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FACSIMILE NO: (718) 732-2409 At an I.A.S. Part 24 of the Supreme
Court of the State of New York,
held in and for the County of
Queens, at the courthouse thereof,
located at 88-11 Sutphin Boulevard,
Jamaica, New York 11435, on the
____ day of _______________,
2023.
P R E S E N T: HON. SALLY E. UNGER
Justice of the Supreme Court
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FIVE FOURTHS FINANCE, LLC, INDEX NO. 709114/2023
Petitioner(s),
- against - ORDER
AMERICAN HOME ASSURANCE COMPANY, (American Home / US Life
THE UNITED STATES LIFE INSURANCE Assigned Payments)
COMPANY IN THE CITY OF NEW YORK,
BRIGHTHOUSE LIFE INSURANCE COMPANY,
and NANCY BUENAVENTURA,
Respondent(s).
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AND NOW, this ____ day of July, 2023, upon consideration of the Order to Show Cause
and Verified Petition for the approval of the transfer of structured settlement payment rights (the
“Petition”) filed by Five Fourths Finance, LLC (“FFF”), it is hereby ORDERED, ADJUDGED,
and DECREED as follows:
1. The transfer of structured settlement proceeds by Nancy Diane Buenaventura
a/k/a Nancy D. Buenaventura a/k/a Nancy Buenaventura a/k/a N. Buenaventura a/k/a N.B.
(“Buenaventura”) to FFF, as described in the Petition in this matter (the “Proposed Transfer”), is
approved.
2. Jurisdiction exists in this Court, pursuant to NY GEN OBLIG. LAW § 5-1705(b)(i),
because Buenaventura is domiciled and resides in Queens County, New York and has consented
to the jurisdiction of this Court.
3. The Petition complies with all of the requirements of the NY GEN OBLIG. LAW
§ 5-1701, et seq.
4. All of the disclosure requirements of NY GEN OBLIG. LAW § 5-1701, et seq. have
been complied with, including the receipt by Buenaventura of the separate Disclosure Statement,
provided by FFF, not less than 10 days before the execution of the transfer agreement.
5. A true and complete copy of the Order to Show Cause and the Petition were
served on the annuity owner, American Home Assurance Company (“AHAC”), and the annuity
issuer, The United States Life Insurance Company in the City of New York f/k/a American
International Life Assurance Company of New York (“US Life NY”), and all interested parties
pursuant to NY GEN OBLIG. LAW § 5-1705(c) and/or as otherwise prescribed and directed by the
Court.
6. The Proposed Transfer is in the best interests of Buenaventura as defined in NY
GEN OBLIG. LAW § 5-1706(b); taking into account the welfare and support of Buenaventura’s
dependents, if any; and the Proposed Transfer, including the discount rate used to determine the
gross advance amount, and the fees and expenses used to determine the net advance amount is
fair and reasonable pursuant to NY GEN OBLIG. LAW § 5-1706(b).
7. Pursuant to NY GEN OBLIG. LAW § 5-1706(c), Buenaventura has been advised in
writing by FFF to seek independent professional advice regarding the Proposed Transfer, and has
either received such advice or knowingly waived such advice in writing;
8. Pursuant to NY GEN OBLIG. LAW § 5-1706(d), the Proposed Transfer of certain
structured settlement payment rights by Buenaventura to FFF does not contravene any applicable
federal or state statute or the order of any court or other responsible governmental or
administrative authority.
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9. Pursuant to NY GEN OBLIG. LAW § 5-1706(e), the transfer agreement is written in
plain language in compliance with the provisions of NY GEN OBLIG. LAW § 5-702, et seq.
10. Buenaventura represents and warrants that she has all right, title, and interest in
and to the Assigned Payments (defined below), that said payments were not previously
transferred, assigned, sold, encumbered, or otherwise alienated, and that she is not aware of any
claim or potential claim against, or interest of any third-party in, said payments or payment rights
other than as expressly set forth herein. This representation and warranty includes, but is not
limited to, Buenaventura’s rights and/or obligations as set forth in any underlying document(s)
(i.e. settlement agreement, release, uniform qualified assignment, order approving the settlement,
etc.) entered or executed in connection with, related to, or arising out of, the creation of the
Annuity (the “Underlying Documents”).
Based on the foregoing findings and being satisfied that the Proposed Transfer satisfies
all applicable statutory requirements, it is hereby,
ORDERED that the Petition is GRANTED and APPROVED as follows:
Pursuant to NY GEN OBLIG. LAW § 5-1701, et seq., the assignment by Buenaventura to
FFF of all of her right, title, and interest in and to certain payments is hereby APPROVED.
It is further, ORDERED that annuity owner, AHAC, and annuity issuer, US Life NY, are
hereby directed, on the dates set forth therein, to deliver and make payable certain payments due
under annuity contract No. 418793 (the “Annuity”), as follows:
one (1) lump sum payment of $30,000.00 due on April 1, 2025; and
one (1) lump sum payment of $30,000.00 due on April 1, 2030
(the “Assigned Payments”). The Assigned Payments, when due, shall be sent to DRB Capital,
LLC (“Assignee”), as the designated assignee of FFF, at the following address:
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DRB Capital, LLC
Attn: Dept. #0210
P.O. Box 850001
Orlando, FL 32885-0210
(the “Designated Address”). US Life NY and AHAC shall discharge their obligation to make the
Assigned Payments in question by paying and directing said payments to Assignee and by doing
so US Life NY and AHAC shall not have any liability to Buenaventura for the Assigned
Payments. This Order in no way modifies or negates the ownership or control over the Annuity
by US Life NY and/or AHAC.
It is further ORDERED that FFF, Assignee, and their affiliates and successors in interest,
shall defend, indemnify, and hold harmless AHAC and US Life NY, and their successors and
assigns, parents, affiliates, and subsidiaries, from and against any and all liability from all claims
in connection with, related to, or in any way arising out of the issuance of the Assigned
Payments to Assignee, whether such claims are brought by Buenaventura (including
Buenaventura’s heirs, beneficiaries, and/or executors), by any individual or entity to which
Assignee subsequently assigns or transfers the Assigned Payments or any portion thereof, or by
any other individual or entity. To the extent that FFF and/or Assignee neglect to honor this
indemnification and defense obligation within thirty (30) days of presentation to FFF and
Assignee of documentation describing the related liability, AHAC and US Life NY may, in
addition to all other remedies available at law, satisfy the same by withholding to their credit any
remaining Assigned Payments.
It is further ORDERED that neither the fact of the entry of this Order, nor any term or
action taken hereunder, shall be admissible at any time in any action or proceeding for any
purpose, except if required in connection with the enforcement of any party’s rights hereunder.
It is further ORDERED that AHAC and US Life NY are hereby discharged from all
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liability for the Assigned Payments as to all parties except Assignee and its successors and/or
assigns. This Order is entered without prejudice to the rights of AHAC and US Life NY, and the
Court makes no finding regarding the enforceability of any anti-assignment provisions contained
in the annuity contracts or related documents.
It is further ORDERED that the death of Buenaventura, prior to the due date of the last
Assigned Payment, shall not affect the transfer of the Assigned Payments from Buenaventura to
Assignee, and Buenaventura understands that she is giving up her rights, and the rights of her
heirs and/or successors, to the Assigned Payments.
It is further ORDERED that, in and as consideration for the Assigned Payments,
Buenaventura will receive a gross/net advance amount of $39,307.74.
It is further ORDERED that this Order shall constitute a “Qualified Order” within the
meaning of 26 U.S.C. § 5891, et seq. and finally disposes of all claims and all parties; all
motions not specifically granted herein are DENIED.
SO ORDERED, this _____ day of July, 2023.
J.S.C.
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