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2016-26897 / Court: 151
CAUSE NO. ________________
IN THE MATTER OF JIMMY WILTON IN THE DISTRICT COURT
CATALINA STRUCTURED FUNDING,
INC.,
Transferee
JIMMY WILTON,
HARRIS COUNTY, TEXAS
Transferor
PETITION FOR APPROVA FOR TRANSFER OF STRUCTURED SETTLEMENT
PAYMENT RIGHTS
Comes now Catalina Structured Funding, Inc. 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
A discovery control plan is not required for the adjudication of this Petition.
2. Jimmy Wilton entered into an agreement for the settlement of a claim for
damages arising in connection with wrongful death 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 , 7 monthly payments of $500.00 each, beginning
07/01/2016 through and including 01/01/2017; 5 monthly payments of $1,000.00 each,
beginning 02/01/2017 through and including 06/01/2017; and 30 monthly payments of
$500.00 each, beginning 07/09/2017 through and including 12/09/2019;
PETITION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT
PAYMENT RIGHTS
he “structured settlement obligor” with respect to the aforementioned
structured settlement payments is Mutual of Omaha Structured Settlement Company
located at Structured Settlements PO Box 8250 Omaha NE 68108
he “annuity issuer” who has issued an insurance contract used to fund
the structured settlement payments is United of Omaha Life Insurance Company
located at Structured Settlements PO Box 8250 Omaha NE 68108
Transferor, Jimmy Wilton, has agreed to sell, and Transferee, 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 “ and incorporated
herein by this reference;
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
Catalina Structured Funding, Inc., shall, upon this Court entering an Order
roving 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)
n order for this court to approve said transfer, this court must make
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;
PETITION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT
PAYMENT RIGHTS
(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.
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
The Payee, Jimmy Wilton, is and at all times relevant herein was,
domiciled in the county of Harris, State of TexasThis 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)
Tex. Civ. Prac. & Rem Code Ann. § 141.003requires 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
and incorporated herein by this reference. A Affidavit stating the payee
acknowledgement is attached hereto as part of Exhibit “ ”; see also Affidavit of Jimmy
Wilton attached hereto.
PETITION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT
PAYMENT RIGHTS
THE TRANSFER OF THE STRUCTURED SETTLEMENT PAYMENT RIGHTS IS FAIR
AND REASONABLE AND IN THE BEST INTEREST OF THE PAYEE
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.
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 Jimmy Wilton. See Affidavit of
Jimmy Wilton attached hereto.
REQUIREMENTS OF TEX. CIV. PRAC. & REM CODE ANN. § 141.006HAVE BEEN
MET (NOTICE TO INTERESTED PARTIES AND PROPER DOCUMENTS
PRESENTED TO THIS COURT)
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 “
(C) A copy of the disclosure statement required under section 141.003
Exhibit “
(D) A listing of each of the payee’s dependents, together with each
dependent’s age (Exhibit “
(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.
PETITION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT
PAYMENT RIGHTS
It is submitted to this Court that this Petition and the Notice of Hearing to
filed subsequently hereto satisfies Tex. Civ. Prac. & Rem Code Ann. § 141.006
CONCLUSION
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
by and between Jimmy Wilton, Transferor, and Catalina Structured Funding, Inc.
Transferee.
Dated this day of April, 2016
CATALINA STRUCTURED FUNDING, INC.
2626 Foothill Blvd., Ste. 200
La Crescenta, CA 91214
Telephone No.: (800) 449
Facsimile No.: (800) 922
By: ______________________________
Christopher R. Milton
Texas State Bar No.: 24064192
cmilton@catalinastructuredfunding.com
Attorney for Petitioner
PETITION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT
PAYMENT RIGHTS
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2016-26897 / Court: 151 CAUSE NO. ________________ IN THE MATTER OF JIMMY WILTON IN THE DISTRICT COURT CATALINA STRUCTURED FUNDING, INC., Transferee JIMMY WILTON, HARRIS COUNTY, TEXAS Transferor PETITION FOR APPROVA FOR TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS Comes now Catalina Structured Funding, Inc. 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 A discovery control plan is not required for the adjudication of this Petition. 2. Jimmy Wilton entered into an agreement for the settlement of a claim for damages arising in connection with wrongful death 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 , 7 monthly payments of $500.00 each, beginning 07/01/2016 through and including 01/01/2017; 5 monthly payments of $1,000.00 each, beginning 02/01/2017 through and including 06/01/2017; and 30 monthly payments of $500.00 each, beginning 07/09/2017 through and including 12/09/2019; PETITION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS he “structured settlement obligor” with respect to the aforementioned structured settlement payments is Mutual of Omaha Structured Settlement Company located at Structured Settlements PO Box 8250 Omaha NE 68108 he “annuity issuer” who has issued an insurance contract used to fund the structured settlement payments is United of Omaha Life Insurance Company located at Structured Settlements PO Box 8250 Omaha NE 68108 Transferor, Jimmy Wilton, has agreed to sell, and Transferee, 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 “ and incorporated herein by this reference; 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 Catalina Structured Funding, Inc., shall, upon this Court entering an Order roving 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) n order for this court to approve said transfer, this court must make 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; PETITION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS (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. 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 The Payee, Jimmy Wilton, is and at all times relevant herein was, domiciled in the county of Harris, State of TexasThis 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) Tex. Civ. Prac. & Rem Code Ann. § 141.003requires 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 and incorporated herein by this reference. A Affidavit stating the payee acknowledgement is attached hereto as part of Exhibit “ ”; see also Affidavit of Jimmy Wilton attached hereto. PETITION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS THE TRANSFER OF THE STRUCTURED SETTLEMENT PAYMENT RIGHTS IS FAIR AND REASONABLE AND IN THE BEST INTEREST OF THE PAYEE 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. 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 Jimmy Wilton. See Affidavit of Jimmy Wilton attached hereto. REQUIREMENTS OF TEX. CIV. PRAC. & REM CODE ANN. § 141.006HAVE BEEN MET (NOTICE TO INTERESTED PARTIES AND PROPER DOCUMENTS PRESENTED TO THIS COURT) 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 “ (C) A copy of the disclosure statement required under section 141.003 Exhibit “ (D) A listing of each of the payee’s dependents, together with each dependent’s age (Exhibit “ (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. PETITION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS It is submitted to this Court that this Petition and the Notice of Hearing to filed subsequently hereto satisfies Tex. Civ. Prac. & Rem Code Ann. § 141.006 CONCLUSION 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 by and between Jimmy Wilton, Transferor, and Catalina Structured Funding, Inc. Transferee. Dated this day of April, 2016 CATALINA STRUCTURED FUNDING, INC. 2626 Foothill Blvd., Ste. 200 La Crescenta, CA 91214 Telephone No.: (800) 449 Facsimile No.: (800) 922 By: ______________________________ Christopher R. Milton Texas State Bar No.: 24064192 cmilton@catalinastructuredfunding.com Attorney for Petitioner PETITION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS