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IN THE CIRCUIT COURT OF THE FIFTH
JUDICIAL CIRCUIT OF THE STATE OF FLORIDA,
IN AND FOR CITRUS COUNTY
IN RE:
APPROVAL FOR TRANSFER OF
PAYMENT RIGHTS BY
Case No. 2021-CA-000388
J. G. Wentworth Originations, LLC,
Applicant.
/
FINAL ORDER GRANTING APPROVAL FOR TRANSFER
OF STRUCTURED SETTLEMENT PAYMENT RIGHTS
THIS CAUSE came before the Court on September 3, 2021, upon the Application for Court Approval
of a Transfer of Settlement Payment Rights filed by J.G. WENTWORTH ORIGINATIONS, LLC (‘Applicant’),
regarding K. W., an individual, pursuant to Section 626.99296, Florida Statutes. The Court, having considered
the Application, and having heard the argument of counsel, reviewed the court file, and after being otherwise
fully advised in the premises, hereby makes the following findings of fact:
1. This Court has jurisdiction over this matter and venue is appropriate in this Court pursuant
to Section 626.99296, Florida Statutes.
2. The transfer complies with Section 626.99296, Florida Statutes, and does not contravene
any federal or state statute, or the order of any court or responsible administrative authority and does not
contravene the terms of the Structured Settlement or, in the alternative, this Court has elected to rule on the
merits of the Application and any objections to same as permitted by Section 626.99296(5)(e), Florida
Statues.
3. This Order is a “Qualified Order’ pursuant to 26 U.S.C. § 5891, ef seq.
4. At least ten days prior to the date on which K. W. first incurred an obligation with respect to
the transfer, J.G. Wentworth Originations, LLC, the Transferee, provided K. W., the Payee, with a disclosure
lated
Sep. B71 403"Case No. 2021-CA-000388
statement in bold type, in font size no smaller than 14 points, which specified:
(a)
(b)
©
(@)
(h)
The amounts and due dates of the structured settlement payments to be transferred;
The aggregate amount of the payments;
The discounted present value of the payments, together with the discount rate used
in determining the present discounted present value;
The gross amount payable to the Payee in exchange for the payments;
An itemized listing of all broker commissions, services charges, application fees,
processing fees, closing costs, filing fees, referral fees, administrative fees, legal
fees and Notary fees and other commissions, fees, costs, expenses, and charges
payable by the Payee or deductible from the gross amount otherwise payable to the
Payee;
The net amount payable to the Payee after deducting all commissions, fees, costs,
expenses, and charges described in sub-paragraph (e) above;
The effective annual interest rate disclosed as follows: “Based on the net amount
that you will receive from us and the amounts and timing of the structured settlement
payments that you are turning over to us, you will, in effect be paying interest to us
at a rate of 18.31% per year”; and
The amount of any penalty and the aggregate amount of any liquidated damages,
including penalties, payable by the Payee in the event of a breach of the Transfer
Agreement by the Payee.
5. After holding a hearing on the Application, and upon the personal appearance of K. W., the
Court has determined that the transfer of K. W.’s structured settlement payments rights is in K. W.'s best
interests, taking into account the welfare and support of K. W.’s dependents, if any, and the transfer is
necessary, reasonable or appropriate.
6. K. W. has received or waived in writing his or her right to receive, independent professional
advice regarding the legal, tax and financial implications of the transfer.
7. The transfer agreement provides that if the Payee is domiciled in this state, any disputes
between the parties will be governed in accordance with the laws of this state and that the domicile state of
the Payee is the proper venue to bring any cause of action arising out of a breach of the agreement.Case No. 2021-CA-000388
8. - Thenet amount payable to K. W. is fair, just, and reasonable under the circumstances then
existing and is not expected to subject K. W., K. W.’s dependents (if any), or both, to undue or unreasonable
financial hardship in the future.
9. Notice was properly given to all interested parties, and all of the notification requirements
set forth under Section 626.99296, Florida Statutes, have been satisfied.
Accordingly, it is hereby ORDERED AND ADJUDGED:
1. MetLife Assignment Company, Inc. and Metropolitan Tower Life Insurance Company are
directed to remit payments as follows: A) 1 payment of $7,000.00 on May 25, 2022 B) 1 payment of
$7,000.00 on February 4, 2023 C) 1 payment of $7,000.00 on September 20, 2024 D) 1 payment of $7,000.00
on May 25, 2027 E) 1 payment of $7,000.00 on February 4, 2028 (the “Assigned Payment(s)") due under
annuity contract no. 202912 to J.G. Wentworth Originations, LLC at PO Box 83364, Woburn, MA 01813-3364
or such other address as Applicant shall later designate in writing (Tax ID 88-0513164).
2. J.G. Wentworth Originations, LLC is directed to pay K. W. the net purchase price of
$20,000.00.
3. K. W. no longer has the power or authority to request changes to the payments address or
beneficiary designation relating to the Assigned Payment(s), and no other person or entity other than J.G.
Wentworth Originations, LLC or its successors or assigns shall have the power or authority to change the
address for payments of the Assigned Payments). MetLife Assignment Company, Inc. and Metropolitan
Tower Life Insurance Company shall not change the payments address for the Assigned Payment(s) unless
they have received written notice from J.G. Wentworth Originations, LLC or its successors or its assigns.
4. J.G. Wentworth Originations, LLC shall indemnify MetLife Assignment Company, Inc., and
Metropolitan Tower Life Insurance Company for any liability, including reasonable costs and attorney's fees,
from litigation arising as a result of compliance by MetLife Assignment Company, Inc. and Metropolitan TowerCase No. 2021-CA-000388
Life Insurance Company with this Order.
5. Any. payments by MetLife Assignment Company, Inc., or Metropolitan Tower Life Insurance
Company of the Assigned Payment(s) to anyone other than J.G. Wentworth Originations, LLC will not serve
to discharge or relieve the interested parties from their liability to J.G. Wentworth Originations, LLC as to the
Assigned Payments), and the interested parties shall remain liable to Applicant for the Assigned Payment(s),
unless and until Applicant receives all said payments in their entirety.
6. Until the due date of the last Assigned Payment, the designated beneficiary of the annuity
shall be the estate of K. W. However, the death of K W. prior to the due date of the last Assigned Payment
shall not affect the transfer of the Assigned Payment(s) from K. W. to J.G. Wentworth Originations, LLC, and
K. W. understands that she is giving up her rights, and the rights of her heirs, successors and/or beneficiaries,
to the Assigned Payment(s).
7. MetLife Assignment Company, Inc. and Metropolitan Tower Life Insurance Company are
directed to issue a formal acknowledgement letter of the transfer within twenty (20) days of the date of receipt
of this Order. The formal acknowledgement letter shall be delivered to J.G. Wentworth Originations, LLC at
1200 Morris Drive, Chesterbrook, PA 19087.
a2 :
DONE AND ORDERED in Citrus County, Florida, on See akey,
Cite 2 hey?
Caroline Falvey, Circuit Judge
Conformed copies to:
Richard T. Petitt, Esq., and Chad Wilson, Esq. (pleadings@pettt. com)
K.W.
Fumished by U.S. or
Electronic Mail
Pursuant to SC10-2101 this
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IN THE CIRCUIT COURT OF THE FIFTH JUDICIAL CIRCUIT OF THE STATE OF FLORIDA, IN AND FOR CITRUS COUNTY IN RE: APPROVAL FOR TRANSFER OF PAYMENT RIGHTS BY Case No. 2021-CA-000388 J. G. Wentworth Originations, LLC, Applicant. / FINAL ORDER GRANTING APPROVAL FOR TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS THIS CAUSE came before the Court on September 3, 2021, upon the Application for Court Approval of a Transfer of Settlement Payment Rights filed by J.G. WENTWORTH ORIGINATIONS, LLC (‘Applicant’), regarding K. W., an individual, pursuant to Section 626.99296, Florida Statutes. The Court, having considered the Application, and having heard the argument of counsel, reviewed the court file, and after being otherwise fully advised in the premises, hereby makes the following findings of fact: 1. This Court has jurisdiction over this matter and venue is appropriate in this Court pursuant to Section 626.99296, Florida Statutes. 2. The transfer complies with Section 626.99296, Florida Statutes, and does not contravene any federal or state statute, or the order of any court or responsible administrative authority and does not contravene the terms of the Structured Settlement or, in the alternative, this Court has elected to rule on the merits of the Application and any objections to same as permitted by Section 626.99296(5)(e), Florida Statues. 3. This Order is a “Qualified Order’ pursuant to 26 U.S.C. § 5891, ef seq. 4. At least ten days prior to the date on which K. W. first incurred an obligation with respect to the transfer, J.G. Wentworth Originations, LLC, the Transferee, provided K. W., the Payee, with a disclosure lated Sep. B71 403"Case No. 2021-CA-000388 statement in bold type, in font size no smaller than 14 points, which specified: (a) (b) © (@) (h) The amounts and due dates of the structured settlement payments to be transferred; The aggregate amount of the payments; The discounted present value of the payments, together with the discount rate used in determining the present discounted present value; The gross amount payable to the Payee in exchange for the payments; An itemized listing of all broker commissions, services charges, application fees, processing fees, closing costs, filing fees, referral fees, administrative fees, legal fees and Notary fees and other commissions, fees, costs, expenses, and charges payable by the Payee or deductible from the gross amount otherwise payable to the Payee; The net amount payable to the Payee after deducting all commissions, fees, costs, expenses, and charges described in sub-paragraph (e) above; The effective annual interest rate disclosed as follows: “Based on the net amount that you will receive from us and the amounts and timing of the structured settlement payments that you are turning over to us, you will, in effect be paying interest to us at a rate of 18.31% per year”; and The amount of any penalty and the aggregate amount of any liquidated damages, including penalties, payable by the Payee in the event of a breach of the Transfer Agreement by the Payee. 5. After holding a hearing on the Application, and upon the personal appearance of K. W., the Court has determined that the transfer of K. W.’s structured settlement payments rights is in K. W.'s best interests, taking into account the welfare and support of K. W.’s dependents, if any, and the transfer is necessary, reasonable or appropriate. 6. K. W. has received or waived in writing his or her right to receive, independent professional advice regarding the legal, tax and financial implications of the transfer. 7. The transfer agreement provides that if the Payee is domiciled in this state, any disputes between the parties will be governed in accordance with the laws of this state and that the domicile state of the Payee is the proper venue to bring any cause of action arising out of a breach of the agreement.Case No. 2021-CA-000388 8. - Thenet amount payable to K. W. is fair, just, and reasonable under the circumstances then existing and is not expected to subject K. W., K. W.’s dependents (if any), or both, to undue or unreasonable financial hardship in the future. 9. Notice was properly given to all interested parties, and all of the notification requirements set forth under Section 626.99296, Florida Statutes, have been satisfied. Accordingly, it is hereby ORDERED AND ADJUDGED: 1. MetLife Assignment Company, Inc. and Metropolitan Tower Life Insurance Company are directed to remit payments as follows: A) 1 payment of $7,000.00 on May 25, 2022 B) 1 payment of $7,000.00 on February 4, 2023 C) 1 payment of $7,000.00 on September 20, 2024 D) 1 payment of $7,000.00 on May 25, 2027 E) 1 payment of $7,000.00 on February 4, 2028 (the “Assigned Payment(s)") due under annuity contract no. 202912 to J.G. Wentworth Originations, LLC at PO Box 83364, Woburn, MA 01813-3364 or such other address as Applicant shall later designate in writing (Tax ID 88-0513164). 2. J.G. Wentworth Originations, LLC is directed to pay K. W. the net purchase price of $20,000.00. 3. K. W. no longer has the power or authority to request changes to the payments address or beneficiary designation relating to the Assigned Payment(s), and no other person or entity other than J.G. Wentworth Originations, LLC or its successors or assigns shall have the power or authority to change the address for payments of the Assigned Payments). MetLife Assignment Company, Inc. and Metropolitan Tower Life Insurance Company shall not change the payments address for the Assigned Payment(s) unless they have received written notice from J.G. Wentworth Originations, LLC or its successors or its assigns. 4. J.G. Wentworth Originations, LLC shall indemnify MetLife Assignment Company, Inc., and Metropolitan Tower Life Insurance Company for any liability, including reasonable costs and attorney's fees, from litigation arising as a result of compliance by MetLife Assignment Company, Inc. and Metropolitan TowerCase No. 2021-CA-000388 Life Insurance Company with this Order. 5. Any. payments by MetLife Assignment Company, Inc., or Metropolitan Tower Life Insurance Company of the Assigned Payment(s) to anyone other than J.G. Wentworth Originations, LLC will not serve to discharge or relieve the interested parties from their liability to J.G. Wentworth Originations, LLC as to the Assigned Payments), and the interested parties shall remain liable to Applicant for the Assigned Payment(s), unless and until Applicant receives all said payments in their entirety. 6. Until the due date of the last Assigned Payment, the designated beneficiary of the annuity shall be the estate of K. W. However, the death of K W. prior to the due date of the last Assigned Payment shall not affect the transfer of the Assigned Payment(s) from K. W. to J.G. Wentworth Originations, LLC, and K. W. understands that she is giving up her rights, and the rights of her heirs, successors and/or beneficiaries, to the Assigned Payment(s). 7. MetLife Assignment Company, Inc. and Metropolitan Tower Life Insurance Company are directed to issue a formal acknowledgement letter of the transfer within twenty (20) days of the date of receipt of this Order. The formal acknowledgement letter shall be delivered to J.G. Wentworth Originations, LLC at 1200 Morris Drive, Chesterbrook, PA 19087. a2 : DONE AND ORDERED in Citrus County, Florida, on See akey, Cite 2 hey? Caroline Falvey, Circuit Judge Conformed copies to: Richard T. Petitt, Esq., and Chad Wilson, Esq. (pleadings@pettt. com) K.W. Fumished by U.S. or Electronic Mail Pursuant to SC10-2101 this