡house.-thereefy-lasa'
-54-Broad-Stree ons.,-New-¥or.k-44489, on the 24thday of
February , 2022, at 9-3 o'clock in the -forenoon of that day, or as soon thereafter as
counsel can be heard, WHY an Order should not be made and entered herein as follows:
. .
A. Declariñg that the sale and transfer of structured settlement payment rights,
pursuant to a Purchase and Sale Agreement (the "Purchase Agreement") by and
between C.S., as the Payee/Seller, and CBC Settlement Funding, LLC, as the
Purchaser, complies with all requirements of New York's The Structured
Settlement Protection Act, Gen. Oblig. Law §5-1701 et seq., 26 U.S.C. §5891 et
seq., and Pub. L. 107-134, Title 1, §l35(c)(3)(A);
B. Declariñg that the sale and transfer of structured settlement payment rights is in
the best interest of the Payee/Seller, C.S., taking into account the welfare and
support of the Payee/Seller's dependents (if applicable), and that the transaction,
including the discount rate used to determine the gross advance amount and the
fees and expenses used to determine the net advance amount, are fair and
reasonable;
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FILED: WAYNE COUNTY CLERK 02/03/2022 12:08 PM INDEX NO. CV088179
NYSCEF DOC. NO. 9 RECEIVED NYSCEF: 02/03/2022
C. Declaring that the Payee/Seller, C.S., have been advised in writing of the right to
seek indepeñdeñt professional advice regarding the transfer of structured
settlement payment rights and has either received such advice or knowingly
waived such advice and opportunity in writing;
D. Declaring that the sale and transfer of structured settlement payment rights does
not contravene any federal or state statute or order of any court, governmental
authority or other resposible administrative authority;
E. Declaring that the Purchase Agreement and alldisclosure and related documents
are written in plain language and in compliance with Gen. Oblig. Law §5-702;
F. Authorizing and approving the sale and transfer of structured settlement payment
rights by and between C.S., as the Payee/Seller, and CBC Settlement Funding,
LLC, as the Purchaser, pursuant to the Purchase Agreement;
G. Directing American Home Assurance Company, as the Structured Settlement
Obligor, and United States Life Insurance Company in the City of New York, as
the Annuity Issuer, to recognize and honor the terms of the Purchase Agreement
and the assignment by the Payee/Seller, C.S., to the Purchaser, CBC Settlement
Funding, LLC, its successors and/or assigns;
H. Directing American Home Assurance Company, as the Structured SeMement
Obligor, and United States Life Insurance Company in the City of New York, as
the Annuity Issuer, to make payments in accordance with a certain annuity
contract/policy and as set forth and described in the Purchase and Sale Agreement
"B"
and Disclosure Statement(s) annexed hereto as Exhibit and Exhibit "C"; and
I. Granting such other and further relief as the Court deems just, proper and
equitable.
SUFFICIENT REASON APPEARING THEREFOR, let service of a copy of this Order,
via overnight delivery, together with a copy of the papers upon which said Order was granted,
upon the Respondents (i) C.S.; (ii)United States Life Insurance Company in the City of New
York; god (iii) American Home Assurance Company, on or before the day of
dorua , 2022 (which date shall be at least twenty (20) days before the time at
which app cation is naticed to be heard), be deemed good and sufficient service.
T
J.S .
John . Nesbitt
2
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FILED: WAYNE COUNTY CLERK 02/03/2022 12:08 PM INDEX NO. CV088179 NYSCEF DOC. NO. 9 RECEIVED NYSCEF: 02/03/2022 FACSIMILE: 732-2409 At an I.A.S. Part / Term ___ of the (718) Supreme Court of the State of New York, held in and for the County of Wayne, at the courthouse thereof, located at 54 Broad Street, Lyons, New York 14489, on the ____ day of , 2022. P R E S E N T: HON. John B. Nesbitt Justice of the Supreme Court __...._____......-------...........-------¬---------------------X CBC SETTLEMENT FUNDING, LLC, INDEX NO. CV088179 Petitioner(s), - against - ORDER TO SHOW CAUSE AMERICAN HOME ASSURANCE COMPANY, UNITED STATES LIFE INSURANCE COMPANY IN THE CITY OF NEW YORK, and C.S., Respondent(s). __.. __ __...--------------------------------------X Upon reading and filing the Petition of CBC Settlement Funding, LLC, dated and verified on January 26, 2022, the exhibits annexed thereto in support of this proceeding, and upon allthe pleadings and proceedings heretofore had herein, and sufficient cause having been shown therein, Via Microsoft Teams LET Respondents show cause at an I.A.S. Part / Term ____, Room __, of this Court, at -the.cou:‡house.-thereefy-lasa' -54-Broad-Stree ons.,-New-¥or.k-44489, on the 24thday of February , 2022, at 9-3 o'clock in the -forenoon of that day, or as soon thereafter as counsel can be heard, WHY an Order should not be made and entered herein as follows: . . A. Declariñg that the sale and transfer of structured settlement payment rights, pursuant to a Purchase and Sale Agreement (the "Purchase Agreement") by and between C.S., as the Payee/Seller, and CBC Settlement Funding, LLC, as the Purchaser, complies with all requirements of New York's The Structured Settlement Protection Act, Gen. Oblig. Law §5-1701 et seq., 26 U.S.C. §5891 et seq., and Pub. L. 107-134, Title 1, §l35(c)(3)(A); B. Declariñg that the sale and transfer of structured settlement payment rights is in the best interest of the Payee/Seller, C.S., taking into account the welfare and support of the Payee/Seller's dependents (if applicable), and that the transaction, including the discount rate used to determine the gross advance amount and the fees and expenses used to determine the net advance amount, are fair and reasonable; 1 of 2 FILED: WAYNE COUNTY CLERK 02/03/2022 12:08 PM INDEX NO. CV088179 NYSCEF DOC. NO. 9 RECEIVED NYSCEF: 02/03/2022 C. Declaring that the Payee/Seller, C.S., have been advised in writing of the right to seek indepeñdeñt professional advice regarding the transfer of structured settlement payment rights and has either received such advice or knowingly waived such advice and opportunity in writing; D. Declaring that the sale and transfer of structured settlement payment rights does not contravene any federal or state statute or order of any court, governmental authority or other resposible administrative authority; E. Declaring that the Purchase Agreement and alldisclosure and related documents are written in plain language and in compliance with Gen. Oblig. Law §5-702; F. Authorizing and approving the sale and transfer of structured settlement payment rights by and between C.S., as the Payee/Seller, and CBC Settlement Funding, LLC, as the Purchaser, pursuant to the Purchase Agreement; G. Directing American Home Assurance Company, as the Structured Settlement Obligor, and United States Life Insurance Company in the City of New York, as the Annuity Issuer, to recognize and honor the terms of the Purchase Agreement and the assignment by the Payee/Seller, C.S., to the Purchaser, CBC Settlement Funding, LLC, its successors and/or assigns; H. Directing American Home Assurance Company, as the Structured SeMement Obligor, and United States Life Insurance Company in the City of New York, as the Annuity Issuer, to make payments in accordance with a certain annuity contract/policy and as set forth and described in the Purchase and Sale Agreement "B" and Disclosure Statement(s) annexed hereto as Exhibit and Exhibit "C"; and I. Granting such other and further relief as the Court deems just, proper and equitable. SUFFICIENT REASON APPEARING THEREFOR, let service of a copy of this Order, via overnight delivery, together with a copy of the papers upon which said Order was granted, upon the Respondents (i) C.S.; (ii)United States Life Insurance Company in the City of New York; god (iii) American Home Assurance Company, on or before the day of dorua , 2022 (which date shall be at least twenty (20) days before the time at which app cation is naticed to be heard), be deemed good and sufficient service. T J.S . John . Nesbitt 2 2 of 2