NATURE OF PROCEEDINGS: MOTION — TO INTERVENE AND VACATE ORDER FOR WITHDRAWAL OF FUNDS FROM BLOCKED ACCOUNT [INTV] PACIFIC LIFE & ANNUITY SERVICES, INC. [INTV] PACIFIC LIFE INSURANCE COMPANY
RULING
The motion of nonparties Pacific Life Insurance Company and Pacific Life & Annuity Services, Inc. to intervene and vacate the order allowing plaintiff to withdraw amounts from the settlement annuity contract is GRANTED.
Discussion
On May 16, 2014, this court issued its order approving a compromise structured settlement agreement between plaintiff minor, through her guardian ad litem, Sissy Barker and defendant Toti, in which the settling parties agreed that a portion of that settlement amount ($75,179.00) may be paid in six annual periodic payments in the amount of $16,592.00/yr. beginning on 5/23/2021 , with the last payment due on 5/23/2026. (Ex. 1) As part of that settlement agreement, plaintiff as “Claimant” expressly acknowledged the “periodic payments cannot be accelerated, deferred,
Hearing Date
June 02, 2020
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NATURE OF PROCEEDINGS: MOTION — TO INTERVENE AND VACATE ORDER FOR WITHDRAWAL OF FUNDS FROM BLOCKED ACCOUNT [INTV] PACIFIC LIFE & ANNUITY SERVICES, INC. [INTV] PACIFIC LIFE INSURANCE COMPANY
RULING
The motion of nonparties Pacific Life Insurance Company and Pacific Life & Annuity Services, Inc. to intervene and vacate the order allowing plaintiff to withdraw amounts from the settlement annuity contract is GRANTED.
Discussion
On May 16, 2014, this court issued its order approving a compromise structured settlement agreement between plaintiff minor, through her guardian ad litem, Sissy Barker and defendant Toti, in which the settling parties agreed that a portion of that settlement amount ($75,179.00) may be paid in six annual periodic payments in the amount of $16,592.00/yr. beginning on 5/23/2021 , with the last payment due on 5/23/2026. (Ex. 1) As part of that settlement agreement, plaintiff as “Claimant” expressly acknowledged the “periodic payments cannot be accelerated, deferred,