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IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA
IN RE: PETITION OF SETTLEMENT
FUNDING, LLC d/b/a/
PEACHTREE SETTLEMENT No
FUNDING TO TRANSFER
STRUCTURED SETTLEMENT
PAYMENT RIGHTS
(PAYEE, WILLIAM A.
MAXWELL)
0 9- ?-757011- c?v / 4e<?
PETITION TO TRANSFER
STRUCTURED SETTLEMENT PAYMENT RIGHTS
Petitioner, Settlement Funding, LLC d/b/a Peachtree
Settlement Funding, hereby submits the following 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. Pursuant to Rule 229.2, the "Transferee" and Petitioner
herein is Settlement Funding, LLC d/b/a Peachtree Settlement
Funding, a Georgia Limited Liability Company with offices
located at 3301 Quantum Blvd., Second Floor, Boynton Beach,
Florida 33426.
2. The "Payee" is William A. Maxwell, an adult
individual whose dare of birth is January 19, 1952, and who
resides at 632 North West Street, Carlisle, Pennsylvania 17013.
3. This Court has jurisdiction to determine the merits of
this petition pursuant to the Act because the Payee is domiciled
in Cumberland County, Pennsylvania. 40 P.S. § 4004.
I if
4. As the result of a personal injury claim, Payee is
entitled to receive 240 monthly payments each in the amount of
$2,290.40 commencing on February 15, 1995 through and including
January 15, 2015, and then continuing for life thereafter (an
Income Verification Letter reflecting these payments is attached
hereto as Exhibit "A").
5. By operation of a Uniform Qualified Assignment, the
obligation to make the monthly payments is held by Travelers
Casualty & Surety Company, the Structured "Settlement Obligor"
as defined by 40 P.S. 4002. Travelers Casualty & Surety
Company is located at 2711 Centerville Road, Suite 400,
Wilmington, Delaware 19808.
6. The obligation was funded through the issuance of an
annuity by ING Life Insurance and Annuity Company (the "Annuity
Issuer"). ING Life Insurance and Annuity Company is located at
ING Americas, One Orange Way, Windsor, Connecticut 06095.
7. On December 12, 2009, Payee 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
for the assignment of Payee's right and interest in receiving 59
monthly payments each in the amount of $600.00 commencing on
Page 2 of 5
a ,
March 15, 2010 through and including January 15, 2015, 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 forth in further detail in the
Affidavit, the purpose of this transaction is to purchase a
vehicle. (Exhibit "C", 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 by 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 ($20,02$.66), 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 25.50%
per year.
12. Payee has been provided, and has acknowledged receipt,
at least 10 days prior to receipt of 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
Pursuant to Rule 229.2(d), Settlement Funding, LLC d/b/a Peachtree Settlement Funding is the Petitioner and has
attached a Verification in support thereof. Pursuant to Rule 229.2 (c). the Payee is also a party to this petition, as
reflected in the caption, but is not represented by counsel for Petitioner.
Page 3 of 5
acknowledgement of the receipt of the § 4003 (b) Notice is
attached as Exhibit "E".
13. Payee has been advised to seek independent legal
advice regarding the implications of the transfer, including the
tax ramifications of the transfer, as reflected in the
"Acknowledgment" signed on December 12, 2009, attached hereto as
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 applicable 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. Transferee and Payee respectfully request that the
Court sign an order approving this transfer which constitutes a
"qualified order" for purposes of 26 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.
17. A brief d=_scussion regarding the non-applicability of
anti-assignment provisions is attached for the Court's
convenience, as Exhibit "H" herein.
18. Payee acknowledges that Swartz Campbell LLC has not
been engaged to render professional advice with respect to the
Page 4 of 5
advisability, or the implications of the transfer, including the
tax ramifications cf the transfer. Counsel has been enaacipd
solely to prepare and present the within Petition, based upon
Payee's independent determination and advice obtained from
others, with respect to the advisability and ramifications of
the transfer.
19. Pursuant to Cumberland County Local Rule 208.3(a)(2),
no judge of this County has ruled on any issue in the same or
related matter.
WHEREFORE, Settlement Funding, LLC, and William A. Maxwell,
pray that this Honorable Court grant this Petition to Transfer
Structured Settlement Payment Rights.
Respectfully submitted,
Swartz Campbell LLC
By: 74 ?-
Ronald E. Reit
Attorney for Transferee
Page 5 of 5
VERIFICATION
I, Kurt Moody, In-House Counsel 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.
ocl
Date:
r KURT MOODY
CERTIFICATE OF 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 21st day of December, 2009 on:
Travelers Casualty & Surety Company
Corporation Service Company
Att'n: SOP Department
2711 Centerville Rd., Suite 400
Wilmington, DE 19808
("Settlement Obligor")
ING Life Insurance and Annuity Company
Attn: Ida I. Colon
ING Americas
One Orange Way
Windsor, CT 06095-4774
("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")
William A. Maxwell
632 N. West St.
Carlisle, PA 17013-1966
("Payee")
Swartz Campbell LLC
By:
r?
Ronald E. Reitz
Attorney for Transferee
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, WILLIAM A. MAXWELL)
FINAL ORDER
On this day of , 2009, it is ordered that
the Petition to Transfer Structured Settlement Payment Rights is
granted.
The court specifically finds that:
(1) the payee has established that the transfer is in the
best interests of the payee taking into account the welfare and
support of payee's dependents;
(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: 59 monthly payments each in the amount of $600.00
commencing on March 15, 2010 through and including January 15,
2015, to Settlement Funding, LLC (the `Assigned Payments").
(5) the Settlement Obligor is Travelers Casualty & Surety
Company, and the Annuity Issuer is ING Life Insurance and
Annuity 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 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 $22,228.66.
BY THE COURT:
, J.
04/03/2006 16:07 FAX 7172332667
T raveli
Pamela W. Stabbins
MaT sfly owu*
(880) 277 2709
(860) 277.66M (fax!
One Tower Square
Hartford, OT 06183
INCOME VERMCA' XON LETTER
Annuitant: William Maxwell
Contract: WS20081 I A
Owner: Travelers Casualty and Surety Cottapany
Issuer: NO - ALI:A.C
'his is to confirm the fall n a n is will be made to Williams Maxwell:
$2,290.40 per month guaranteed for 240 months commencing February 15, 1995 through and
including March 15, 2015.
X1002/002
Benefks
Letter
$2,290.40 per month guaranteed for the life of the Annuitant Commencing February 15, 2015, and
payable each month as long as the Annuitant is living. (If the Anmuitant is deceased prior to
February 15, 2015, no payments will be made)
O
ANTHONY 3TEFANON
03/05/2007 20:10 7177320282 SUSAN SMITH PAGE 06/45
ABSOLUTE ASSIGNMENT AGREEMENT
(THE "AGREEMENT"
December 12, 2009
1, William A. Maxwell alkla William Maxwell, (01", "Me" or "Assignor") residing at 632 N. West St Carlisle, PA
17013-1985 am entitled to 240 monthly payments each in the amount of $2,290 40 commencing on February 15,
1995 through and including January 15, 2015 (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 February
1, 1995 (the "Settlement Agreement') The Periodic Payments are due to me from Travelers Casualty & Surety
Company (the "Settlement Obligor") under the terms of the Settlement Agreement and are being funded by an
annuity issued by ING Life Insurance and Annuity Company (the "Annuity Issuer") bearing annuity contract
number WS200811A
A i hereby sell, assign and convey to Settlement Funding, L L C (the "Assignee") and its assigns through an
assignment all of my rights to and interest in and to the following payments due or to become due under the
Settlement Agreement.
59 monthly payments each in the amount of $600.00 commencing on March 15, 2010 through
and including January 15, 2016 (the "Assigned Payments"), and
In consideration for this assignment; Assignee shall pay to me the sum of. $22,228.66 (the "Assignment Price")
B i hereby make the following unconditional representations, warranties and promises.
1 No one other than me has any interest or claim 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 affect 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 B 1 and 13 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 estate or any of my heirs
4 Failure by the Settlement Obligor or Annuity Issuer to forward one or more Assigned Payments to
Assignee as a result of any act by me, my estate or any of my heirs
5 Failure by me to forward promptly to Assignee any Assigned Payment received by me from the
Settlement Obligor or the Annuity Issuer.
6 Failure by me to fulfill any other obligation of mitre 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 discretion, that there are no claims or interests of any kind or
nature whatsoever that do or may affect Assignee's rights to or interest in the Assigned Payments
and Assignee's ability actually to receive same on the dates and in the amounts set forth herein.
2 Assignee shall have received a final non-appealable court order, or a signed acknowledgment from
Settlement Obligor and the Annuity Issuer satisfactory to Assignee in its sole discretion (such court
order or acknowledgement together are hereinafter referred to as the "Order"), authorizing the
transfer by assignment of the Assigned Payments (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).
E Under this Agreement and only to the extent permitted by law Assignee and i intend to create a security
interest under Article 9 of the Uniform Commercial Code of the state designated in Paragraph F below, in my rights
to and interest in the Assigned Payments, which ri hts hav been ssigned to Assignee as General Intangibles
03/0512007 20:10 7177320282 SUSAN SMITH PAGE 07145
under Article 9 of the Uniform Commercial Code of the state designated.in Paragraph F below This Agreement
shall also function as a security agreement. This security interest secures payment of the rights assigned and
performance of my obligations under Paragraph B above. Assignee may direct any account debtor, obligor on an
instrument, including, without limitation, the Settlement Obligor or Annuity Issuer, to make periodic payments directly
to Assignee as contemplated by the Uniform Commercial Code Assignee may file a UCC-f financing statement to
perfect its rights hereunder
1= Except as otherwise required by applicable statutory law, this Agreement shall be governed by and
interpreted in accordance with the law of the state of residence of the Assignor on the date of this Agreement
ARBITRATION
Any and all controversies, claims, disputes, rights, interests, suits or causes of action arising out of or relating to this
Agreement and the negotiations related thereto, or the breach thereof, shall be settled by binding arbitration
administered by the American Arbitration Association. The demand for arbitration shall be filed in writing with the
other party to this Agreement and with the American Arbitration Association offices in your state of residence The
arbitration shall be held in the largest city in your state of residence The arbitration shall be held before a single
arbitrator selected in accordance with the Commercial Arbitration Rules of the American Arbitration Association in
effect at the time that the demand for arbitration is filed Discovery, specifically including interrogatories, production
of documents and depositions shall be at the discretion of the arbitrator and to the extent permitted shall be
conducted in accordance with, and governed by the Federal Rules of Civil Procedure
A demand for arbitration shall be made within a reasonable time after the claim, dispute or other matter in question
has arisen In no event, shall the demand for arbitration be made after the date when institution of legal or equitable
proceedings based on such claim, dispute or other matter in question, would be barred by the applicable statute of
limitations.
No arbitration arising out of or relating to this Agreement shall include, by consolidation or joinder or in any other
manner, an additional person or entity not a party to this Agreement, except by written consent of the parties hereto,
containing a specific reference to this Agreement and signed by the entity sought to be joined Consent to
arbitration Involving an additional person or entity shall not constitute consent to arbitration of any claim, dispute or
other matter in question not described in the written consent or with a person or entity not named or described
therein. The foregoing agreement to arbitrate and other agreements to arbitrate with an additional person or entity
duly consented to by parties to this Agreement, shall be specifically enforceable in accordance with applicable law in
any court having jurisdiction thereof.
The award rendered by the arbitrator shall be final, and judgment may be entered upon it in accordance with
applicable law in any court having Jurisdiction thereof. Such arbitrator shall identify the substantially prevailing party
and shall include legal fees and expenses for the substantially prevailing party-
This provision does not apply to the extent inconsistent with applicable state law regarding the transfer of structured
settlement payments in such case any disputes between the parties will be governed in accordance with the laws
of the domicile state of the payee and the domicile state of the payee is the proper venue to bring any cause of
action arising out of a breach of the agreement.
G I hereby grant to Assignee an Irrevocable Power of Attorney with full powers of substitution to do all acts and
things that I might do regarding the Assigned Payments and any and all rights I have under the Settlement
Agreement with respect to the Assigned Payments, including, without limitation, the power to endorse checks, drafts
or other instruments, the power to alter, edit and change payment instructions and/or beneficiary designations and
any other act which, in the sole discretion of Assignee as my Attorney-in-f=act is necessary or expedient for it to
obtain all of the benefits of the bargain contemplated by this transaction This power of attorney is coupled with an
interest and shall survive my death or disability
H In. the event that prior to the consummation of the transaction contemplated hereby I receive any of the
Assigned Payments, or any portion thereof, the Assignment Price shalt be reduced in like amount and the terms of
this Agreement regarding the payments to be assigned shall be deemed to be adjusted accordingly In the event
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)
03/05/2007 20:10 7177320282 SUSAN SMITH PAGE 08/45
I Assignee shall be entitled to discharge any adverse claims against Assignor or any of the Assigned
Payments whether or not such adverse claims are disclosed Assignee may, provided Assignee fumishes prior
written notice to Assignor, pay any and all amounts necessary or, if the Assignment Price has been deposited into
an escrow account, instruct the escrow agent to pay any and all amounts necessary to discharge such liens or other
adverse claims, and the Assignment Price shall be reduced by the amount of any such payment Adverse claims
may include disclosed amounts to be deducted by Assignee from the Assignment Price to pay Assignee, as servicer
for Peachtree Finance Company, LLC, to enable Assignor to obtain Peachtree Finance Company, LLC's release of
its encumbrance on a portion of the Assigned Payments, which portion of Assigned Payrn2nts relate to prior transfer
transaction(s) consummated prior to the effective date of the applicable transfer act(s) which encumbrance must be
released for the transaction contemplated herein to be consummated
J I know that it will take some time for the Settlement Obligor and the Annuity Issuer to receive and process
the court order once tt 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 and their agreement to honor and comply with same At
such time or earlier as Assignee may determine, I understand that Assignee will send the Escrow Amount to me
minus any Assigned Payments that the Annuity 15slJer 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 signed by me (the Assignor) or on such later date
prescribed by applicable statutory law
L All disclosure statements are a material part of this Agreement and shall be read in pari material herewith
In witness whereof I hereunto set my hand.
1 Liam A Maxwell a to Wiliam Maxwell
STATE OF ?COUNTY OR CITY O
On the **-- day ofi1k49^ -- in the yeara2441 before me. the undersigned, personalty
appeared William A. Maxwell, personally known to me or proved to me on the basis of satisfactory evidence to be
the individual(s) whose name(s) is (are) subscribed to the within instrument, and acknowledged to me that
he/shelthey executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the Instrument,
the individual(s), or the person upon behalf of which the Individual(s) acted, executed the instrument
Notary
My Commission expires an - L 4:0 f a
Accepted_
Settlement Funding, t...L.G.
Date: r
PLEASE DO I NO I' SIGN THIS
DOCUMEN-r UN I-ll, 12/1212009
NOTARIAL BEAL
SUSAN M SMITH
Notary Public
HAMPDEN TWP, CUMBERLAND COUN1y
My commission Explr91 May 14, 2012
03/05/2007 20:10 7177320282 SUSAN SMITH PAGE 09/45
[N THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA
PETITION OF SETTLEMENT )
FUNDING LLC d/b/a PEACHTREE }
SETTLEMENT FUNDING TO No.
TRANSFER STRUCTURED )
SETTLEMENT PAYMENT RIGHTS )
Payee's Affidavit in Support of
Petition to Transfer Structured Settlement Rights
I, William A. Maxwell a/k/a William Maxwell, the payee, verify that the statements
below are tine and correct:
1. Payee's name, address and age: William A. Maxwell a/k/a William Maxwell residing
at 632 N. West Street, Carlisle; PA 17013-1966 and I am 57 years old.
2. Marital Status:
Never Married; ---Married, Separated; X Divorced
if married or separated, name of spouse:
3. Minor children and other dependents:
Names, ages, and places of residence: No dependent children.
4. Income:
(a) Payee's monthly income and sources: I am retired and I receive $718.00 per
month from nay retirement pension. I will also continue to receive structured
settlement payments of 5800.00 per month through January 15. 2010. I will continue
to receive vayments in,the amount of $1,340.40 a month through February 2410 when
the payments will decrease to $740.10 a month throujah Januarv 2015.
If presently married, spouse's monthly income and sources: N/A
03105/2007 20:10 7177320282 SUSAN SMITH PAGE 10/45
5. Child support, alimony or alimony pendente llte:
Obligation to pay. Yes X_ No
If yes, state the amount of the obligation, to whom payable, and whether there are
arrealeges:
6. Previous transfers:
Have you previously filed a petition to transfer 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 court approval, list the court; the case caption and
case numbcr, and state whether the court approved or disapproved the transfer:
State of South Carolina. County of Lexington, In Re: Application of Settlement
Funding, LLC d/b/a Peachtree Settlement Funding, and William Maxwell for
Approval of Transfer of Structured Settlement Payment Rights Under S.C. Code
15-50-60, in the Court of Common Pleas, Case NO.06-CP-32-754.
The Court approved this matter.
State of South Carolina, County of Lexington, In Re: Application of Settlement
Funding, IA.C d/b/a Peachtree Settlement Funding, and William Maxwell for
Approval of'rransfer of Structured Settlement Payment Rights Under S.C. Code
15-50-60, In the Court of Common Pleas, Case NO, 06-0132-3716.
The Court approved this matter,
•
03/05/2007 20:10 7177320282 SUSAN SMITH PAGE 11/45
(b) 1f'the transfer was approved,
(i) State the name of the transferee and identify (listing due dates and payment
amount(s), the payments involved in the transfer: The transfcrcc was Settlement
Funding, LLC and the payments involved were 105 monthly payments each in the
arnount of $950,00 commencing on May 15, 2006 through and including January
15.2015,
For the December 2006 (second) transfer, the transferee was Settlement Funding,
LLC and the payments involved were 96 monthly payments each in the amount of
$540.40 commencing on February 15, 2007 through and including January 15,
2015.
(ii) State the amount of money and the manner in which the money was used:
I received approximately $38,720.32 in April of 2006, of which 1 used $35,000.00
to purchase property in Lexington, SC, $1,700,00 to pay propci-ty taxes, $2,000.00
to clear the land and install utilities.
1 received approximately $23,000-00 in December 2006, which i used to finish
clearing the land, lay the driveway and install a septic tank
(b) Have you ever transferred payments without court approval? NO. If so, please
explain:
03/0512007 20:10 7177320282 SUSAN SMITH PAGE 12/45
7. Reasons for transfer:
Describe in detail your feasons for the proposed transfer, including an explanation as to
why a sale of a lesser amount of the structured settlement will not better serve your
interests: l plan to use the entire proceeds from this transaction, approximately
$20,000.00, for the outright purchase of'a Dodge SL.T pick u12 truck. A sale of a lesser
amount will not be enough to accomplish my financial goals described above.
8. Payment of debts:
If yoti seek the transfer in order to pay debts, list each debt, including the name of the
creditor and the amount presently owed:
Debt Creditor Amount Owed
S
03/05/2007 20:10 7177320252 SUSAN SMITH PAGE 13/45
Verification
I verity that the statements made in this affidavit are true and correct. 1 understand that
false statements herein are made subject to the penalties of 18 Pa.C.S. §4904, relaiirig to unsworn
falsification to authotities..
DATE: i 7 -/Z -bt _
tilliam A. Maxwell a/Oa Ws liarn M ell
03/05/2007 20:10 7177320282 SUSAN SMITH PAGE 33/45
PENNSYLVANIA TRANSFER DISCLOSURE
Payee: William A. Maxwell a/k/a William Maxwell; resident of: PA
A. Amounts and due dates of the structured settlement payments to
be transferred: 59 monthly payments each in the amount of
$600.00 commencing on March 15, 2010 through and including
January 15, 2015.
B. Aggregate amount of such payments: $35,400.00
C. (1) Discounted present value of such payments: $32,506.47
(2) The discount rate used in determining such discounted present
value: 3.20 percent as of December 2, 2009.
D. Gross amount payable to the Payee in exchange for such
payments: $22,228.66
E. Itemized listing of all brokers' commissions, service charges,
application or processing fees, closing costs, filing or
administrative charges, legal fees, 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: Legal Fees: $2,000.00; Processing Fee: $200.00
F. Net amount payable to Payee after deduction of all commissions,
fees, costs, expenses and charges described above. $20,028.66
minus any advances made to Payee against the amount payable to
Payee.
G. The quotient, expressed as a percentage, obtained by dividing the
net payment amount by the discounted present value of the
payments: 61.62%
M. Amount of any penalty and the aggregate amount of any liquidated
damages, inclusive of penalties, payable by the Payee in the event
of any breach of the transfer agreement by the Payee: NONE
03/05/2007 20:10 7177320282 SUSAN SMITH PAGE 34/45
Payee acknowledges receipt of, and acknowledges to have read and
understood, the above disclosure statement and information required to
be di losed by Payee's applicable state statute(s).
Initials:
By signing below you are confirming that you received a copy of this
disclosure at least 10 days prior to executing your transfer agreement.
iUiarn A. Maxweil alkla William
Maxwell
. '17-24
Date
T
03/05/2007 20:10 7177320282 SUSAN SMITH PAGE 35/45
NOTICE (PA)
Payee: William A. !Maxwell a/k/a William Maxwell
IMPORTANT NOTICE: You are strongly urged to consult with an
attorney who can advise you of the potential tax consequences of this
transaction.
I acknowledge receipt of the above notice.
By signing below you are confirming that you received a copy of this
notice at least 10 days prior to executing your transfer agreement.
,
illiam A. axwell a/k/a William
Maxwell
--b
ate
03/05/2007 20:10 7177320282 SUSAN SMITH PAGE 36/45
ACKNOWLEDGEMENT (PA)_
Payee: William A. Maxwell alk/a William Maxwell
(Please initial the following statement)
I expressly waive independent legal advice regarding the implications of
the transfer, including considerations of the tax ramifications of the
transfer.
nitials)
- A4
William A. Maxwell a/k/a William
Maxwell
/Z - / ?-e)g
Date
I
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA
IN RE: PETITION OF SETTLEMENT
FUNDING, LLC d/b/a/
PEACHTREE SETTLEMENT No.
FUNDING TO TRANSFER
STRUCTURED SETTLEMENT
PAYMENT RIGHTS
(PAYEE, WILLIAM A.
MAXWELL)
CERTIFICATION OF COUNSEL
Ronald E. Reitz, attorney for Settlement Funding LLC d/b/a
?eachtree Settlement Funding, hereby sets forth the following:
1. I, Ronald E. Reitz, am counsel of record in this
matter for Settlement Funding, LLC d/b/a Peachtree Settlement
Funding.
2. Based on materials provided to me by Settlement
Funding, and upon reasonable investigation and inquiry,
including my discussions with the Payee, the transfer set forth
in the subject Petition complies with all requirements of the
St=ructured Settlement Protection Act, 40 P.S. § 4001-4009, and
does riot contravene any applicable Federal or State statute or
regulation, or order of any court or administrative authority.
3. This Certification is made to the best of my
knowledge, information and belief pursuant to Pa.R.C.P. 229.2.
'-?' '(X? ?A?
Ronald E. Reitz
Background on Structured Settlements Generally:
Contrary to popular misconception, structured settlements typically result from a
voluntary settlement of an underlying tort claim. While many believe that structured
settlements are typically court approved, court ordered or otherwise mandated by the
court as a form of spendthrift trust, this is simply not true. Structured settlements are a
convenient and cost effective way to settle personal injury claims, particularly where
there is disagreement over the size of the settlement as the perceived value of future
payments is generally higher than their true value. Simply put, structured settlements are
a cost effective way for insurance carriers to settle personal injury claims on favorable
terms and are often used for garden variety cases. In the vast majority of cases they are
simply the result of a negotiated settlement between plaintiff and defendant with no
substantive court involvement.
Anti-assignment provisions are often included in structured settlement agreements under
the mistaken belief that they are required to prevent the application of the "constructive
receipt" tax doctrine. These anti-assignment provisions were not included as a form of
spendthrift trust nor were they intended as a restriction on alienation of the right to
receive structure settlement payments. Rather they are a result of an overly cautious
reading of several private letter rulings from the early 1980's and a mis-understanding of
the constructive receipt tax doctrine. Any lingering doubts as to whether an anti-
assignment provision is required to prevent constructive receipt were dispelled in 2002
with the passage of 26 USC Section 5891, et seq. which made it clear - by way of a
clarification of existing law - that a sale or transfer of structure payments rights would not
alter the tax treatment applicable to the annuitant or annuity issuers. Notwithstanding
this, anti-assignment clauses remain a vestige of common practice and are hence present
in many settlement agreements.
The one common failing of structured settlements is that they are relatively inflexible.
Once established they cannot be altered. As a consequence, a secondary market for
structured settlements evolved in the 1990's. Because of the significant demand from
structured settlement recipients to restructure/refinance how and when they receive these
payments, a secondary market flourished. In 2002, the United States Congress, after
hearings before the Ways and Means committee, passed 26 USC Section 5891, et seq.
making it clear that structured settlements could be transferred and that no adverse tax
consequence would attach. As part of providing this clarification, Congress required that
a transfer of structured settlement payment rights be pursuant to a state transfer statute
finding that the transfer was in the best interest of the selling annuitant. Employees and
officers of the petitioner, Settlement Funding, appeared at the congressional hearing
referenced above and worked tirelessly in the late 90's and early 2000's to obtain the
passage of 26 USC Section 5891 and to pass state transfer laws around the country.
Almost every state now has a structured settlement statute which provides for
unprecedented levels of consumer safeguards prior to an individual being permitted to
sell a structured settlement. This is so notwithstanding the fact that the decision to accept
the structured settlement, as outlined above, is typically the result of a simple negotiation
between plaintiff and defendant and not as consequence of the independent judgment that
4_N
the recipient is unable to manage their financial affairs. The structured settlement transfer
statutes and the provisions of 26 USC Section 5891, et seq. make it clear that both federal
and state legislators recognized the need for liquidity in the secondary market for
structured settlement payments. Provided that the transfer statute is adhered to, the court
should permit the transfer of the structured settlement payments provided that such
transfer is in the best interest of the payee.
T `
$gol.00 pb A`ny
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eT*
4
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
STRUCTURED SETTLEMENT
PAYMENT RIGHTS
(PAYEE, WILLIAM A.
MAXWELL)
Civil Division
No.: 09-8792 Civil Term
COUNSEL OF RECORD FOR THIS
PARTY:
ORIGINAL VERIFICATION OF KURT
MOODY
Ronald E. Reitz
Pa. I.D. No. 55408
Filed on behalf of Transferee,
Settlement Funding, LLC d/b/a
Peachtree Settlement Funding
SWARTZ CAMPBELL LLC
Firm I.D. No. 765
4750 U.S. Steel Tower
600 Grant St.
Pittsburgh, PA 15219
412.232.9800
i
VERIFICATION
I, Kurt Moody, In-House Counsel 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: 1KURT MOODY
CERTIFICATE OF SERVICE
I hereby certify that a true and correct copy of the
foregoing ORIGINAL VERIFICATION OF KURT MOODY was served by
regular United States mail, postage pre-paid, on this 23rd day
of December, 2009 on:
Travelers Casualty & Surety Company
Corporation Service Company
Att'n: SOP Department
2711 Centerville Rd., Suite 400
Wilmington, DE 19808
("Settlement Obligor")
ING Life Insurance and Annuity Company
Att'n: Ida I. Colon
ING Americas
One Orange Way
Windsor, CT 06095-4774
("Annuity Issuer")
Kurt Moody, Esquire
Structured Settlements-In-House Counsel
Peachtree Settlement Funding
3301 Quantum Boulevard, Second Floor
Boynton Beach, FL 33426
("Transferee")
William A. Maxwell
632 N. West St.
Carlisle, PA 17013-1966
("Payee")
SwarVonald 1 LC
By: .4
E. Reitz
Attc,rney for Transferee
E "lgY
gyn..,, ,... .. ... ..
'Y
DEC 292009,?
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA
N RE: PETITION OF SETTLEMENT
FUNDING, LLC d/b/a/
PEACHTREE SETTLEMENT
FUNDING TO TRANSFER
STRUCTURED SETTLEMENT
PAYMENT RIGHTS
(PAYEE, WILLIAM A.
MAXWELL)
No. (? ghq a
INITIAL ORDER OF COURT
&'Jil-ram
Gn this day of , 2016), it is ordered that a
V
hear-nq on this Petition to Transfer Structured Settlement
Payment Rights will be held on 1. 0100 , in
Courtroom at /l`K-a- K . _ o'clock. , The payee
shall. bring income tax returns for the prior two (2) years to
,.he :rearing.
iJithin 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
t-cansferee shall attach a certificate of service to the notice
of heari_nq date. A copy of the notice with the certificate of
service shall be filed with the court prior to the hearing.
BY THE URT:
J.
FIL(MD
I" r
n i
IF 1 i
2010 Ou
RECEIPT FOR PAYMENT
--------------------
-------------------
Cumberland County Prothonotary's Office
Carlisle, Pa 17013
SETTLEMENT FUNDING LLC (VS)
Case Number 2009-08792
Received of PD ATTY REITZ
DKB
Total Non-Cash..... +
Total Cash......... +
Change ............. -
Receipt total...... = $92.00
ransaction
PETITION
TAX ON PET
SETTLEMENT
AUTOMATION
JCP FEE
Receipt Date 12/22/2009
Receipt Time 11:49:01
Receipt No. 235351
MAXWELL WILLIAM A
92.00 Check#
.00
.00
Distribution Of Payment
Description Payment Amount
55.00
ITION .50
8.00
FEE 5.00
23.50
3322
CUMBERLAND CO GENERAL FUND
BUREAU OF RECEIPTS AND CONTROL
CUMBERLAND CO GENERAL FUND
CUMBERLAND CO AUTOMATION FUND
BUREAU OF RECEIPTS AND CONTROL
$92.00
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
STRUCTURED SETTLEMENT
PAYMENT RIGHTS
(PAYEE, WILLIAM A.
MAXWELL)
No. 2009-8792 Civil Term
NOTICE OF HEARING ON PETITION TO
TRANSFER STRUCTURED SETTLEMENT PAYMENT RIGHTS
To: Travelers Casualty & Surety Company
Corporation Service Center
Attn: SOP Department
1711_ Centerville Rd., Suite 400
Wilmington, DE 19808
("Settlement Obligor")
1NG Life and Annuity Company
At_t' n: Ida 1. Colon
INC Americas
One Orange Way
Windsor, CT 06095-4774
("Annuity Issuer")
Kurt Moody, Esquire
Structured Settlements--l:n-House Counsel
Peachtree Settlement Fundi.na
3301 quantum Boulevard, Secona Ficor
Boynton Beach, FL 33426
("Transferee")
William A. Maxwell
632 N. West St.
Car-Lisle, PA 17013-1966
("Payee")
co
{_.
You are hereby given notice that Settlement Funding
:_:1,C has filed a per_it.ion to transfer struc=tured settlement
payment rights. A hearing in this matter has been
.. 7 r _ ..
scneduled on Thursday, February 11, 2010 at 11:15 a.m.,
before Hon. Edward E. Guido, Courtroom 3, Cumberland County
Courthouse, One Courthouse Square, Carlisle, PA 17013. A
copy of the Initial Order is attached as Exhibit "A".
You are entitled to support, oppose or otherwise
respond to the payee's petition, eii7her in person or by
co;ansel, by filing written comme:zts 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
PJ-tt_sburgh, PA 15219
(412) 232-9800
1
DEC 29 2009U,?
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA
_N RE; PETITION OF SETTLEMENT
FUNDING, LLC d/b/a/
PEACHTREE SETTLEMENT
FUNDING TO TRANSFER
STRUCTURED SETTLEMENT
PAYMENT RIGHTS
(PAYEE, WILLIAM A.
MAXWELL)
No. ?{- g?qa ??vF1T?r?
INITIAL ORDER OF COURT
or this day of , 2016), it is ordered that a
Structured Settlement
ea.r_na on this Petition to Transfer
Pa, n:->r.t Rigi?ts wi_11 be held on
ours. room at ll, 15 r-A o'clock. The payee
brina income tax returns for the prior two (2) years to
the hear:?ng.
ivii'rii.n seven (?) days, the transferee shall give notice of
r_he hearing date to the payee, the structured settlement
obligor, the annuity issuer, the payee's spouse and any person
C(_;,e-iving child support, alimony, or alimony pendente lice. The
i. ,nsierce shall attach a certificate cf service to the notice
o` i ea:cirrg date:. A copy of the notice with the certificate of
s rvice slhill be filed with the court prior to the hearing.
BY 'I'H F eOUiR
J.
I
EXHIBIT
1?-
CERTIFICATE OF SERVICE
I hereby certify that a true and correct copy of this
NOTICE OF HEARING ON PETITION TO TRANSFER OF STRUCTURED
SETTLEMENT PAYMENT RIGHTS has been served by certified
mail, return-receipt requested, postage pre-paid, on this
6th day of January, 2010 on:
Travelers Casualty & Surety Company
Corporation Service Comapany
Att'n: SOP Department
2711 Centerville Rd., Suite 400
Wilmington, DE 19808
("Settlement Obligor")
ING Life Insurance and Annuity Company
Att'n: Ida I. Colon
ING Amer=icas
One Orange Way
Windsor, CT 0609b-4774
("Annuity Issuer")
and by regular U.S. mail, postage prepaid to:
Kurt Moody, Esquire
Structured Settlements-In-House Counsel
Peachtree Settlement Funding
33?ji Quantum Boulevard, Second Floor
Boynton Beach, FL 33426
fransfe:r7 e
William A. Maxwell
632 N. West St.
Carlisle, PA 17013-1966
("Payee")
Swartz el LLC
By'- -
1onald E. Reitz
Attornev for Transferee
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA
IN RE: PETITION OF SETTLEMENT
FUNDING, LLC d/b/a/ .
PEACHTREE SETTLEMENT No. 2009-8792 Civ il Ter m
FUNDING TO TRANSFER .
STRUCTURED SETTLEMENT
PAYMENT RIGHTS
C ~,
°-
=n
( PAYEE , WILLIAM A . _ -;-~ {-^: ~
-n
~
MAXWELL) '~' ~ ' ~ ~
" rn
v` ~
PItAECIPE TO DISCONTINUE %' =='~ ~t~n"
TO: PROTHONOTARY OF CUMBERLAND, PENNSYLVANIA: ~ ~
Petitioner, Settlement Funding, LLC d/b/a Peachtree
Settlement Funding, hereby requests that the above captioned
matter be discontinued.
Respectfully submitted,
SW MPBELL LLC
nal eitz
Counsel for Transferee,
Settlement Funding, LLC
CERTIFICATE OF SERVICE
I hereby certify that a true and correct copy of the
foregoing PRAECIPE TO DISCONTINUE was served by regular U.S.
mail, postage pre-paid, on this 17th day of February, 2010 on:
Travelers Casualty & Surety Company
Corporation Service Company
Attn: SOP Department
2711 Centerville Rd., Suite 400
Wilmington, DE 19808
("Settlement Obligor")
ING Life Insurance and Annuity Company
Attn: Ida I. Colon
ING Americas
One Orange Way
Windsor, CT 06095-4774
("Annuity Issuer")
Kurt Moody, Esquire
Structured Settlements-In-House Counsel
Peachtree Settlement Funding
3301 Quantum Boulevard, Second Floor
Boynton Beach, FL 33426
("Transferee")
Swartz 1 LLC
By:
onald E. eitz
Attorney for Petitioner