Preview
Filed
10/29/2019 4:12 PM
Beverley McGrew Walker
District Clerk
Fort Bend County, Texas
Amber England
CAUSE NO. ____________
IN THE MATTER OF § IN THE DISTRICT COURT
§
§
G7 CRESCENTA, LLC, §
§
Transferee §
§ 19-DCV-268091
and §
§
§
§ Fort Bend County - 400th Judicial District Court
§
Transferor § FORT BEND COUNTY, TEXAS
PETITION FOR APPROVAL FOR TRANSFER OF STRUCTURED SETTLEMENT
PAYMENT RIGHTS
Comes now G7 Crescenta, LLC, by undersigned counsel which respectfully
petitions this Court pursuant to Chapter 141 of the Texas Civil Practice & Remedies
Code for approval of the transfer of certain structured settlement payment rights, and in
support hereof, states as follows:
INTRODUCTION
1. A discovery control plan is not required for the adjudication of this Petition.
2. by and through his or her guardian ad litem, entered into an
agreement for the settlement of a claim for damages arising in connection with personal
injury claim;
3. The settlement agreed to by the Transferor provides for certain lump sum
and periodic structured payments, including but not limited to those payments that are
the subject of this Petition, to-wit:
4. The "structured settlement obligor" with respect to the aforementioned
structured settlement payments is
PETITION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT
PAYMENT RIGHTS
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located at ;
5. The "annuity issuer" who has issued an insurance contract used to fund
the structured settlement payments is
located at
6. Transferor, has requested that his/her personally identifiable
information be concealed from public inspection in accordance with Section 141.006 of
the Texas Civil Practice and Remedies Code (see Exhibit "A").
7. Transferor, has agreed to sell, and Catalina Structured
Funding, Inc. has agreed to purchase, certain lump sum payments, as referenced within
their proposed Purchase Agreement. A true and correct copy of the proposed Purchase
Agreement is attached hereto as Exhibit "B" and incorporated herein by this reference;
8. Catalina Structured Funding, Inc., a corporation formed under the laws of
California, has assigned all of its rights to the proposed transfer of structured settlement
payment rights to Transferee, G7 Crescenta, LLC. See Exhibit “C” to be filed
subsequently hereto;
9. Petitioner is informed and believes and upon that basis alleges that the
underlying structured settlement that established the annuity at issue in the present
case contained language that restricted and/or prohibited the right and/or power to
assign the Assigned Payments in question;
10. G7 Crescenta, LLC, shall, upon this Court entering an Order approving the
Transfer and Assignment Agreement, assign all its right, title and interest in and to the
said proposed Transfer and Assignment Agreement to a Third Party Assignee, to be
provided to this court prior to any scheduled hearing on this matter.
CONDITIONS TO TRANSFERS OF STRUCTURED SETTLEMENT PAYMENT
RIGHTS (TEX. CIV. PRAC. & REM CODE ANN. § 141.004)
11. In order for this court to approve said transfer, this court must make
PETITION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT
PAYMENT RIGHTS
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certain statutory findings as set forth in Tex. Civ. Prac. & Rem Code Ann. § 141.004.
The applicable provisions of this code sections are:
(A) The transfer is in the best interest of the Payee, taking into account the
welfare and support of the Payee's dependents;
(B) The Payee has been advised in writing by the transferee to seek
independent professional advice regarding the transfer and has either
received the advice or knowingly waived the advice in writing; and
(C) The transfer does not contravene any applicable statute or an order of any
court or other governmental authority.
12. It is submitted that all of the foregoing requirements either have been met
or will be met prior to any scheduled hearing, and the Petitioner respectfully requests
that this Court approve the transfer of the structured settlement payments that are the
subject of this Petition.
JURISDICTION AND VENUE
13. The Payee, is and at all times relevant herein was,
domiciled in the county of Fort Bend, State of Texas. This Court therefore has proper
venue pursuant to Tex. Civ. Prac. & Rem Code Ann. § 141.002(2).
REQUIREMENTS OF TEX. CIV. PRAC. & REM CODE ANN. § 141.003
HAVE BEEN MET
(DISCLOSURE TO PAYEE)
14. Tex. Civ. Prac. & Rem Code Ann. § 141.003 requires that at least 3 days
prior to the date on which the Payee entered into the transfer agreement, the transferee
(or its predecessor) provide to the payee a disclosure statement in bold type, no smaller
than 14 points. The required separate written disclosure is attached hereto as Exhibit
"D" and incorporated herein by this reference. An Affidavit stating the payee
PETITION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT
PAYMENT RIGHTS
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acknowledgement is attached hereto as part of Exhibit "D"; see also Affidavit of
to be filed subsequently hereto.
THE TRANSFER OF THE STRUCTURED SETTLEMENT PAYMENT RIGHTS IS FAIR
AND REASONABLE AND IN THE BEST INTEREST OF THE PAYEE
15. Tex. Civ. Prac. & Rem Code Ann. § 141.004(1), requires that the transfer
is in the best interest of the Payee, taking into account the welfare and support of the
Payee's dependents.
16. It is submitted that there is sufficient evidence before this court for the
Court to find that this transfer is in the best interest of See Affidavit of
to be filed subsequently hereto.
REQUIREMENTS OF TEX. CIV. PRAC. & REM CODE ANN. § 141.006 HAVE BEEN
MET (NOTICE TO INTERESTED PARTIES AND PROPER DOCUMENTS
PRESENTED TO THIS COURT)
17. Tex. Civ. Prac. & Rem Code Ann. § 141.006, requires that at least 20
days before the scheduled hearing on this matter, the transferee must file with the court
and all interested parties a notice of the proposed transfer and the Petition for its
authorization. This notice must include the following documents:
(A) A copy of the transferee's Petition;
(B) A copy of the transfer agreement (Exhibit "B")
(C) A copy of the disclosure statement required under section 141.003
(Exhibit "D");
(D) A listing of each of the payee's dependents, together with each
dependent's age (Exhibit "E");
PETITION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT
PAYMENT RIGHTS
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(E) Notice that any interested party is entitled to support, oppose, or otherwise
respond to the transferee's Petition, either in person or by counsel, by
submitting written comments to the court or by participating in the hearing;
(F) 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 Petition
may be filed by interested parties to be considered by the court.
18. It is submitted to this Court that this Petition and the Notice of Hearing filed
subsequently hereto satisfies Tex. Civ. Prac. & Rem Code Ann. § 141.006.
CONCLUSION
19. Petitioner respectfully requests that upon fulfillment of all disclosures and
notices set forth under Chapter 141 of the Texas Civil Practice & Remedies Code, this
Court enter an Order approving the Transfer Agreement attached hereto as Exhibit "B"
by and between Transferor, and G7 Crescenta, LLC, Transferee.
Dated this 29th day of October, 2019
G7 CRESCENTA, LLC
2626 Foothill Blvd., Ste. 200
La Crescenta, CA 91214-3574
Telephone No.: (800) 449-6311
Facsimile No.: (800) 922-6312
By: ______________________________
Christopher R. Milton
Texas State Bar No.: 24064192
chris@csfcap.com
Attorney for Petitioner
PETITION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT
PAYMENT RIGHTS
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Exhibit A
DocuSign Envelope ID: 9DD54C5C-20A8-4BA4-82D3-CDC3A6D7E267
PRIVACY NOTICE
I, hereby request that my personally identifiable information, including the dates of
the payment(s) to be transferred and my signatures, be concealed from public inspection in
accordance with Section 141.006 of the Civil Practice and Remedies Code.
___________________________
10/29/2019
_______________
Date
Exhibit B
Exhibit C
ASSIGNMENT OF SALE AGREEMENT
For good and valuable consideration, Catalina Structured Funding, Inc. hereby assigns,
transfers and sets over to G7 Crescenta, LLC all of its right and interest it may have in the
payments being sold and assigned pursuant to the Agreement to Transfer Structured
Settlement Payment Rights by and between and Catalina Structured
Funding, Inc.
Dated this 25th day of October, 2019.
Catalina Structured Funding, Inc.
___________________________________
By: Christopher Milton
President
Exhibit D
Exhibit E
Exhibit “E”
List of Payee’s dependents, together with
each dependent’s age
1.
Exhibit E