HomeMy WebLinkAbout09-4851r
r
IN THE COURT OF COMMON PLEAS OF
IN RE: PETITION OF SETTLEMENT
FUNDING, LLC d/b/a/
PEACHTREE SETTLEMENT
FUNDING TO TRANSFER
STRUCTURED SETTLEMENT
PAYMENT RIGHTS
(PAYEE, BRANDEN K.
HIPPENSTEEL)
fBERLAND COUNTY, PENNSYLVANIA
No.
PETITION TO RANSFER
STRUCTURED SETTLEMEN PAYMENT RIGHTS
Petitioner, Settlement Funding, LLC d/b/a Peachtree
Settlement Funding, hereby submit the following Petition to
Transfer Structured Settlement Pa ment Rights pursuant to the
Structured Settlement Protection A t, 40 P.S. §§ 4001-4009 ("the
Act"), and Pa.R.C.P. 229.2, and in upport states:
1. Pursuant to Rule 229.2, the "Transferee" and Petitioner
herein is Settlement Funding, LL d/b/a Peachtree Settlement
Funding, a Georgia Limited Lia ility Company with offices
located at 3301 Quantum Blvd., lecond Floor, Boynton Beach,
Florida 33426.
2. The " Payee" is Brande K. Hippensteel, an adult
individual whose date of birth is March 11, 1989, and who
resides at 121 Spur Road, Carlisle, Pennsylvania 17013.
3. This Court has jurisdiction to determine the merits of
this petition pursuant to the Act I
in Cumberland County, Pennsylvania.
ecause the Payee is domiciled
40 P.S. § 4004.
'1 •
4. As the result of a wro gful death claim, Payee is
entitled to receive 120 monthly payments each in the amount of
$500.00 commencing on March 11, 2007 through and including
February 11, 2017, and lump sum payments each in the amount of
$146,650.00 due on March 11, 2011, March 11, 2014, March 11,
2019, March 11, 2024, and in the amount of $146,684.90 due on
March 11, 2029. (An excerpt of Payee's annuity policy showing
the payment schedule is attached he eto as Exhibit "A").
5. By operation of a Unif rm Qualified Assignment, the
obligation to make the monthly payments is held by American
General Assignment Corporation, the Structured "Settlement
obligor" as defined by 40 P.S. § 4002. American General
Assignment Corporation is locate at 205 East 10th Avenue,
Amarillo, Texas 79101.
6. The obligation was funded through the issuance of an
annuity by Western National Life Insurance Company f/k/a AIG
Annuity Insurance Company (the Annuity Issuer"). Western
National Life Insurance Company f/k/a AIG Annuity Insurance
Company is located at 205 East 10th Avenue, Amarillo, Texas
79101.
7. On July 15, 2009, ayee executed an Absolute
Assignment Agreement (the "Transfer Agreement"), a true and
correct copy of which is attached hereto and incorporated herein
by reference as Exhibit "B". The Transfer Agreement provides
Page 2 og 7
for the assignment of Payee's rig t and interest in receiving
lump sum payments of $40,000.00 du on or about March 11, 2011;
and $16,650.00 due on or about March 11, 2014, to Settlement
Funding LLC.1
8. The rights to receive the payments described above at
paragraph 4 are exclusive to the Payee, who owns them.
9. Payee has completed the "Payee's Affidavit in Support
of Petition" required by Rule 229.2, a copy of which is attached
hereto as Exhibit "C". As set fo th in further detail in the
Affidavit, the purpose of this transaction is to purchase a home
outright, in the Carlisle, Pennsylvania area. (Exhibit "B",
para. 7).
10. Payee has been provided, and has acknowledged receipt
at least 10 days prior to receipt of the Transfer Agreement, the
"Transfer Disclosure" required y 40 P.S. § 4003 (a)(2),
attached and incorporated herein by reference as Exhibit "D".
11. Based on the net amount that the Payee will receive
from this transaction ($32,797.56), and the amounts and timing
of the structured settlement payments that would be assigned,
the Payee is, in effect, paying interest at the rate of 25.56%
per year.
' Pursuant to Rule 229.2(d), Settlement Funding, LLC d/b/a Pe chtree Settlement Funding is the Petitioner and has
attached a Verification in support thereof. Pursuant to Rule 22 .2 (c), the Payee is also a party to this petition, as
reflected in the caption, but is not represented by counsel for P titioner.
Page 3 of 7
12. Payee has been provided, and has acknowledged receipt,
at least 10 days prior to receipt f the Transfer Agreement, of
the written "Notice" in bold print 12-point type as required by
40 P.S. § 4003 (b). A true and correct copy of Payee's
acknowledgement of the receipt o the § 4003 (b) Notice is
attached as Exhibit "E".
13. Payee has expressly waived independent legal advice
regarding the implications of the transfer, including the tax
ramifications of the transfer, as reflected in the
"Acknowledgment". (Exhibit "F").
14. The transfer complies with the requirements of the
Structured Settlement Protection Act, 40 P.S. §§ 4001-4009, and
will not contravene other applica le Federal or State statutes
or regulations or any applicable law limiting the transfer of
workers' compensation claims. (See, Certification of Ronald E.
Reitz, attached as Exhibit "G").
15. Petitioner and Payee respectfully request that the
Court sign an order approving this transfer which constitutes a
"qualified order" for purposes of 2 U.S.C.A § 5891.
16. Payee believes that due to his personal circumstances
and financial needs, his best interests are served by completing
this transfer.
Page 4 or 7
17. A brief discussion regarding the non-applicability of
anti-assignment provisions is
convenience, as Exhibit "H" herein.
attached for the Court's
18. Payee acknowledges that Swartz Campbell LLC has not
been engaged to render professional advice with respect to the
advisability, or the implications f the transfer, including the
tax ramifications of the transfer. Counsel has been engaged
solely to prepare and present the
Payee's independent determination
others, with respect to the advis
within Petition, based upon
and advice obtained from
ability and ramifications of
the transfer.
WHEREFORE, Settlement Funding, LLC, and Branden K.
Hippensteel, pray that this Honorable Court grant this Petition
to Transfer Structured Settlement Payment Rights.
Respectfully submitted,
Swart CA-A 1 LLC
By:
Zonald E. 'R-4?z
%ttorney for Transferee
Page 5 of 7
VERIFICATION
I, Kurt Moody, In-House Coun el of Settlement Funding, LLC
d/b/a Peachtree Settlement Funding, have read the foregoing
Petition to Transfer Structured Settlement Payment Rights, and
hereby aver that the statements therein are correct to the best
of my personal knowledge, information and belief.
This statement and verification is made subject to the
penalties of 18 Pa. C.S. § 4904 relating to unsworn
falsification to authorities.
Date:
'?
KUAT M00671
Page 6
fi
r
CERTIFICATE OFD SERVICE
I hereby certify that a true and correct copy of the
foregoing PETITION TO TRANSFER STRUCTURED SETTLEMENT PAYMENT
RIGHTS was served by certified mail, return-receipt requested,
postage pre-paid, on this tda? of July, 2009 on:
American General Assig ment Corporation
Att'n: Dona Clements, Legal Assistant
205 East 10 n Ave.
Amarillo, TX 79101
("Settlement bligor")
Western National Life Insurance Company f/k/a
AIG Annuity Insurance Company
Structured Settlements
205 East 10 h Ave.
Amarillo, TX 79101
("Annuity Is uer")
and by regular U.S. mail, postage prepaid to:
Kurt Moody, squire
Structured Settlements--In-House Counsel
Peachtree Settlement Funding
3301 Quantum Boulevard, Second Floor
Boynton Beach, FL 33426
("Transfe ee")
Branden K. Hi pensteel
121 Spur Rd.
Carlisle, PA 7013-9505
("Payee')
Swartt falnob*l1_ LLC
By:
Page 7 of
tonald E. Reitz
%ttorney for Transferee
7
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA
IN RE: PETITION OF SETTLEMENT
FUNDING, LLC d/b/a/
PEACHTREE SETTLEMENT
FUNDING TO TRANSFER No.
STRUCTURED SETTLEMENT
PAYMENT RIGHTS
(PAYEE, BRANDEN K.
HIPPENSTEEL)
FINAL
On this day of , 2009, it is ordered that
the Petition to Transfer Structured Settlement Payment Rights is
granted.
The court specifically finds tat:
(1) the payee has established that the transfer is in the
best interests of the payee takings into account the welfare and
support of payee's dependents;
(2) based on the certification by an attorney for the
transferee, Settlement Funding, L4C, and the court having not
been made aware of any statute, regulation or order that would
be incompatible with the proposedl transfer, the transfer will
not contravene any Federal or State statute or regulation, or
the order of any court or responsible administrative authority;
(3) the transfer complies with the remaining requirements
of the Structured Settlement Protection Act, including Sections
3 (a) (2) , 3 (a) (4) , 3 (a) (5) and 3 (a) (16) ;
I (4) the payments that are to be transferred are designated
as follows: lump sum payments of $40,000.00 due on or about
March 11, 2011; and $16,650.00 du on or about March 11, 2014
to Settlement Funding, LLC (the "As igned Payments").
(5) the Settlement Obligor i American General Assignment
Corporation, and the Annuity Issuer is Western National Life
Insurance Company f/k/a AIG Annuity Insurance Company. Annuity
Issuer shall forward the Assigned Payments to Settlement
Funding, LLC, when due, to P.O. Box 116476, Atlanta, GA 30368-
6476 or to such other address as designated by Settlement
Funding, LLC.
(6) the terms of this order hall survive the death of the
payee and shall be binding on the payee's heirs, beneficiaries
and assigns.
(7) the payee shall receive from the transferee the gross
amount of $34,997.56.
BY THE COURT:
J.
Ell/29/2009 16:28
17172415373
SCHEDULE
POLICY NUMBER: 404,483
EFFECTIVE DATE: 12-29-2000
SINGLE PREMIUM:-$10.00 AND OTHER VALUABLE C
OWNER: AMERICAN GENERAL ASSIGNMENT CORPORAT
MEASURING LIFE: BRANDEN KEITH HIPPENSTEEL
AGE (NEAREST BIRTHDAY) OF MEASURING LIFE ON
NUMBER, MANNER, AND MODE OF INSTALLMENT PAY
GUARANTEED PAYMENTS:
BEGINNING ENDING
DATE DATE
3-11-2007 2-112017
3-11-2011 3-11-2011
3-11-2014 3-11-2024
3-11-2029 3-11-2029
PAYMENT
AMOUNT
$500,00
$146,650.00
$146,650.00
$146,684.90
UPS STORE 2878
IDERATION
EFFECTIVE DATE: 12
ENTS TO BE MADE:
FREQUENCY
OF PAYMENT
MONTHLY
SINGLE
EVER 5 YEARS
SING E
IF THE MEASURING LIFE DIES PRIOR TO PAY;
THE GUARANTEED PERIOD, ANY REMAINING PA
IN ACCORDANCE WITH THE SETTLEMENT AGREE.
FIRST INSTALLMENT DUE DATE: 3-11-2007
PAGE
ANNUAL RATE OF IN-
CREASE IN PAYMENTS
---OW-
OF ALL INSTALLMENTS DURING
S DUE SHALL BE PAID
AS THEY BECOME DUE.
PAGE 06/18
Copy e r ORIGINAL.
EXHIBIT
07/16/2009 09:05 7174230051 ELITE NOTARY PAGE 02/39
ABSOLUTE AssiONM T AGREEMENT
(THE "AGREE ENT'•)
July 15, 2 09
I, Branden K. Hippensteei alkla Branden Hippensteel, ("I" "Me" or "Assignor") residing at 121 Spur Rd Carlisle,
PA 17013-9505 am entitled to 120 monthly payments each in the amount of $500.00 commencing on March 11,
2007 through and including February 11, 2017 and lump su payments as follows: $146,650.00 due on March 11.
2011: $146,650.00 due on March 11, 2014; $146,650.00 du on March 11, 2019; $146,650.00 due on March 11,
2024 and $146,684.90 due on March 11, 2029 (the "Periodic Payments") on account of the settlement of a certain
personal injury claim, the settlement of which is memorialized in that certain settlement agreement dated March 26,
2001 (the "Settlement Agreement"). The Periodic Payments are due to me from American General Assignment
Corporation (the "Settlement obligor") under the terms of t e Settlement Agreement and are being funded by an
annuity Issued by Western National Life Insurance Company f/k/a AIG Annuity Insurance Company (the
"Annuity Issuero) bearing annuity contract number 3404483-0 04,483.
A. I hereby sell, assign and convey to Settlement Fundi , L.L.C. (the "Assignee") and its assigns through an
assignment all of my rights to and interest in and to the f Ilowing payments due or to become due under the
Settlement Agreement:
Lump sum payments as follows: $40,000.0 due on or about March 11, 2011 and $16,650.00
due on or about March 11, 2014 (the "Assig ad Payments"); and
In consideration for this assignment, Assignee shall pay tom the sum of, $34,997.58 (the "Assignment Price").
B. I hereby make the following unconditional representat no, warranties and promises:
1. No one other than me has any interest or of im of any kind or nature in, to or under the Assigned
Payments I am assigning hereunder.
2. 1 am not indebted to anyone that would affe in any way either the assignment of the Assigned
Payments referenced above or Assignee's absolute rights to receive same.
3. 1 agree to conduct my affairs so as to ensure that Assignee obtains all of the benefits of the
assignment contemplated hereby.
C. I agree that the following shall be considered an event of default by me under this Absolute Assignment
Agreement:
1. The representations set forth in Paragraphs S 1 and B 2 above are at any time not true.
2. Failure by me to perform the promise set forth in Paragraph B 3 above,
3. failure by the Settlement Obligor or the Annuity Issuer to make any one or more of the Assigned
Payments as a result of any act by me, my es to or any of my heirs.
4. Failure by the Settlement Obligor or Annuity ssuer to forward one or more Assigned Payments to
Assignee as a result of any act by me, my e slate or any of my heirs.
5. Failure by me to forward promptly to Assig se any Assigned Payment received by me from the
Settlement Obligor or the Annuity Issuer.
6. Failure by me to fulfill any other obligation of ine under this Agreement.
D. The following are conditions precedent to Assignee's obligation to pay me the Assignment Price:
1. Assignee shall be satisfied, in its sole discreti n, that there are no claims or interests of any kind or
nature whatsoever that do or may affect Assi rise's rights to or interest in the Assigned Payments
and Assignee's ability actually to receive Sam on the dates and in the amounts set forth herein.
2. Assignee shall have received a final non-ep affable court order, or a signed acknowledgment from
Settlement Obligor and the Annuity Issuer sa isfactory to Assignee in Its sole discretion (such court
order or acknowledgement together are he inafter referred to as the "Order"), authorizing the
transfer by assignment of the Assigned Paym nts (which may continue to be made out to my name)
to Assignee, and directing that the Periodic Payments due on or after the day of the Order be
forwarded, or authorizing the forwarding of the Periodic Payments, directly to Assignee.
3. Assignee shall have received final financing approval from applicable funding source(s).
07/16/2009 09:05 7174230051
E. Under this Agreement and only to the extent permit
interest under Article 9 of the Uniform Commercial Code of t
to and interest in the Assigned Payments, which rights hal
under Article 9 of the Uniform Commercial Code of the sta,
shall also function as a security agreement. This security
performance of my obligations under paragraph g above. ?
instrument, including, without limitation, the Settlement Oblige
to Assignee as contemplated by the Uniform Commercial Cc
perfect its rights hereunder.
F. Except as otherwise required by applicable
interpreted in accordance with the law of the state of re
Any and all controversies, claims, disputes, rights, interests,
Agreement and the negotiations related thereto, or the t
administered by the American Arbitration Association. The
other party to this Agreement and with the American Arbitra
arbitration shall be held in the largest city in your state of r
arbitrator selected in accordance with the Commercial Arbi'
effect at the time that the demand for arbitration is filed. Dic
of documents and depositions shall be at the discretion
conducted in accordance with, and governed by the Federal
A demand for arbitration shall be made within a reasonable I
has arisen. In no event, shall the demand for arbitration be n
proceedings based on such claim, dispute or other matter in
limitations.
No arbitration arising out of or relating to this Agreement
manner, an additional person or entity not a party to this Ag
containing a specific reference to this Agreement and s
arbitration involving an additional person or entity shall not
other matter in question not described in the written come
therein. The foregoing agreement to arbitrate and other a4
duly consented to by parties to this Agreement, shall be spa
any court having jurisdiction thereof.
The award rendered by the arbitrator small be final, and
applicable law in any court having jurisdiction thereof. Such
and shall include legal fees and expenses for the substantial'
This provision does not apply to the extent inconsistent with i
settlement payments. In such case any disputes between th
of the domicile state of the payee and the domicile state of
action arising out of a breach of the agreement.
G. I hereby grant to Assignee an Irrevocable Power of At
things that I might do regarding the Assigned Payments
Agreement with respect to the Assigned Payments, including,
or other instruments, the power to alter, edit and change pay
any other act which, In the sole discretion of Assignee as n
obtain all of the benefits of the bargain contemplated by this I
interest and shah survive my death or disability.
H. In the event that prior to the consummation of the t
Assigned Payments, or any portion thereof, the Assignment f
this Agreement regarding the payments to be assigned shall
NOTARY PAGE 03/39
d by law Assignee and i intend to create a security
state designated in Paragraph F below, in my rights
been assigned to Assignee as General Intangibles
designated in paragraph F below. This Agreement
iterest secures payment of the rights assigned and
:Ignee may direct any account debtor, obligor on an
or Annuity Issuer, to make periodic payments directly
3. Assignee may file a UCC-1 financing statement to
y law, this Agreement shall be governed by and
of the Assignor on the date of this Agreement.
its or causes of action arising out of or relating to this
ach thereof, shall be settled by binding arbitration
tmand for arbitration shall be filed in writing with the
n Association offices in your state of residence. The
dente. The arbitration shall be held before a single
.ion Rules of the American Arbitration Association in
very, specifically including interrogatories, production
the arbitrator and to the extent permitted shall be
!les of Civil Procedure.
after the claim, dispute or other matter in question
after the date when institution of legal or equitable
stion, would be barred by the applicable statute of
11 include, by consolidation or joinder or in any other
iment, except by written consent of the parties hereto,
ed by the entity sought to be joined. Consent to
nstitute consent to arbitration of any claim, dispute or
t or with a person or entity not named or described
:meats to arbitrate with an additional person or entity
tally enforceable in accordance with applicable law in
figment may be entered upon It In accordance with
rbitrator shall identify the substantially prevailing party
prevailing party,
piicable state law regarding the transfer of structured
parties will be governed in accordance with the laws
fie payee is the proper venue to bring any cause of
rriey with full powers of substitution to do all acts and
rd any and all rights I have under the Settlement
?ithout limitation, the power to endorse checks, drafts
lent instructions and/or beneficiary designations and
Attomey-in-Fact is necessary or expedient for it to
insection. This power of attorney is coupled with an
aaction contemplated hereby I receive any of the
shall be reduced in like amount and the terms of
deemed to be adjusted accordingly. In the event
07/16/2009 09:05 7174230051
E-I_ITE NOTARY PAGE 04/39
Assignee receives or otherwise comes Into possession of any of the Periodic Payment(s) or portion(s) thereof which
are not included in the payments being absolutely assigned to Assignee hereunder, Assignee shall forward such
amount(s) to me at the address set forth above within seven (7) days of receipt of such amount(s).
1. Assignee shall be entitled to discharge any adver+
Payments whether or not such adverse claims are disclow
written notice to Assignor, pay any and all amounts necessa
an escrow account, instruct the escrow agent to pay any and
adverse claims, and the Assignment Price shall be reduced
may include disclosed amounts to be deducted by Assignee f
for Peachtree Finance Company, LLC, to enable Assignor to
its encumbrance on a portion of the Assigned Payments, whlc
transaction(s) consummated prior to the effective date of the
released for the transaction contemplated herein to be consur
claims against Assignor or any of the Assigned
Assignee may, provided Assignee furnishes prior
or, if the Assignment Price has been deposited into
amounts necessary to discharge such liens or other
r the amount of any such payment, Adverse claims
n the Assignment Price to pay Assignee, as servicer
Stain Peachtree Finance Company, LLC's release of
portion of Assigned Payments relate to prior transfer
rpllcable transfer act(s) which encumbrance must be
J. I know that it will take some time for the Settlement bligor and the Annuity Issuer to receive and process
the court order once it is granted. I would like to receive the Assignment Price or a portion thereof as soon as
possible thereafter. Accordingly, I hereby request Assignee to pay me a portion of the Assignment Price as soon as
possible after the court order is granted and authorize Assignee to hold in escrow an amount it deems necessary or
advisable from the Assignment Price (the "Escrow Amount") until all conditions precedent have been satisfied,
Including, without limitation, the receipt by Assignee of the Settlement Obligor and the Annuity Issuer's
acknowledgment of the terms of the court order in writing an their agreement to honor and comply with same.. At
such time or earlier as Assignee may determine, 1 understand that Assignee will send the Escrow Amount to me
minus any Assigned Payments that the Annuity Issuer and/or Settlement Obligor sent to me while the Settlement
Obligor and the Annuity issuer were processing the court order.
K. This Agreement shall take effect on the date it is
prescribed by applicable statutory law.
L. All disclosure statements are a material part of this
In witness whereof I hereunto set my hand.
by me (the Assignor) or on such later date
and shall be read in pari materla herewith.
K. HlppensTeei a/k/a Sranden HI
STATE OF?
COUNTY QQF?
8 01 -
On the day of , in i - L5' appeared Brandon K. Hippensteel, iesrssrral
to be the Individual(s) whose name(s) is (are) r n eel
he/she/they executed the same In hislher/their capacity(ies),
the individual(s), or the person upon behalf of which the indh
NNINI?T? III?Cp1NiY
?pMllrl?r?? AI?l. lM!
My Commission expires on
Accepted:
Settlement Funding, L.L.C.
year before me, the undersigned, personally
proved to me on the basis of satisfactory evidence
ie within instrument, and acknowledged to me that
d that by his/herltheir signature(s) on the instrument,
al(s) acted, executed the instrument.
i-,,
PLEASE DO NOT SIGN THIS
DOCi]M'ENT UNTIL 07/15/2009
Title:
Date:
07/16/2009 09:05 7174230051 ELITE NOTARY PAGE 05/39
IN THE COURT OF COMMON PLEAS OF
PETITION OF SETTLEMENT
FUNDING LLC d/b/a PEACHTREE
SETTLEMENT FUNDING TO No.
TRANSFER STRUCTURED
SETTLEMENT PAYMENT RIGHTS
COUNTY, PENNSYLVANIA
Payee's Affidavit i Support of
Petition to Transfer Structured Settlement Rights
I, Branden K. Hippensteel a/k/a Branden Hippensteel, the payee, verify that the
statements below are true and correct:
L Payee's name, address and age: Branden . Hippensteel a/k/a Bianden Hippensteel
residing at 121 Spur Road Carlisle, PA 17013-950 and I am 19 years old.
2. Marital Status:
_x Never Married; Married; Separated; Divorced
If married or separated, name of spouse:
3. Minor children and other dependents:
Names, ages, and places of residence:
Me.
4. Income.-
(a) Payee's monthly income and sources: I aril GurrentOy ernpjoyed as a car washer for
r......3- I-...i 1T.11-1111-4..........r.-_ .- _-_ -r e.1 ^^^ - _. .. . .... _
9
Iq
07/16/2009 09:05 7174230051 ELITE NOTARY PAGE 06/39
March 2024-, and $146,684.90 in March 2029.
(b) If presently married, spouse's monthly income and sources:
5. Child support, alimony or alimony pende to life:
Obligation to pay: Yes _x,__ No
If yes, state the amount of the obliga on, to whom payable, and whether there are
arrearages:
6. Previous transfers:
Have you previously filed a petition to trans r payment rights under the structured
settlement that is the subject of this petition? ....._x Yes _ No
If yes, for each petition that you filed,
(a) If the transfer was submitted for courl approval, list the court, the case caption and
case number, and state whether the c urt approved or disapproved the transfer:
rmirt of (nminnn A1PAC of riimho-Aa Il 0e n "+%, Usr..,?.,t T- D_.
08-7530: Anuroved.
(b) If the transfer was approved,
I 07/16/2009 09:05 7174230051 ELITE NOTARY PAGE 07/39
(i) State the name of the transferee an identify (listing due dates and payment
amount(s), the payments involved in a transfer: Settlement Funding. LLC; lump
(ii) State the amount of money and the manner in which the money was used:
(c) Have you ever transferred payments ithout court approval? If so, please
explain: n/a
7. Reasons for transfer:
Describe in detail your reasons for the propo ed transfer, including an explanation as to
why a sale of a lesser amount of the structure settlement will not better serve your
irlnronrnT rim nitrron4ltr li A-ft .iAt1% - et: 1 a. A. . f -1- --A ..- a-4- r'. 6....... ....l___
accomplish this goal.
8. Payment of debts: If you seek the transfe in order to pay debts, list each debt,
including the name of the creditor and the amount p sently owed: n/a
07/16/2009 09:05
7174230051
V
I verify that the statements made in this
false statements herein are made subject to the
falsification to authorities.
DATE:„Ztx) IS1?10
E
NOTARY
PAGE 08/39
it are true and correct. I understand that
of 18 Pa,C_S. §4904, relating to unsworn
q/4/OL 3---4-
K. Hippensteel aWn Branden HippenstecI
07/16/2009 09:05
7174230051
Payee: Branden K. Hippensteel
PA
A. Amounts and due dates of the
be transferred: Lump sum payr
or about March 11, 2011; and
11, 2014.
EiLITE NOTARY
PAGE 25/39
nden Hippensteel; resident of:
uctured settlement payments to
its as follows: $40,000.00 due on
6,650.00 due on or about March
B. Aggregate amount of such paym
: $56,650.00
C. (1) Discounted present value of s ch payments: $51,992.67
(2) The discount rate used in dote mining such discounted present
value: 3.40 percent as of July 6, 2009.
D. Gross amount payable to the Payee. in exchange for such
payments: $34,997.56
E.
F.
G.
H.
Itemized listing of all brokers'
application or processing ft
administrative charges, legal
commissions, fees, costs, exper
Payee or deductible from the gn
the Payee: Legal Fees: $2,000.00;
Net amount payable to Payee
fees, costs, expenses and cl
minus any advances made to
Payee.
The quotient, expressed as a per
net payment amount by the d
payments: 63.08%
Amount of any penalty and the a
damages, inclusive of penalties,
of any breach of the transfer agr
An estimate of the Administrati
Annuity Owner and or the Ani
transferee (not the consumer) as
National Life Insurance Compai
Company M $500.00
commissions, service charges,
as, closing costs, filing or
fees, notary fees and other
3es and charges payable by the
ss amount otherwise payable to
Processing Fee: $200.00
deduction of all commissions,
described above: $32,797.56
against the amount payable to
ntage, obtained by dividing the
:ounted present value of the
e amount of any liquidated
i by the Payee in the event
by the Payee: NONE
,e fee(s) being charged by the
city Issuer to be paid by the
a result of the transfer: Western
y f/k/a AIG Annuity Insurance
07/16/2009 09:05 7174230051 ELITE NOTARY PAGE 26/39
A
Payee acknowledges receipt of, and oknowledges to have read and
understood, the above disclosure state ent and information required to
be disclosed by Payee's pplicable state statute(s).
Initials:,,, H
By signing below you are confirming
disclosure at least 10 days prior to ei
I. 1N' c' • q0, 3-&L- `/
Branden K. Hippensteel alkla Brandon
71K1 ? 1 s ad
Date
you received a copy of this
ng your transfer agreement.
ippensteel
07/16/2009 09:05 7174230051
? w •
E
Payee: Brandon K. Hippensteel
NOTARY
Branden Hippensteel
PAGE 35/39
IMPORTANT NOTICE: You are stro gly urged to consult with an
attorney who can advise you of the p tential tax consequences of this
transaction.
I acknowledge receipt of the above
By signing below you are confirming that you received a copy of this
notice at least 10 days prior to executing your transfer agreement.
Brandon K. Hippensteel a/k/a Brandon ippensteel
-3,1?,
Date - ?.
07/16/2009 09:05 7174230051 E- ITE NOTARY
ACKNOWLEDGEMENT PA
Payee: Brandon K. Hippensteel ?/kla Brandon Hippensteel
(Please initial the fol
I expressly waive independent legal adv
the transfer, including considerations
transfer,
(initials)
Brandon K. Hippensteel alkla Branden ?
Date
9
U1
ng statement)
PAGE 37/39
ice regarding the implications of
of the tax ramifications of the
lippensteel
.,
T OF COMMON PLEAS OF CU BERLAND COUNTY, PENNSYLVANIA
IN THE COUR
IN RE: PETITION OF SETTLEMENT
FUNDING, LLC d/b/a/ No.
PEACHTREE SETTLEMENT
FUNDING TO TRANSFER
STRUCTURED SETTLEMENT
PAYMENT RIGHTS
(PAYEE, BRANDEN K.
HIppENSTEEL)
CERTIFICATIONIOF COUNSEL
Ronald E. Reitz, attorney for Settlement Funding LLC d/b/a
hereby sets forth the following:
Peachtree Settlement Funding,
Ronald E. Reitz, am counsel of record in this
1. I.
LLC d/b/a Peachtree Settlement
matter for Settlement Funding,
Funding.
Provided to me by Settlement
2, Based on materials
Funding, and upon reasonabl investigation and inquiry,
Payee, the transfer set forth
discussions with tie
including my
ect Petition comp lies with all requirements of the
in the subj
40 P.S. § 4001-4009, and
Structured Settlement Protection Act,
does not contravene any applicable Federal or State statute or
re ulation, or order of any court or administrative authority.
g of MY
is made to the best
3, This Certification
a .C.P. 229.2.
knowledge, information and belief pursuan t
Ronald E. Ref z
s 1P
misconception, stn"'""
Contrary to popular underlying tort CIE
voluntary settlement of an roved, cou
settlements are typically court approved,
spendthrift trust, this is sin
court as a form of sp to settle
convenient and eme t effective
the size of the s
there is disagr her than their true v
payments is generally higher carriers V
a cost effective way for insuraarden variety
terms and are often used for gated settlemer
simply the result of a neg
substantive court involvement.
are often
Anti-assignment provisions t
the mistaken belief that they are required
receipt" tax doctrine. Were theyl mtendedei
spendthrift trust nor a Payments' Ks
receive structure settlement
letter rulings fro
reading of several p i
the constructive receipt to required to prev(
assignment provision is with the passage of 26 USC Section 584
clarification of existing law - that a sale of
alter the tax treatment applicable to the
this, anti-assignment clauses remain a ve
in many settlement agreements.
The one common failing of structured
once established they cannot be alter( in the I
structured settlement recipients to restn
structured settlement
payments, a secondary market flouris]
hearings before the Ways and Means
making it clear that structured seettleo f
consequence would attach. As p
a transfer of ie structured
was ein the be
finding that Settlemen?
officers of the petitioner,
referenced above SC Sectionworked
5891 eal
passage of 26 has a `-
Almost every state now
unprecedented levels of consumer s
sell a structured settlement. This is s
the structured settlement,
and defendant land
between plaintiff
ically result from a
;d settlements tYp
that structure
be
im. While many dated by the
,, ordered or S her`'' eamett ements are a
ply not true. Particularly where
)ersonal injury claims, p
;ttlement as the perceived value of future
put, structured settlements are
glue. Simply ur claims on favorable
settle personal inj Y
ases. In the vast majority of cases they are
t between plaintiff and defendant with no
;d in structured settlement agreements under
prevent the application of the "constructive
t provisions were not included
of the right to
s s a restriction on alienation
ult of an overly cautious
a are a res
Lher they
n the early 19805s and a mis whethera an nant>-
ny lingering doubts as to
it constructive receipt were leaar - by dispelled w y 2oo a
1, et seq. which made 1
transfer of structure payments rights would not
rnnuitant or annuity issuers. Notwithstanding ti ae of common practice and are hence present
le.
ettlements is that they are
secondary ma ketbfor
1. As a consequence, a
?90's. Because of the significant demand from
when they receive these
,ture/refinance how and
the united States Congress, after
ed. in 2002, et seq.
ommittee, passed 26 USC Section 5891,
nts could be transferred and that noreadverse
that
roviding this clarification, Congress
Went rights be pursuant to a state transfer statute
tand
t interest of the selling annuitant, hearing
Funding, appeared at the congressional
in the late 90's and early 20 o0ndtthe bcountry
d Y to pass state transfer laws rovides for
ructured settlement statute which p permitted to
feguards prior to an individual being p
notwithstanding the fact that the ample n gotiat on
above, is typically the result o end( simple p negotiation
that
?ot as consequence of the indep
-EXHIBIT
1 401 Ii
the recipient is unable to manage their financial of
statutes and the provisions of 26 USC Section 589
and state legislators recognized the need for li
structured settlement payments. Provided that the i
should permit the transfer of the structured sett.
transfer is in the best interest of the payee.
sirs. The structured settlement transfer
, et seq. make it clear that both federal
fluidity in the secondary market for
ransfer statute is adhered to, the court
ement payments provided that such
FlIED-OFTICF
OF THE Pl-',0' T C oNoWy
2009 JUL 21 Ail 10* 41
CUB r''Y
-7 f (/ - A
el 7f 31y3'
A Li ;?' ? ;k ?
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA
IN RE: AMENDMENT TO PETITION OF
SETTLEMENT FUNDING, LLC
d/b/a/ PEACHTREE No. 2009-4851
SETTLEMENT FUNDING TO
TRANSFER STRUCTURED
SETTLEMENT PAYMENT RIGHTS
(PAYEE, BRANDEN K.
HIPPENSTEEL)
AMENDMENT TO PETITION TO TRANSFER
STRUCTURED SETTLEMENT PAYMENT RIGHTS
Petitioner, Settlement Funding, LLC d/b/a Peachtree
Settlement Funding, hereby submits the following Amendment to
Petition to Transfer Structured Settlement Payment Rights
pursuant to the Structured Settlement Protection Act, 40 P.S. §§
4001-4009 ('the Act"), and Pa.R.C.P. 229.2, and in support
states:
1. This amendment is filed pursuant to Local Rule
208.3(a)(2), regarding whether a judge has ruled on any
issue in the same or related matter.
2. Settlement Funding, LLC, and Payee, Branden
Hippensteel, filed a previous transfer petition with
this Honorable Court, upon which a hearing was
conducted on or about January 30, 2009. This matter
was docketed at No. 08-7530.
3. This Court approved the transfer in that matter, which
was heard by Hon. Kevin Hess.
Respect ubmitted,
Swartz LLC
By:
Ronald E. IMPrtz
Attorney for Transferee
Page 1 of 2
July 24, 2009
Curt Long, Prothonotary
Page 2 of 2
Western National Life Insurance Company f/k/a
AIG Annuity Insurance Company
"Structured Setttlements"
205 East 10' Avenue
Amarillo, TX 79101
Kurt Moody, Esquire
Structured Settlements-In-House Counsel
Peachtree Settlement Funding
3301 Quantum Boulevard, Second Floor
Boynton Beach, FL 33426
Nicole Lanzalotti, Esq.
Drinker, Biddle & Realth, LLP
1000 Westlakes Drive
Suite 300
Berwyn, PA 19312
Branden K. Hippensteel
121 Spur Rd
Carlisle, PA 17013-9505
CERTIFICATE OF SERVICE
I hereby certify that a true and correct copy of the
foregoing AMENDMENT TO PETITION TO TRANSFER STRUCTURED
SETTLEMENT PAYMENT RIGHTS was served by certie l, return-
receipt requested, postage pre-paid, on this y of July,
2009 on:
American General Assignment Corporation
Att'n: Dona Clements, Legal Assistant
205 East 10th Ave.
Amarillo, TX 79101
("Settlement Obligor")
Western National Life Insurance Company f/k/a
AIG Annuity Insurance Company
Structured Settlements
205 East 10th Ave.
Amarillo, TX 79101
("Annuity Issuer")
and by regular U.S. mail, postage prepaid to:
Kurt Moody, Esquire
Structured Settlements-In-House Counsel
Peachtree Settlement Funding
3301 Quantum Boulevard, Second Floor
Boynton Beach, FL 33426
("Transferee")
Branden K. Hippensteel
121 Spur Rd.
Carlisle, PA 17013-9505
("Payee")
Swartz laAVbWl
By:
Ro1"FTd-E - R At z
Attorney for nsferee
Page 2 of 2
FILED-
OF THE
2 0 9 9 JU L 23 A i I S": a
;>s t
" N.
at
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA
IN RE: AMENDMENT TO PETITION OF
SETTLEMENT FUNDING, LLC
d/b/a/ PEACHTREE No. 2009-4851
SETTLEMENT FUNDING TO
TRANSFER STRUCTURED
SETTLEMENT PAYMENT RIGHTS
(PAYEE, BRANDEN K.
HIPPENSTEEL) ,
AMENDMENT TO PETITION TO TRANSFER
STRUCTURED SETTLEMENT PAYMENT RIGHTS
Petitioner, Settlement Funding, LLC d/b/a Peachtree
Settlement Funding, hereby submits the following Amendment to
Petition to Transfer Structured Settlement Payment Rights
pursuant to the Structured Settlement Protection Act, 40 P.S. §§
4001-4009 ("the Act"), and Pa.R.C.P. 229.2, and in support
states:
1. This amendment is filed pursuant to Local Rule
208.3(a)(2), regarding whether a judge has ruled on any
issue in the same or related matter.
2. Settlement Funding, LLC, and Payee, Branden
Hippensteel, filed a previous transfer petition with
this Honorable Court, upon which a hearing was
conducted on or about January 30, 2009. This matter
was docketed at No. 08-7530.
3. This Court approved the transfer in that matter, which
was heard by Hon. Kevin Hess.
Respectfully submitted,
Swartz C p e 1 C
By:
Ronald E. Fitz
Attorney for Transferee
Page 1 of 2
CERTIFICATE OF SERVICE
I hereby certify that a true and correct copy of the
foregoing AMENDMENT TO PETITION TO TRANSFER STRUCTURED
SETTLEMENT PAYMENT RIGHTS was served by certified mail, return-
receipt requested, postage pre-paid, on this -,? - day of July,
2009 on:
American General Assignment Corporation
Att'n: Dona Clements, Legal Assistant
205 East 10th Ave.
Amarillo, TX 79101
("Settlement Obligor")
Western National Life Insurance Company f/k/a
AIG Annuity Insurance Company
Structured Settlements
205 East 10th Ave.
Amarillo, TX 79101
("Annuity Issuer")
and by regular U.S. mail, postage prepaid to:
Kurt Moody, Esquire
Structured Settlements-In-House Counsel
Peachtree Settlement Funding
3301 Quantum Boulevard, Second Floor
Boynton Beach, FL 33426
("Transferee")
Branden K. Hippensteel
121 Spur Rd.
Carlisle, PA 17013-9505
("Payee")
Swartz b 11 LLC
By:
Ronald E. Reitz
Attorney for Transferee
Page 2 of 2
+ IN
JUL 2 3 2009
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA
IN RE: PETITION OF SETTLEMENT
FUNDING, LLC d/b/a/
PEACHTREE SETTLEMENT No. 44d
FUNDING TO TRANSFER STRUCTURED SETTLEMENT
PAYMENT RIGHTS
(PAYEE, BRANDEN K.
HIPPENSTEEL)
INITIAL ORDER OF COURT
On this 304 day of ???, 2009, it is ordered that a
hearing on this Petition to Transfer Structured Settlement
9
a as
Payment Rights will be held on zt?1 3, in
Courtroom at 164,3o o'clock. The payee
shall bring income tax returns for the prior two (2) years to
the hearing.
Within seven (7) days, the transferee shall give notice of
the hearing date to the payee, the structured settlement
obligor, the annuity issuer, the payee's spouse and any person
receiving child support, alimony, or alimony pendente lite. The
transferee shall attach a certificate of service to the notice
of hearing date. A copy of the notice with the certificate of
service shall be filed with the court prior to the hearing.
BY THE COURT:
{A??4 L
TFC E ! ?;?,RY
2099 JU 3 l A0 i : J? 9
-?/
X. Moody.
lu . l.,?Z?cle?; ? 94?
Arnim i t 04-4.). dy p
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
IN RE: PETITION OF SETTLEMENT
FUNDING, LLC d/b/a/
PEACHTREE SETTLEMENT No. 2009-4851
FUNDING TO TRANSFER
STRUCTURED SETTLEMENT
PAYMENT RIGHTS .
(PAYEE, BRANDEN K.
HIPPENSTEEL)
NOTICE OF HEARING ON PETITION TO
TRANSFER STRUCTURED SETTLEMENT PAYMENT RIGHTS
To: American General Assignment Corporation
Attn: Dona Clements, Legal Assistant
205 East 10th Avenue
Amarillo, TX 79101
("Settlement Obligor")
Western National Life Insurance Company f/k/a
AIG Annuity Insurance Company
Structured Settlements
205 East 10th Ave.
Amarillo, TX 79101
("Annuity Issuer")
Kurt Moody, Esquire
Structured Settlements-In-House Counsel
Peachtree Settlement Funding
3301 Quantum Boulevard, Second Floor
Boynton Beach, FL 33426
("Transferee")
Branden K. Hippensteel
121 Spur Rd.
Carlisle, PA 17013-9505
("Payee")
You are hereby given notice that Settlement Funding
LLC has filed a petition to transfer structured settlement
payment rights. A hearing in this matter has been
scheduled on Thursday, September 3, 2009 at 10:30 a.m., in
Courtroom No. 4 before Hon. Kevin A. Hess, Cumberland
County Courthouse, One Courthouse Square, Carlisle, PA
17013.
You are entitled to support, oppose or otherwise
respond to the payee's petition, either in person or by
counsel, by filing written comments with the court prior to
the hearing or by attending the hearing.
Settlement Funding LLC
Date
c/o Ronald E. Reitz
Swartz Campbell LLC
600 Grant Street
4750 U.S. Steel Tower
Pittsburgh, PA 15219
(412) 232-9800
CERTIFICATE OF SERVICE
I hereby certify that a true and correct copy of this
NOTICE OF HEARING ON PETITION FOR TRANSFER OF STRUCTURED
SETTLEMENT _ day of August, 2009, on:
American General Assignment Corporation
Attn: Dona Clements, Legal Assistant
205 East 10th Ave.
Amarillo, TX 79101
("Settlement Obligor")
Western National Life Insurance Company f/k/a
AIG Annuity Insurance Company
Structured Settlements
205 East 10th Ave.
Amarillo, TX 79101
("Annuity Issuer")
and by regular U.S. mail, postage prepaid to:
Kurt Moody, Esquire
Structured Settlements-In-House Counsel
Peachtree Settlement Funding
3301 Quantum Boulevard, Second Floor
Boynton Beach, FL 33426
("Transferee")
Branden K. Hippensteel
121 Spur Rd.
Carlisle, PA 17013-9505
("Payee")
Swartz C p 1 LLC
By.
Ronal E. Reitz
Attorney for Petitioner
`,F ?FEE << DIARY
?,T\r
cull
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA
IN RE: PETITION OF SETTLEMENT
FUNDING, LLC d/b/a
PEACHTREE SETTLEMENT ?1 [? ¢
FUNDING TO TRANSFER No. a vV -- T u 5
STRUCTURED SETTLEMENT
PAYMENT RIGHTS
(PAYEE, BRANDEN K.
HIPPENSTEEL)
FINAL ORDER
On this '?-0 day of September, 2009, it is ordered that the
Petition to Transfer Structured Settlement Payment Rights is
granted.
The court specifically finds that:
(1) the payee, Branden K. Hippensteel a/k/a Branden
Hippensteel, has established that the transfer is in the best
interests of the payee or the payee's dependents, taking into
account the welfare and support of payee's dependents, if any;
(2) based on the certification by an attorney for the
transferee, Settlement Funding, LLC, and the court having not
been made aware of any statute, regulation or order that would
be incompatible with the proposed transfer, the transfer will
not contravene any Federal or State statute or regulation, or
the order of any court or responsible administrative authority;
(3) the transfer complies with the remaining requirements
of the Structured Settlement Protection Act, including Sections
3 (a) (2) , 3 (a) (4) , 3 (a) (5) and 3 (a) (6) ;
(4) the payments that are to be transferred are designated
as follows: lump sum payments of $40,000.00 due on or about
March 11, 2011 and $16,650.00 due on or about March 11, 2014
(the "Assigned Payments").
(5) the Structured Settlement Obligor is American General
Assignment Corporation, and the Annuity Issuer is Western
National Life Insurance company f/k/a AIG Annuity Insurance
Company. The Structured Settlement Obligor and the Annuity
Issuer shall forward the Assigned Payments, when due, to
Settlement Funding, LLC, at P.O. Box 116476, Atlanta, GA 30368-
6476 or to such other address as designated by Settlement
Funding, LLC.
(6) the terms of this order shall survive the death of the
payee and shall be binding on the payee's heirs, beneficiaries
and assigns.
(7) the payee shall receive from the transferee the gross
amount of $34,997.56.
J.
BY THE COURT:
OF i l it }
2009 SEP --3 AN D 58