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Electronically Filed
JAMES R. FELTON, ESQ. (State Bar No. 138767) 1/16/2024 10:08 AM
jfelton@ gblawllp.com Superior Court of California
G&B LAW, LLP County of Stanislaus
16000 Ventura Boulevard, Suite 1000 Clerk of the Court
Encino, California 91436 By: Raquel Enriquez, Deputy
Tel: (818) 382-6200 + Fax: (818) 986-6534 $435 PAID
$30 PAID
Attorneys for Petitioner
J.G. Wentworth Originations, LLC
SUPERIOR COURT OF THE STATE OF CALIFORNIA
FOR THE COUNTY OF STANISLAUS, CITY TOWERS COURTHOUSE (CIVIL)
10
i IN RE Petition of: CASE No,;CV-24-000383
12 J.G. WENTWORTH ORIGINATIONS, LLC, UNLIMITED JURISDICTION
13 Petitioner VERIFIED PETITION FOR APPROVAL
FOR TRANSFER OF PAYMENT
14 RIGHTS
15 [PURSUANT TO CAL. INS. CODE §
Oo 10134ET SEQ.]
16
DATE: February 27, 2024
17 TIME: $30 am.
DEPT:
18
19 COMES NOW J.G. Wentworth Originations, LLC (hereinafter “Petitioner” or “Transferee”)
20 by the undersigned counsel, which respectfully petitions this Court pursuant to §§ 10134 et seq. of the
21 Califomia Insurance Code, as amended, for approval of the transfer of certain structured settlement
22 payment rights, and in support hereof, states as follows: MAYNE,JOHNR
This case has been assigned to Judge
23 I Department, for all purposes including Trist
24 INTRODUCTION
25 1 This Court has jurisdiction to hear this Petition and grant the relief requested herein
26 pursuant to California Insurance Code § 10134(c)(1);
27 2 That Petitioner is a limited liability company organized to do business under the laws
28 of the State of California and brings this petition on behalf of party in interest, M. H., pursuant to
VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF PAY MENT RIGHTS
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Insurance Code §§ 10139.3(B), 10139.5(c). M. H., (hereinafter “Payee” or “Transferor”) is an adult,
who resides in STANISLAUS COUNTY, Califomia. Venue is proper in this Court pursuant to
Insurance Code § 10139.5(f)(1).
3 That in or about February 2021, Payee became entitled to certain structured settlement
payments resulting from a claim for damages arising in connection with a personal injury claim;
4. That the settlement agreed to by the Transferor provides for periodic structured
payments including, but not limited to, — See Exhibit “Art
5 That the “annuity issuer” who has issued an insurance contract used to fund the
structured settlement payments is Pacific Life Insurance Company;
10 6 That the “structured settlement obligor” with respect to the aforementioned structured
i settlement payments is Pacific Life And Annuity Services Inc;
12 7 That Transferor has agreed to sell, and Transferee, J.G. Wentworth Originations, LLC,
13 has agreed to purchase certain monthly and annual payments as referenced within their proposed
14 Purchase Agreement. A true and correct copy of the proposed Purchase A greement is attached hereto
15 as Exhibit “A” and incorporated herein by this reference;
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16 8 That in order to effectuate the transfer of the payments set forth in the Purchase
17 Agreement, Petitioner J.G. Wentworth Originations, LLC must first obtain court approval of the
18 transfer pursuant to amended Califomia Insurance Code § 10134, et seq.;
19 9 That in order for this Court to approve said transfer, certain statutory provisions as set
20 forth in California Insurance Code §§ 10134-10139.5 must be met. The applicable provisions of these
21 code sections are:
22 (A) The transferee provide the transferor with a separate written
23 disclosure statement 10 or more days prior to the effective date of a transfer
24 agreement accurately completed with the information that applies to the
25 transfer agreement as required by Cal. Ins. Code, § 10136(b) (a true and
26
27
28 1 A true and correct copy of the proposed Purchase Agreement will be supplemented as Exhibit “A” to the
Petition.
VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF PAY MENT RIGHTS
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correct copy of the separate written disclosure statement is attached hereto
as Exhibit “B” and incorporated herein by this reference);
(B) Notice of the proposed transfer and the application for its
authorization must be filed with a court of competent jurisdiction, to wit, a
court in the county in which the payee resides, see Cal. Ins. Code, §
10139.5(f)(1), and served on all interested parties pursuant to Cal. Ins.
Code, § 10139.5(f)(2); and
(1) The transfer of the structured settlement payment
rights is fair and reasonable and in the best interest of the
10 payee, taking into account the welfare and support of his or
i her dependents (Cal. Ins. Code, § 10137(a)
12 (2) The transfer complies with the requirements of Cal.
13 Ins. Code, §§ 10134 et seq., will not contravene other
14 applicable law (Cal. Ins. Code, § 10137(b), and is to be
15 approved by a court as provided in Cal. Ins. Code, § 10139.5.
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16 It is submitted that all of the foregoing requirements either have been met or will be met prior
17 to any scheduled hearing, and the Petitioner respectfully requests that this Court approve the transfer
18 of the structured settlement payments that are the subject of this Petition.
19 IL
20 REQUIREMENTS OF CALIFORNIA INSURANCE CODE § 10136(b) HAVE BEEN MET
21 @ISCLOSURE TO PAYEE)
22 Califormia Insurance Code § 10136(b) requires that at least ten days prior to the effective date
23 of the transfer agreement, the transferee shall provide the payee with a separate written disclosure
24 statement. The disclosure statement must be in at least 12-point type unless otherwise indicated and
25 accurately completed with the information that applies to the transfer agreement in a form substantially
26 similar to that set forth in California Insurance Code § 10136(b) The required separate written
27 disclosure will be supplemented as Exhibit “B”.
28
VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF PAY MENT RIGHTS
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Ti.
‘THE TRANSFER
OF THE STRUCTURED SETTLEMENT PAYMENT RIGHTS
IS FAIR
AND REASONABLE AND IN THE BEST INTEREST OF THE PAYEE
Califomia Insurance Code § 10137(a) requires that the transfer of the structured settlement
payment rights is fair and reasonable and in the best interest of the Payee, taking into account the
welfare and support of Payee’s dependents.
It is submitted that the best interest of Payee would be served by granting the relief requested
herein because the original structured settlement entered into by Payee on or about February 2021, as
evidenced by a true and correct copy of the Court docket showing Notice of Submission of
10 Confidential Settlement Statement will be supplemented to the underlying Petition as Exhibit “D” and
i was intended as compensation for a personal injury claim.
12 Payee is 41 years old, married to B. H. They have six minor children; K. S. who is 17 years
13 old, M. H. who is 12 years old, G. H. who is 8 years old, G. H. who is 7 years old, L. H. who is 3
14 years old and L. H. who is 2 years old as set forth in the declaration filed concurrently herewith.
15 Payee is currently employed earning approximately $3,750 per month. If approved, Payee will
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16 receive a certain lump sum payment from this transaction. See Exhibit “B”.? Payee feels it is in
17 their best interest to enter into this transaction with the Petitioner and sell a portion of their underlying
18 annuity payments so that they can have the financial means for home repairs and furnishings, as well
19 as living expenses as set forth in the declaration filed concurrently herewith.
20 It is submitted that the funds received from the transaction contemplated in the Purchase
21 Agreement can be better used today to provide for the foregoing, rather than to provide support to
22 Payee several years from now.
23 Payee has been advised in writing to seek independent professional advice regarding the
24 transfer and has either received that advice or knowingly waived that advice in writing. A copy of the
25 Waiver is attached hereto as Exhibit “E”.
26
27 2 A true and correct copy of the written disclosure statement will be supplemented as Exhibit “B” to the
Petition.
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3 A copy of the Waiver will be supplemented as Exhibit “E” to the Petition.
VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF PAY MENT RIGHTS
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IV.
REQUIREMENTS OF CALIFORNIA INSURANCE CODE § 10139.5()@) HAVE BEEN
MET (PROPER DOCUMENTS PRESENTED TO THIS COURT)
Califormia Insurance Code § 10139.5(f)(2) requires that a notice of the proposed transfer and
the application for its authorization be filed with the Court and served on all interested parties not less
than 20 days prior to the scheduled hearing on any petition for approval of a transfer of structured
settlement payment rights. This notice must include the following documents:
(1) A copy of the transferee’s current petition (which is this Petition) and information
regarding any other prior petition whether approved or withdrawn; that was filed with this court in
10 accordance with Califomia Insurance Code §10139.5(c)(6) (Section VI, { 7, if applicable);
i (2) A copy of the proposed transfer agreement and disclosure form required by California
12 Insurance Code §10139.5(a) (Exhibit “A”);
13 (3) A listing of each of the payee’s dependents, together with each dependent’s age (see
14 Declaration);
15 (4) A copy of the disclosure required by California Insurance Code §10136(b) (Exhibit
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16 “B”);
17 (5) A copy of the annuity contract and a copy of any qualified assignment agreement, if
18 applicable (Exhibit “C”);4
19 (6) A copy of the underlying settlement agreement, if available (a true and correct copy of
20 the court docket showing a Notice of Submission of Confidential Settlement Statement is attached
21 hereto as Exhibit “D”);°
22 (7) Proof of Service showing compliance with the notification requirements of this sections
23 (Proof of Service to be filed after a hearing date and case number is obtained);
24
25
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* A true and correct copy of the annuity contract and a copy of any qualified assignment agreement, if
applicable, will be supplemented as Exhibit “C” to the Petition.
27 5 The settlement agreement appears to be confidential per the court docket attached as Exhibit D. As
aresult, it is not being attached as an exhibit to this Petition. A true and correct copy of the court docket
28 showing a Notice of Submission of Confidential Settlement Statement will be supplemented as Exhibit
“D” to the Petition.
VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF PAY MENT RIGHTS
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(8) Notification that any interested party is entitled to support, oppose, or otherwise
respond to the transferee’s application, either in person or by counsel, by submitting written comments
to the Court or by participating in the hearing;
(9) 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 application must be filed, which may not be less than
15 days after service of the transferee’s notice, in order to be considered by the Court; and
(10) If the payee entered into the structured settlement at issue within five years prior to the
date of the transfer agreement, then the transferee shall provide notice to the payee's attomey of record
at the time the structured settlement was created;
10 Vv.
i REQUIREMENTS OF CALIFORNIA INSURANCE CODE § 10139.5(h) HAVE BEEN MET
12 (ADVISORY STATEMENT TO PAYEE OF RIGHT TO SEEK INDEPENDENT COUNSEL
13 AND FINANCIAL ADVICE IN CONNECTION WITH TRANSFER)
14 California Insurance Code § 10139.5(h) requires that no later than the time of filing of the
15 Petition for court approval, the Transferee shall advise the payee of the payee’s right to seek
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16 independent counsel and financial advice in connection with the Transferee’s petition for court
17 approval of the transfer agreement, and that the Transferee shall further advise the payee that if the
18 payee retains counsel, a licensed certified public accountant, or a licensed actuary in connection with
19 a petition for an order approving the transfer agreement, then the Transferee shall pay the fees of the
20 payee’s counsel, accountant, or actuary, regardless of whether the transfer agreement is approved, and
21 regardless of whether the attorney, accountant, or actuary files any document or appears at the hearing
22 on the application for transfer, in an aggregate amount not to exceed one thousand five hundred dollars
23 ($1,500). Further, that such advice may not be provided by an accountant, counsel, or actuary of the
24 Transferee (Exhibit “B”).
25 It is submitted to this Court that this Petition, the Notice of Petition attached hereto, and the
26 advisory statement provided to the payee all comply with and satisfy the requirements of California
27 Insurance Code § 10139.5.
28
VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF PAY MENT RIGHTS
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VI
ADDITIONAL FACTORS PROMOTE THE GRANTING OF THIS PETITION
As of January 1, 2010, California Insurance Code section 10139.5 was amended to give the
Court additional factors to consider in determining whether to grant a Petition. As already set forth
above oras now set forth below, this Petition will either address those requirements that are applicable
and how such requirements support the granting of the Petition or that such additional considerations
do not apply.
1 Payee’s Financial Condition:
Payee is currently employed eaming approximately $3,750 per month.
10 2 Whether the Payee is transferring Monthly or Lump Sum or All or a Portion of the
i Future Payments:
12 Payee is certain monthly life-contingent payments. See Exhibit “A”. There are no
13 future payments. Payee will be receiving a certain lump sum payment from this transaction. See
14 Exhibit “B”.
15 3. Whether when the settlement was completed, the future periodic payment(s) that are
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16 the subject of the proposed transfer were intended to pay for the future medical care and treatment of
17 the payee relating to injuries sustained by the payee in the incident that was the subject of the
18 settlement and whether the payee still needs those future payments to pay for that future care and
19 treatment.
20 The future periodic payment(s) that are the subject of the proposed transfer were not
21 intended to pay for the future medical care and treatment.
22 4. Whether when the settlement was completed, the future periodic payment(s) that are
23 the subject of the proposed transfer were intended to provide for the necessary living expenses of the
24 payee and whether the payee still needs the future structured settlement payments to pay for future
25 necessary living expenses
26 The future periodic payment(s) that are the subject of the proposed transfer were not
27 intended to provide for necessary living expenses.
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VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF PAY MENT RIGHTS
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5 Whether the payee is, at the time of the proposed transfer, likely to require future
medical care and treatment for the injuries that the payee sustained in connection with the incident that
was the subject of the settlement and whether the payee lacks other resources, including insurance
sufficient to cover those future medical expenses.
The future periodic payment(s) that are the subject of the proposed transfer were not
intended to provide for medical care and treatment.
6 Whether the payee has other means of income or support, aside from the structured
settlement payments that are the subject of the proposed transfer, sufficient to meet the payee’s future
financial obligations for maintenance and support of the payee’s dependents, specifically including,
10 but not limited to, the payee’s child support obligations, if any. The payee shall disclose to the
i transferee and the court Payee’s court-ordered child support or maintenance obligations for the court’s
12 considerations.
13 Payee is currently employed earning approximately $3,750 per month. Payee has no
14 court-ordered child support or maintenance obligations.
15 7 Whether the payee completed previous transactions involving the payee’s structured
16 settlement payments and the timing and size of the previous transactions and whether the payee was
17 satisfied with any previous transaction.
18 Payee has completed previous transactions involving the payee’s structured settlement
19 payments.®
20 8 Whether the transferee attempted previous transactions involving the payee’s
21 structured settlement payments that were denied, or that were dismissed or withdrawn prior to a
22 decision on the merits, within the past five years.
23 Payee has not attempted previous transactions involving the payee’s structured
24 settlement payments that were denied, or that were dismissed or withdrawn.
25
26
® In June 2023, a petition was granted for Payee transferring monthly payments beginning on August 1,
27 2023 through and including October 1, 2029.
In October 2023, a petition was granted for Payee transferring monthly payments beginning on beginning
28
on October 1, 2023 through and including January 1, 2032.
VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF PAY MENT RIGHTS
2423387.1 - 30464.6946
9 Whether, to the best of the transferee’s knowledge after making inquiry with the payee,
the payee has attempted structured settlement payment transfer transactions with another person or
entity, other than the transferee, that were denied, or which were dismissed or withdrawn prior to a
decision on the merits, within the past five years.
Not applicable. See question No. 8 above.
10. Whether the payee, or his family or dependents, are in or are facing a hardship situation.
Payee is facing a hardship situation. Payee would like to enter into this transaction
with the Petitioner and sell a portion of their underlying annuity payments so that they can have the
financial means for home repairs and furnishings, as well as living expenses.
10 11. Whether the payee received independent legal or financial advice regarding the
i transaction.
12 Payee has been advised in writing to seek independent professional advice regarding
13 the transfer and has either received that advice or knowingly waived that advice in writing. A copy of
14 the Waiver will be supplemented to the petition as Exhibit “E”.
15 VIL
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16 REQUIREMENTS OF CALIFORNIA INSURANCE CODE §§ 10134@), 10136@), 101360)
17 AND 10136(b) HAVE BEEN MET (AUTHORITY TO ASSESS
AND DEDUCT EXPENSES
18 FROM PURCHASE PRICE)
19 “Expenses” are defined under section 10134(e) of the California Insurance Code as:
20 “.. [A]ll broker’s commissions, service charges, application or processing
21 fees, closing costs, filing or administrative charges, legal fees, notary fees
22 and other commissions, fees, costs, and charges that a payee would have to
23 pay to transfer the structured settlement payment rights of a structured
24 settlement agreement or that would be deducted from the gross
25 consideration that would be paid to the payee in connection with the transfer
26 of the structured settlement payment rights of a structured settlement
27 agreement.”
28
VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF PAY MENT RIGHTS
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A transferee may deduct “expenses” from the gross purchase price to be paid to a payee. To
do so: “The aggregate amount of all expenses, if any, to be deducted from the purchase price to be
paid to the payee in exchange for the payments to be transferred, and an itemization of all expenses
by type and amount” must be set forth “clear and conspicuously, and in no less than 12-point type.”
(See Cal. Ins. Code, §§ 10136(c) and 10136(c)(4).)
Moreover, 10136(b) described how to “clear and conspicuously” set forth “expenses:
“Ten or more days before the payee executes a transfer agreement, the transferee
shall provide the payee with a separate written disclosure statement, accurately
completed with the information that applies to the transfer agreement. . . in at least
10 12-point type unless otherwise indicated . . . [Further] “To figure the net amount
i we are paying, we have charged you for the following expenses: (itemize in a list
12 by type and amount) for a total of $ in expenses.” (emphasis added)
13 In the case pending before this Court, all “expenses” to be deducted from the purchase price
14 are itemized by type and amount in 14-point bold font in the separate written disclosure attached hereto
15 as Exhibit “B” and are also set forth in 14-point bold font in the Purchase A greement attached hereto
16 as Exhibit “A”. Both Exhibits “A” and “B” are incorporated herein by reference. The “types” of
17 expenses itemized in both Exhibits “A” and “B” are based on the definitions of expenses set forth in
18 section 10134(e).
19 Exhibit “B”, the disclosure statement, was provided to the payee in compliance with the
20 requirements of California Insurance Code § 10136, and the payee has also acknowledged the
21 deduction of the expenses.
22 Vill.
23 “FILING AND RELATED EXPENSES” ARE NOT “COURT COSTS AND FILING FEES”
24 AS DESCRIBED IN SECTION 10139.5q@ OF THE CALIFORNIA INSURANCE CODE
25 Section 10139.5(g) of the California Insurance Code provides that: “All court costs and filing
26 fees shall be paid by the transferee”. All court costs and filing fees related to the filing of the instant
27 Petition have been paid by the transferee and are not being deducted from the gross purchase price.
28
VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF PAY MENT RIGHTS
2423387.1 - 30464.6946
IX.
CONCLUSION
Petitioner respectfully requests that upon fulfillment of all disclosures and notices set forth
under California Insurance Code §§ 10134, et seq., this Court enter an Order approving the transfer
agreement attached hereto as Exhibit “A” by and between Transferor, and Transferee.
Dated: January 11, 2024 G&B LAW, LLP
AtJ.G.\W
1
FELTON
's for Petitioner
entworth Originations, LLC
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VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF PAYMENT RIGHTS
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Transfer of Structured Settlement Payments: M. H.
Verification
I, Michael Rodden, Vice President of J.G. Wentworth Originations, LLC, am familiar
with the contracts utilized and the procedures adhered to in the course of transferring structured
settlement benefits, and I hereby verify that all of the conditions of Section 10136, 10137 and
10138 of the law governing the transfer of structured settlement payments (Chapter 624) have
been complied with.
I declare under penalty of perjury pursuant to the laws of the State of California that the
foregoing is true and correct. Executed January 12, 2024.
Michael Rodden
EXHIBITS
TO BE PROVIDED
Preview
Electronically Filed JAMES R. FELTON, ESQ. (State Bar No. 138767) 1/16/2024 10:08 AM jfelton@ gblawllp.com Superior Court of California G&B LAW, LLP County of Stanislaus 16000 Ventura Boulevard, Suite 1000 Clerk of the Court Encino, California 91436 By: Raquel Enriquez, Deputy Tel: (818) 382-6200 + Fax: (818) 986-6534 $435 PAID $30 PAID Attorneys for Petitioner J.G. Wentworth Originations, LLC SUPERIOR COURT OF THE STATE OF CALIFORNIA FOR THE COUNTY OF STANISLAUS, CITY TOWERS COURTHOUSE (CIVIL) 10 i IN RE Petition of: CASE No,;CV-24-000383 12 J.G. WENTWORTH ORIGINATIONS, LLC, UNLIMITED JURISDICTION 13 Petitioner VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF PAYMENT 14 RIGHTS 15 [PURSUANT TO CAL. INS. CODE § Oo 10134ET SEQ.] 16 DATE: February 27, 2024 17 TIME: $30 am. DEPT: 18 19 COMES NOW J.G. Wentworth Originations, LLC (hereinafter “Petitioner” or “Transferee”) 20 by the undersigned counsel, which respectfully petitions this Court pursuant to §§ 10134 et seq. of the 21 Califomia Insurance Code, as amended, for approval of the transfer of certain structured settlement 22 payment rights, and in support hereof, states as follows: MAYNE,JOHNR This case has been assigned to Judge 23 I Department, for all purposes including Trist 24 INTRODUCTION 25 1 This Court has jurisdiction to hear this Petition and grant the relief requested herein 26 pursuant to California Insurance Code § 10134(c)(1); 27 2 That Petitioner is a limited liability company organized to do business under the laws 28 of the State of California and brings this petition on behalf of party in interest, M. H., pursuant to VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF PAY MENT RIGHTS 2423387.1 - 30464.6946 Insurance Code §§ 10139.3(B), 10139.5(c). M. H., (hereinafter “Payee” or “Transferor”) is an adult, who resides in STANISLAUS COUNTY, Califomia. Venue is proper in this Court pursuant to Insurance Code § 10139.5(f)(1). 3 That in or about February 2021, Payee became entitled to certain structured settlement payments resulting from a claim for damages arising in connection with a personal injury claim; 4. That the settlement agreed to by the Transferor provides for periodic structured payments including, but not limited to, — See Exhibit “Art 5 That the “annuity issuer” who has issued an insurance contract used to fund the structured settlement payments is Pacific Life Insurance Company; 10 6 That the “structured settlement obligor” with respect to the aforementioned structured i settlement payments is Pacific Life And Annuity Services Inc; 12 7 That Transferor has agreed to sell, and Transferee, J.G. Wentworth Originations, LLC, 13 has agreed to purchase certain monthly and annual payments as referenced within their proposed 14 Purchase Agreement. A true and correct copy of the proposed Purchase A greement is attached hereto 15 as Exhibit “A” and incorporated herein by this reference; Oo 16 8 That in order to effectuate the transfer of the payments set forth in the Purchase 17 Agreement, Petitioner J.G. Wentworth Originations, LLC must first obtain court approval of the 18 transfer pursuant to amended Califomia Insurance Code § 10134, et seq.; 19 9 That in order for this Court to approve said transfer, certain statutory provisions as set 20 forth in California Insurance Code §§ 10134-10139.5 must be met. The applicable provisions of these 21 code sections are: 22 (A) The transferee provide the transferor with a separate written 23 disclosure statement 10 or more days prior to the effective date of a transfer 24 agreement accurately completed with the information that applies to the 25 transfer agreement as required by Cal. Ins. Code, § 10136(b) (a true and 26 27 28 1 A true and correct copy of the proposed Purchase Agreement will be supplemented as Exhibit “A” to the Petition. VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF PAY MENT RIGHTS 2423387.1 - 30464.6946 correct copy of the separate written disclosure statement is attached hereto as Exhibit “B” and incorporated herein by this reference); (B) Notice of the proposed transfer and the application for its authorization must be filed with a court of competent jurisdiction, to wit, a court in the county in which the payee resides, see Cal. Ins. Code, § 10139.5(f)(1), and served on all interested parties pursuant to Cal. Ins. Code, § 10139.5(f)(2); and (1) The transfer of the structured settlement payment rights is fair and reasonable and in the best interest of the 10 payee, taking into account the welfare and support of his or i her dependents (Cal. Ins. Code, § 10137(a) 12 (2) The transfer complies with the requirements of Cal. 13 Ins. Code, §§ 10134 et seq., will not contravene other 14 applicable law (Cal. Ins. Code, § 10137(b), and is to be 15 approved by a court as provided in Cal. Ins. Code, § 10139.5. Oo 16 It is submitted that all of the foregoing requirements either have been met or will be met prior 17 to any scheduled hearing, and the Petitioner respectfully requests that this Court approve the transfer 18 of the structured settlement payments that are the subject of this Petition. 19 IL 20 REQUIREMENTS OF CALIFORNIA INSURANCE CODE § 10136(b) HAVE BEEN MET 21 @ISCLOSURE TO PAYEE) 22 Califormia Insurance Code § 10136(b) requires that at least ten days prior to the effective date 23 of the transfer agreement, the transferee shall provide the payee with a separate written disclosure 24 statement. The disclosure statement must be in at least 12-point type unless otherwise indicated and 25 accurately completed with the information that applies to the transfer agreement in a form substantially 26 similar to that set forth in California Insurance Code § 10136(b) The required separate written 27 disclosure will be supplemented as Exhibit “B”. 28 VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF PAY MENT RIGHTS 2423387.1 - 30464.6946 Ti. ‘THE TRANSFER OF THE STRUCTURED SETTLEMENT PAYMENT RIGHTS IS FAIR AND REASONABLE AND IN THE BEST INTEREST OF THE PAYEE Califomia Insurance Code § 10137(a) requires that the transfer of the structured settlement payment rights is fair and reasonable and in the best interest of the Payee, taking into account the welfare and support of Payee’s dependents. It is submitted that the best interest of Payee would be served by granting the relief requested herein because the original structured settlement entered into by Payee on or about February 2021, as evidenced by a true and correct copy of the Court docket showing Notice of Submission of 10 Confidential Settlement Statement will be supplemented to the underlying Petition as Exhibit “D” and i was intended as compensation for a personal injury claim. 12 Payee is 41 years old, married to B. H. They have six minor children; K. S. who is 17 years 13 old, M. H. who is 12 years old, G. H. who is 8 years old, G. H. who is 7 years old, L. H. who is 3 14 years old and L. H. who is 2 years old as set forth in the declaration filed concurrently herewith. 15 Payee is currently employed earning approximately $3,750 per month. If approved, Payee will Oo 16 receive a certain lump sum payment from this transaction. See Exhibit “B”.? Payee feels it is in 17 their best interest to enter into this transaction with the Petitioner and sell a portion of their underlying 18 annuity payments so that they can have the financial means for home repairs and furnishings, as well 19 as living expenses as set forth in the declaration filed concurrently herewith. 20 It is submitted that the funds received from the transaction contemplated in the Purchase 21 Agreement can be better used today to provide for the foregoing, rather than to provide support to 22 Payee several years from now. 23 Payee has been advised in writing to seek independent professional advice regarding the 24 transfer and has either received that advice or knowingly waived that advice in writing. A copy of the 25 Waiver is attached hereto as Exhibit “E”. 26 27 2 A true and correct copy of the written disclosure statement will be supplemented as Exhibit “B” to the Petition. 28 3 A copy of the Waiver will be supplemented as Exhibit “E” to the Petition. VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF PAY MENT RIGHTS 2423387.1 - 30464.6946 IV. REQUIREMENTS OF CALIFORNIA INSURANCE CODE § 10139.5()@) HAVE BEEN MET (PROPER DOCUMENTS PRESENTED TO THIS COURT) Califormia Insurance Code § 10139.5(f)(2) requires that a notice of the proposed transfer and the application for its authorization be filed with the Court and served on all interested parties not less than 20 days prior to the scheduled hearing on any petition for approval of a transfer of structured settlement payment rights. This notice must include the following documents: (1) A copy of the transferee’s current petition (which is this Petition) and information regarding any other prior petition whether approved or withdrawn; that was filed with this court in 10 accordance with Califomia Insurance Code §10139.5(c)(6) (Section VI, { 7, if applicable); i (2) A copy of the proposed transfer agreement and disclosure form required by California 12 Insurance Code §10139.5(a) (Exhibit “A”); 13 (3) A listing of each of the payee’s dependents, together with each dependent’s age (see 14 Declaration); 15 (4) A copy of the disclosure required by California Insurance Code §10136(b) (Exhibit Oo 16 “B”); 17 (5) A copy of the annuity contract and a copy of any qualified assignment agreement, if 18 applicable (Exhibit “C”);4 19 (6) A copy of the underlying settlement agreement, if available (a true and correct copy of 20 the court docket showing a Notice of Submission of Confidential Settlement Statement is attached 21 hereto as Exhibit “D”);° 22 (7) Proof of Service showing compliance with the notification requirements of this sections 23 (Proof of Service to be filed after a hearing date and case number is obtained); 24 25 26 * A true and correct copy of the annuity contract and a copy of any qualified assignment agreement, if applicable, will be supplemented as Exhibit “C” to the Petition. 27 5 The settlement agreement appears to be confidential per the court docket attached as Exhibit D. As aresult, it is not being attached as an exhibit to this Petition. A true and correct copy of the court docket 28 showing a Notice of Submission of Confidential Settlement Statement will be supplemented as Exhibit “D” to the Petition. VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF PAY MENT RIGHTS 2423387.1 - 30464.6946 (8) Notification that any interested party is entitled to support, oppose, or otherwise respond to the transferee’s application, either in person or by counsel, by submitting written comments to the Court or by participating in the hearing; (9) 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 application must be filed, which may not be less than 15 days after service of the transferee’s notice, in order to be considered by the Court; and (10) If the payee entered into the structured settlement at issue within five years prior to the date of the transfer agreement, then the transferee shall provide notice to the payee's attomey of record at the time the structured settlement was created; 10 Vv. i REQUIREMENTS OF CALIFORNIA INSURANCE CODE § 10139.5(h) HAVE BEEN MET 12 (ADVISORY STATEMENT TO PAYEE OF RIGHT TO SEEK INDEPENDENT COUNSEL 13 AND FINANCIAL ADVICE IN CONNECTION WITH TRANSFER) 14 California Insurance Code § 10139.5(h) requires that no later than the time of filing of the 15 Petition for court approval, the Transferee shall advise the payee of the payee’s right to seek Oo 16 independent counsel and financial advice in connection with the Transferee’s petition for court 17 approval of the transfer agreement, and that the Transferee shall further advise the payee that if the 18 payee retains counsel, a licensed certified public accountant, or a licensed actuary in connection with 19 a petition for an order approving the transfer agreement, then the Transferee shall pay the fees of the 20 payee’s counsel, accountant, or actuary, regardless of whether the transfer agreement is approved, and 21 regardless of whether the attorney, accountant, or actuary files any document or appears at the hearing 22 on the application for transfer, in an aggregate amount not to exceed one thousand five hundred dollars 23 ($1,500). Further, that such advice may not be provided by an accountant, counsel, or actuary of the 24 Transferee (Exhibit “B”). 25 It is submitted to this Court that this Petition, the Notice of Petition attached hereto, and the 26 advisory statement provided to the payee all comply with and satisfy the requirements of California 27 Insurance Code § 10139.5. 28 VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF PAY MENT RIGHTS 2423387.1 - 30464.6946 VI ADDITIONAL FACTORS PROMOTE THE GRANTING OF THIS PETITION As of January 1, 2010, California Insurance Code section 10139.5 was amended to give the Court additional factors to consider in determining whether to grant a Petition. As already set forth above oras now set forth below, this Petition will either address those requirements that are applicable and how such requirements support the granting of the Petition or that such additional considerations do not apply. 1 Payee’s Financial Condition: Payee is currently employed eaming approximately $3,750 per month. 10 2 Whether the Payee is transferring Monthly or Lump Sum or All or a Portion of the i Future Payments: 12 Payee is certain monthly life-contingent payments. See Exhibit “A”. There are no 13 future payments. Payee will be receiving a certain lump sum payment from this transaction. See 14 Exhibit “B”. 15 3. Whether when the settlement was completed, the future periodic payment(s) that are Oo 16 the subject of the proposed transfer were intended to pay for the future medical care and treatment of 17 the payee relating to injuries sustained by the payee in the incident that was the subject of the 18 settlement and whether the payee still needs those future payments to pay for that future care and 19 treatment. 20 The future periodic payment(s) that are the subject of the proposed transfer were not 21 intended to pay for the future medical care and treatment. 22 4. Whether when the settlement was completed, the future periodic payment(s) that are 23 the subject of the proposed transfer were intended to provide for the necessary living expenses of the 24 payee and whether the payee still needs the future structured settlement payments to pay for future 25 necessary living expenses 26 The future periodic payment(s) that are the subject of the proposed transfer were not 27 intended to provide for necessary living expenses. 28 VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF PAY MENT RIGHTS 2423387.1 - 30464.6946 5 Whether the payee is, at the time of the proposed transfer, likely to require future medical care and treatment for the injuries that the payee sustained in connection with the incident that was the subject of the settlement and whether the payee lacks other resources, including insurance sufficient to cover those future medical expenses. The future periodic payment(s) that are the subject of the proposed transfer were not intended to provide for medical care and treatment. 6 Whether the payee has other means of income or support, aside from the structured settlement payments that are the subject of the proposed transfer, sufficient to meet the payee’s future financial obligations for maintenance and support of the payee’s dependents, specifically including, 10 but not limited to, the payee’s child support obligations, if any. The payee shall disclose to the i transferee and the court Payee’s court-ordered child support or maintenance obligations for the court’s 12 considerations. 13 Payee is currently employed earning approximately $3,750 per month. Payee has no 14 court-ordered child support or maintenance obligations. 15 7 Whether the payee completed previous transactions involving the payee’s structured 16 settlement payments and the timing and size of the previous transactions and whether the payee was 17 satisfied with any previous transaction. 18 Payee has completed previous transactions involving the payee’s structured settlement 19 payments.® 20 8 Whether the transferee attempted previous transactions involving the payee’s 21 structured settlement payments that were denied, or that were dismissed or withdrawn prior to a 22 decision on the merits, within the past five years. 23 Payee has not attempted previous transactions involving the payee’s structured 24 settlement payments that were denied, or that were dismissed or withdrawn. 25 26 ® In June 2023, a petition was granted for Payee transferring monthly payments beginning on August 1, 27 2023 through and including October 1, 2029. In October 2023, a petition was granted for Payee transferring monthly payments beginning on beginning 28 on October 1, 2023 through and including January 1, 2032. VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF PAY MENT RIGHTS 2423387.1 - 30464.6946 9 Whether, to the best of the transferee’s knowledge after making inquiry with the payee, the payee has attempted structured settlement payment transfer transactions with another person or entity, other than the transferee, that were denied, or which were dismissed or withdrawn prior to a decision on the merits, within the past five years. Not applicable. See question No. 8 above. 10. Whether the payee, or his family or dependents, are in or are facing a hardship situation. Payee is facing a hardship situation. Payee would like to enter into this transaction with the Petitioner and sell a portion of their underlying annuity payments so that they can have the financial means for home repairs and furnishings, as well as living expenses. 10 11. Whether the payee received independent legal or financial advice regarding the i transaction. 12 Payee has been advised in writing to seek independent professional advice regarding 13 the transfer and has either received that advice or knowingly waived that advice in writing. A copy of 14 the Waiver will be supplemented to the petition as Exhibit “E”. 15 VIL Oo 16 REQUIREMENTS OF CALIFORNIA INSURANCE CODE §§ 10134@), 10136@), 101360) 17 AND 10136(b) HAVE BEEN MET (AUTHORITY TO ASSESS AND DEDUCT EXPENSES 18 FROM PURCHASE PRICE) 19 “Expenses” are defined under section 10134(e) of the California Insurance Code as: 20 “.. [A]ll broker’s commissions, service charges, application or processing 21 fees, closing costs, filing or administrative charges, legal fees, notary fees 22 and other commissions, fees, costs, and charges that a payee would have to 23 pay to transfer the structured settlement payment rights of a structured 24 settlement agreement or that would be deducted from the gross 25 consideration that would be paid to the payee in connection with the transfer 26 of the structured settlement payment rights of a structured settlement 27 agreement.” 28 VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF PAY MENT RIGHTS 2423387.1 - 30464.6946 A transferee may deduct “expenses” from the gross purchase price to be paid to a payee. To do so: “The aggregate amount of all expenses, if any, to be deducted from the purchase price to be paid to the payee in exchange for the payments to be transferred, and an itemization of all expenses by type and amount” must be set forth “clear and conspicuously, and in no less than 12-point type.” (See Cal. Ins. Code, §§ 10136(c) and 10136(c)(4).) Moreover, 10136(b) described how to “clear and conspicuously” set forth “expenses: “Ten or more days before the payee executes a transfer agreement, the transferee shall provide the payee with a separate written disclosure statement, accurately completed with the information that applies to the transfer agreement. . . in at least 10 12-point type unless otherwise indicated . . . [Further] “To figure the net amount i we are paying, we have charged you for the following expenses: (itemize in a list 12 by type and amount) for a total of $ in expenses.” (emphasis added) 13 In the case pending before this Court, all “expenses” to be deducted from the purchase price 14 are itemized by type and amount in 14-point bold font in the separate written disclosure attached hereto 15 as Exhibit “B” and are also set forth in 14-point bold font in the Purchase A greement attached hereto 16 as Exhibit “A”. Both Exhibits “A” and “B” are incorporated herein by reference. The “types” of 17 expenses itemized in both Exhibits “A” and “B” are based on the definitions of expenses set forth in 18 section 10134(e). 19 Exhibit “B”, the disclosure statement, was provided to the payee in compliance with the 20 requirements of California Insurance Code § 10136, and the payee has also acknowledged the 21 deduction of the expenses. 22 Vill. 23 “FILING AND RELATED EXPENSES” ARE NOT “COURT COSTS AND FILING FEES” 24 AS DESCRIBED IN SECTION 10139.5q@ OF THE CALIFORNIA INSURANCE CODE 25 Section 10139.5(g) of the California Insurance Code provides that: “All court costs and filing 26 fees shall be paid by the transferee”. All court costs and filing fees related to the filing of the instant 27 Petition have been paid by the transferee and are not being deducted from the gross purchase price. 28 VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF PAY MENT RIGHTS 2423387.1 - 30464.6946 IX. CONCLUSION Petitioner respectfully requests that upon fulfillment of all disclosures and notices set forth under California Insurance Code §§ 10134, et seq., this Court enter an Order approving the transfer agreement attached hereto as Exhibit “A” by and between Transferor, and Transferee. Dated: January 11, 2024 G&B LAW, LLP AtJ.G.\W 1 FELTON 's for Petitioner entworth Originations, LLC 10 11 12 13 14 oO & 15 16 17 18 19 20 21 22 23 24 25 26 27 28 VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF PAYMENT RIGHTS 2423387.1 - 30464 6946 Transfer of Structured Settlement Payments: M. H. Verification I, Michael Rodden, Vice President of J.G. Wentworth Originations, LLC, am familiar with the contracts utilized and the procedures adhered to in the course of transferring structured settlement benefits, and I hereby verify that all of the conditions of Section 10136, 10137 and 10138 of the law governing the transfer of structured settlement payments (Chapter 624) have been complied with. I declare under penalty of perjury pursuant to the laws of the State of California that the foregoing is true and correct. Executed January 12, 2024. Michael Rodden EXHIBITS TO BE PROVIDED