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1 CHRISTOPHER R. MILTON. ESQ. State Bar No. 220361
EVAN S. CHAIT. ESQ. State Bar No. 292133
2 SANPREET GILL. ESQ. State Bar No. 303553
Attorneys at Law
3 2626 Foothill Blvd. Ste. 200
La Crescenta, CA 91214
4 Telephone: (800) 449-6311
Facsimile: (800) 922-6312
5
Attorneys for Petitioner
6
7
8
THE SUPERIOR COURT OF THE STATE OF CALIFORNIA
9
FOR THE COUNTY OF MONTEREY
10
11
APOLLO MATHERS, LLC ) Case No.: ________________
12 )
) PETITION FOR APPROVAL FOR
13 ) TRANSFER OF STRUCTURED
) SETTLEMENT PAYMENT RIGHTS
14 VS. )
) [CAL. INS. CODE § 10139.5 (2010)]
15 )
) Hearing Date: ________
16 ) Hearing Time: ________
) Hearing Dept.: ________
17 CERTAIN STATUTORY INTERESTED )
PARTIES AS DEFINED BY CAL. INS. )
18 CODE 10134(G) )
19
20 Comes now Apollo Mathers, LLC, by undersigned counsel which respectfully
21 petitions this Court pursuant to §§10134 et seq. of the California Insurance Code, as
22 amended, for approval of the transfer of certain structured settlement payment rights,
23 and in support hereof, states as follows:
24
25 1. Petitioner, Apollo Mathers, LLC is a California Limited Liability Company
26 doing business in the State of California.
27
28
PETITION FOR APPROVAL FOR TRANSFER OF STRUCTURED SETTLEMENT
PAYMENT RIGHTS
[CAL. INS. CODE § 10139.5 (2010)]
1
1 2. Transferor, hereinafter referred to as the Payee, is a statutory interested
2 party in the present matter. Petitioner is informed and believes and upon that basis
3 alleges that Payee is a resident of Monterey County, California.
4 3. The Obligor, an insurance company authorized to do business in the State
5 of California, is the Structured Settlement Obligor, as defined by Cal. Ins. Code §
6 10134(k), which has a continuing periodic payment obligation to the Payee under a
7 structured settlement agreement or a qualified assignment agreement.
8 4. The Issuer, an insurance company authorized to do business in the State
9 of California, has issued an insurance contract used to fund the structured settlement
10 payment obligations of the Obligor.
11 5. This Court has subject matter jurisdiction over the instant action pursuant
12 to Cal. Ins. Code § 10135(c) as either (1) the payee was domiciled in California at the
13 time the transfer agreement was signed by the Payee, or (2) the payee was not
14 domiciled in California at the time the transfer agreement was signed and the state
15 where the payee was domiciled does not have a structured settlement transfer statute,
16 but either the Obligor or the Annuity Issuer is domiciled in California.
17 6. Payee entered into an agreement for the settlement of a claim for
18 damages arising in connection with a wrongful death claim;
19 7. Petitioner is informed and believes and upon that basis alleges that the
20 underlying structured settlement that established the annuity at issue in the present
21 case contained language that restricted and/or prohibited the right and/or power to
22 assign the Assigned Payments in question. Notwithstanding such language, where no
23 interested parties object to the transfer of structured settlement payment rights, the anti-
24 assignment provisions in an annuity contract, settlement agreement, or other related
25 contracts do not bar court-approved transfers of structured settlement payments. 321
26 Henderson Receivables Origination LLC v. Sioteco, 93 Cal. Rptr. 3d 321, 334 (Cal. Ct.
27 App. 2009);
28
PETITION FOR APPROVAL FOR TRANSFER OF STRUCTURED SETTLEMENT
PAYMENT RIGHTS
[CAL. INS. CODE § 10139.5 (2010)]
2
1 8. The settlement agreed to by the Transferor provides for certain lump sum
2 and periodic structured payments, including but not limited to the payments that are the
3 subject of this Petition;
4 9. Payee has agreed to sell, and Transferee, Apollo Mathers, LLC, has
5 agreed to purchase monthly payments and/or certain lump sum payments, as
6 referenced within their proposed Transfer Agreement. A true and correct copy of the
7 proposed Transfer Agreement will be filed subsequently hereto.
8 10. Apollo Mathers, LLC, shall, upon this Court entering an Order approving
9 the Transfer Agreement, assign all its right, title and interest in and to the said proposed
10 Transfer Agreement to its assignee, to be designated at the time of the hearing on the
11 present matter.
12 11. Pursuant to Cal. Ins. Code § 10137(a)(1) and Cal. Ins. Code §
13 10139.5(a)(1) as well as 26 USC § 5891(b)(2)(A)(ii), Petitioner alleges that that transfer
14 of structured settlement payment rights in the present matter is fair and reasonable and
15 in the best interests of the Payee, taking into account the welfare and support of the
16 Payee's dependents, if any.
17 12. Pursuant to Cal. Ins. Code §§ 10137(b) and 10139.5(a)(4) as well as 26
18 USC § 5891(b)(2)(A)(i), Petitioner alleges that the transfer complies with the
19 requirements of Cal. Ins. Code § 10134, et seq., and will not contravene other
20 applicable law, does not contravene any applicable statute or the order of any court or
21 other government authority, and does not contravene any Federal or State statute or the
22 order of any court or responsible administrative authority.
23 13. Pursuant to Cal. Ins. Code § 10139.5(a)(2), Petitioner alleges that the
24 Payee has been advised in writing by the transferee to seek independent professional
25 advice regarding the transfer and has either received that advice or knowingly, in
26 writing, waived the opportunity to receive the advice.
27 14. Pursuant to Cal. Ins. Code § 10139.5(a)(3), the Petitioner has complied, or
28 will comply at the time of the hearing, with the notification requirements of Cal. Ins.
PETITION FOR APPROVAL FOR TRANSFER OF STRUCTURED SETTLEMENT
PAYMENT RIGHTS
[CAL. INS. CODE § 10139.5 (2010)]
3
1 Code § 10139.5(f)(2) and the Petitioner (or its predecessor) has provided the Payee
2 with a disclosure statement that complies with Cal. Ins. Code § 10136(b) and the
3 transfer agreement complies with Cal. Ins. Code §§ 10136(c) and 10138.
4 15. Pursuant to Cal. Ins. Code § 10139.5(a)(5), the Payee understands the
5 terms of the transfer agreement, including the terms set forth in the disclosure
6 statement required by Cal. Ins. Code § 10136(b).
7 16. Pursuant to Cal. Ins. Code § 10139.5(a)(6), the Payee understands and
8 does not wish to exercise the Payee's right to cancel the transfer agreement.
9 17. Pursuant to Cal. Ins. Code § 10139.5(f) the following documents shall be
10 served along with a copy of this Petition and Notice of Hearing:
11 A. A copy of the transferee's current petition and any other prior
12 petition, whether approved or withdrawn, that was filed with the court in
13 accordance with Cal. Ins. Code § 10139.5(c)(6). See Declaration of Factoring
14 Company Representative to be filed subsequently hereto in this matter.
15 B. A copy of the proposed transfer agreement and disclosure
16 statement required by Cal. Ins. Code § 10136(b).
17 C. A listing of each of the payee's dependents, together with each
18 dependent's age.
19 D. A copy of the annuity contract, if available. See declaration of
20 Factoring Company Representative to be filed subsequently hereto in this matter.
21 E. A copy of the qualified assignment agreement, if available. See
22 declaration of Factoring Company Representative to be filed subsequently hereto
23 in this matter.
24 F. A copy of the underlying structured settlement agreement, if
25 available. See declaration of Factoring Company Representative to be filed
26 subsequently hereto in this matter.
27 18. It is submitted that all of the foregoing requirements either have been met
28 or will be met prior to any scheduled hearing, and the Petitioner respectfully requests
PETITION FOR APPROVAL FOR TRANSFER OF STRUCTURED SETTLEMENT
PAYMENT RIGHTS
[CAL. INS. CODE § 10139.5 (2010)]
4
1 that this Court approve the transfer of the structured settlement payments that are the
2 subject of this Petition.
3 19. California Insurance Code section 10139.5(h) requires that no later than
4 the time of filing of the Petition for court approval, the Transferee shall advise the Payee
5 of the payee's right to seek independent counsel and financial advice in connection with
6 the transferee's petition for court approval of the transfer agreement, and that the
7 transferee shall further advise the payee that if the payee retains counsel, a licensed
8 certified public accountant, or a licensed actuary in connection with a petition for an
9 order approving the transfer agreement, that the transferee shall pay the fees of the
10 payee's counsel, accountant, or actuary, regardless of whether the transfer agreement
11 is approved, and regardless of whether the attorney, accountant, or actuary files any
12 document or appears at the hearing on the Petition for transfer, in an aggregate amount
13 not to exceed one thousand five hundred dollars ($1,500). Further, that such advice
14 may not be provided by an accountant, counsel, or actuary of the transferee.
15 20. It is submitted to this Court that this Petition, the Notice of Petition
16 attached hereto, and the advisory statement provided to the payee all comply with and
17 satisfy the requirements of California Insurance Code section 10139.5.
18
19 Wherefore, Petitioner respectfully requests that upon fulfillment of all disclosures
20 and notices set forth under California Insurance Code sections 10134, et seq., this
21 Court enter an Order approving the Transfer Agreement by and between Payee and
22 Apollo Mathers, LLC, Transferee.
23
24
Christopher R. Milton
25 Evan S. Chait
Sanpreet Gill
26 Attorneys for Petitioner
27
28
PETITION FOR APPROVAL FOR TRANSFER OF STRUCTURED SETTLEMENT
PAYMENT RIGHTS
[CAL. INS. CODE § 10139.5 (2010)]
5
Preview
1 CHRISTOPHER R. MILTON. ESQ. State Bar No. 220361 EVAN S. CHAIT. ESQ. State Bar No. 292133 2 SANPREET GILL. ESQ. State Bar No. 303553 Attorneys at Law 3 2626 Foothill Blvd. Ste. 200 La Crescenta, CA 91214 4 Telephone: (800) 449-6311 Facsimile: (800) 922-6312 5 Attorneys for Petitioner 6 7 8 THE SUPERIOR COURT OF THE STATE OF CALIFORNIA 9 FOR THE COUNTY OF MONTEREY 10 11 APOLLO MATHERS, LLC ) Case No.: ________________ 12 ) ) PETITION FOR APPROVAL FOR 13 ) TRANSFER OF STRUCTURED ) SETTLEMENT PAYMENT RIGHTS 14 VS. ) ) [CAL. INS. CODE § 10139.5 (2010)] 15 ) ) Hearing Date: ________ 16 ) Hearing Time: ________ ) Hearing Dept.: ________ 17 CERTAIN STATUTORY INTERESTED ) PARTIES AS DEFINED BY CAL. INS. ) 18 CODE 10134(G) ) 19 20 Comes now Apollo Mathers, LLC, by undersigned counsel which respectfully 21 petitions this Court pursuant to §§10134 et seq. of the California Insurance Code, as 22 amended, for approval of the transfer of certain structured settlement payment rights, 23 and in support hereof, states as follows: 24 25 1. Petitioner, Apollo Mathers, LLC is a California Limited Liability Company 26 doing business in the State of California. 27 28 PETITION FOR APPROVAL FOR TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS [CAL. INS. CODE § 10139.5 (2010)] 1 1 2. Transferor, hereinafter referred to as the Payee, is a statutory interested 2 party in the present matter. Petitioner is informed and believes and upon that basis 3 alleges that Payee is a resident of Monterey County, California. 4 3. The Obligor, an insurance company authorized to do business in the State 5 of California, is the Structured Settlement Obligor, as defined by Cal. Ins. Code § 6 10134(k), which has a continuing periodic payment obligation to the Payee under a 7 structured settlement agreement or a qualified assignment agreement. 8 4. The Issuer, an insurance company authorized to do business in the State 9 of California, has issued an insurance contract used to fund the structured settlement 10 payment obligations of the Obligor. 11 5. This Court has subject matter jurisdiction over the instant action pursuant 12 to Cal. Ins. Code § 10135(c) as either (1) the payee was domiciled in California at the 13 time the transfer agreement was signed by the Payee, or (2) the payee was not 14 domiciled in California at the time the transfer agreement was signed and the state 15 where the payee was domiciled does not have a structured settlement transfer statute, 16 but either the Obligor or the Annuity Issuer is domiciled in California. 17 6. Payee entered into an agreement for the settlement of a claim for 18 damages arising in connection with a wrongful death claim; 19 7. Petitioner is informed and believes and upon that basis alleges that the 20 underlying structured settlement that established the annuity at issue in the present 21 case contained language that restricted and/or prohibited the right and/or power to 22 assign the Assigned Payments in question. Notwithstanding such language, where no 23 interested parties object to the transfer of structured settlement payment rights, the anti- 24 assignment provisions in an annuity contract, settlement agreement, or other related 25 contracts do not bar court-approved transfers of structured settlement payments. 321 26 Henderson Receivables Origination LLC v. Sioteco, 93 Cal. Rptr. 3d 321, 334 (Cal. Ct. 27 App. 2009); 28 PETITION FOR APPROVAL FOR TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS [CAL. INS. CODE § 10139.5 (2010)] 2 1 8. The settlement agreed to by the Transferor provides for certain lump sum 2 and periodic structured payments, including but not limited to the payments that are the 3 subject of this Petition; 4 9. Payee has agreed to sell, and Transferee, Apollo Mathers, LLC, has 5 agreed to purchase monthly payments and/or certain lump sum payments, as 6 referenced within their proposed Transfer Agreement. A true and correct copy of the 7 proposed Transfer Agreement will be filed subsequently hereto. 8 10. Apollo Mathers, LLC, shall, upon this Court entering an Order approving 9 the Transfer Agreement, assign all its right, title and interest in and to the said proposed 10 Transfer Agreement to its assignee, to be designated at the time of the hearing on the 11 present matter. 12 11. Pursuant to Cal. Ins. Code § 10137(a)(1) and Cal. Ins. Code § 13 10139.5(a)(1) as well as 26 USC § 5891(b)(2)(A)(ii), Petitioner alleges that that transfer 14 of structured settlement payment rights in the present matter is fair and reasonable and 15 in the best interests of the Payee, taking into account the welfare and support of the 16 Payee's dependents, if any. 17 12. Pursuant to Cal. Ins. Code §§ 10137(b) and 10139.5(a)(4) as well as 26 18 USC § 5891(b)(2)(A)(i), Petitioner alleges that the transfer complies with the 19 requirements of Cal. Ins. Code § 10134, et seq., and will not contravene other 20 applicable law, does not contravene any applicable statute or the order of any court or 21 other government authority, and does not contravene any Federal or State statute or the 22 order of any court or responsible administrative authority. 23 13. Pursuant to Cal. Ins. Code § 10139.5(a)(2), Petitioner alleges that the 24 Payee has been advised in writing by the transferee to seek independent professional 25 advice regarding the transfer and has either received that advice or knowingly, in 26 writing, waived the opportunity to receive the advice. 27 14. Pursuant to Cal. Ins. Code § 10139.5(a)(3), the Petitioner has complied, or 28 will comply at the time of the hearing, with the notification requirements of Cal. Ins. PETITION FOR APPROVAL FOR TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS [CAL. INS. CODE § 10139.5 (2010)] 3 1 Code § 10139.5(f)(2) and the Petitioner (or its predecessor) has provided the Payee 2 with a disclosure statement that complies with Cal. Ins. Code § 10136(b) and the 3 transfer agreement complies with Cal. Ins. Code §§ 10136(c) and 10138. 4 15. Pursuant to Cal. Ins. Code § 10139.5(a)(5), the Payee understands the 5 terms of the transfer agreement, including the terms set forth in the disclosure 6 statement required by Cal. Ins. Code § 10136(b). 7 16. Pursuant to Cal. Ins. Code § 10139.5(a)(6), the Payee understands and 8 does not wish to exercise the Payee's right to cancel the transfer agreement. 9 17. Pursuant to Cal. Ins. Code § 10139.5(f) the following documents shall be 10 served along with a copy of this Petition and Notice of Hearing: 11 A. A copy of the transferee's current petition and any other prior 12 petition, whether approved or withdrawn, that was filed with the court in 13 accordance with Cal. Ins. Code § 10139.5(c)(6). See Declaration of Factoring 14 Company Representative to be filed subsequently hereto in this matter. 15 B. A copy of the proposed transfer agreement and disclosure 16 statement required by Cal. Ins. Code § 10136(b). 17 C. A listing of each of the payee's dependents, together with each 18 dependent's age. 19 D. A copy of the annuity contract, if available. See declaration of 20 Factoring Company Representative to be filed subsequently hereto in this matter. 21 E. A copy of the qualified assignment agreement, if available. See 22 declaration of Factoring Company Representative to be filed subsequently hereto 23 in this matter. 24 F. A copy of the underlying structured settlement agreement, if 25 available. See declaration of Factoring Company Representative to be filed 26 subsequently hereto in this matter. 27 18. It is submitted that all of the foregoing requirements either have been met 28 or will be met prior to any scheduled hearing, and the Petitioner respectfully requests PETITION FOR APPROVAL FOR TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS [CAL. INS. CODE § 10139.5 (2010)] 4 1 that this Court approve the transfer of the structured settlement payments that are the 2 subject of this Petition. 3 19. California Insurance Code section 10139.5(h) requires that no later than 4 the time of filing of the Petition for court approval, the Transferee shall advise the Payee 5 of the payee's right to seek independent counsel and financial advice in connection with 6 the transferee's petition for court approval of the transfer agreement, and that the 7 transferee shall further advise the payee that if the payee retains counsel, a licensed 8 certified public accountant, or a licensed actuary in connection with a petition for an 9 order approving the transfer agreement, that the transferee shall pay the fees of the 10 payee's counsel, accountant, or actuary, regardless of whether the transfer agreement 11 is approved, and regardless of whether the attorney, accountant, or actuary files any 12 document or appears at the hearing on the Petition for transfer, in an aggregate amount 13 not to exceed one thousand five hundred dollars ($1,500). Further, that such advice 14 may not be provided by an accountant, counsel, or actuary of the transferee. 15 20. It is submitted to this Court that this Petition, the Notice of Petition 16 attached hereto, and the advisory statement provided to the payee all comply with and 17 satisfy the requirements of California Insurance Code section 10139.5. 18 19 Wherefore, Petitioner respectfully requests that upon fulfillment of all disclosures 20 and notices set forth under California Insurance Code sections 10134, et seq., this 21 Court enter an Order approving the Transfer Agreement by and between Payee and 22 Apollo Mathers, LLC, Transferee. 23 24 Christopher R. Milton 25 Evan S. Chait Sanpreet Gill 26 Attorneys for Petitioner 27 28 PETITION FOR APPROVAL FOR TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS [CAL. INS. CODE § 10139.5 (2010)] 5