HomeMy WebLinkAbout12-2326
MARO & MARO, P.C.
By: Robert A. Maro, Esquire
r'
Attorney I.D. No.: 89585 _?
1115 West Main Street
Norristown, PA 19401
c-
(610) 275-9600
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
RE: Joint Petition of J.G. Wentworth NO: 044; 1Ter*A
Originations, LLC and Stephanie McFadden
JOINT PETITION FOR PARTIAL TRANSFER OF STRUCTURED
SETTLEMENT PURSUANT TO STRUCTURED SETTLEMENT PROTECTION
ACT, 40 P.S. 4000, ET SEO.
TO THE HONORABLE JUDGES OF SAID COURT:
And now comes your petitioner, J.G. Wentworth Originations, LLC, by and
through its attorneys, Maro & Maro, P, C., and joint petitioner, Stephanie McFadden, and
in accordance with the applicable rules of Pennsylvania Civil Procedure, hereby
represents as follows:
1. Petitioner is J.G. Wentworth Originations, LLC. ("Buyer" or
Transferee"), with an office address located at 201 King of Prussia Road, Radnor, PA
19087.
2. Joint Petitioner is, Stephanie McFadden ("Payee"), an adult individual who
resides in the County of Cumberland. For privacy concerns, any and all notices can be
sent to 201 King of Prussia Road, Radnor, PA 19087. Petitioner will establish
jurisdiction at the time of hearing.
3. This Joint Petition has been verified by the Transferee, J.G. Wentworth
Originations, LLC. and the Petition includes all necessary information as prescribed by
PA R.C.P. 229.2(d) et al and Section 3 of the Act, 40 P.S. §4001 et seq. 103-15 PO
e?`?941v
Plt-4773 748
4. Pursuant to PA. R.C.P. No. 229.2(d)(3) there are four (4) attachments
incorporated herein as follows:
a. PA R.C.P. 229.2(d)(3)(i) Payee's Affidavit in Support of Petition.
Please see Attachment/Exhibit "1 "; and
b. PA. R.C.P. 229.2(d)(3)(ii) An Initial Order of Court Scheduling
Hearing;
c. PA. R.C.P. 229.2(d)(3)(iii) A certification by Robert A. Maro, Esquire,
attorney for transferee, J.G. Wentworth Originations, LLC.; and
d. PA. R.C.P. 229.2(d)(3)(iv) A Final Order of Court Granting
he Petition.
5. Joint Petitioner, Stephanie McFadden, is the beneficiary of an annuity
owned by Allstate Settlement Corporation and issued by Allstate Life Insurance
Company. The structured settlement provides payment to the petitioner as described on
Attachment/Exhibit 112".
6. Joint Petitioner, Stephanie McFadden, after having the opportunity to have this
matter reviewed by independent counsel of his own choosing including the implications
of the transfer and any tax ramifications, expressly waived his right to independent
counsel. A Copy of Joint petitioner's waiver is attached hereto, incorporated herein and
marked Attachment/Exhibit "3".
7. Joint Petitioner, Stephanie McFadden, proposes to enter into a purchase
agreement with J.G. Wentworth Originations, LLC., its nominees, successors, or assigns,
whose address is 201 King of Prussia Road, Radnor, PA 19087, who will purchase the
following from Petitioner's structured settlement as follows:
A) 1 payment of $43,208.00 on August 25, 2013 B) 1
payment of $1,000.00 on August 25, 2014.
8. The structured settlement is currently owned by Allstate Settlement
Corporation and issued by Allstate Life Insurance Company, and the net amount in return
payable to Stephanie McFadden is $31,350.00 from Buyer. A copy of the Purchase
Agreement, Exhibit "A' to the Purchase Agreement and Disclosure Statement is attached
.
hereto, made apart hereof, and designated Attachment/Exhibit "41'
9. The net amount payable to the payee after deduction of all commissions,
fees, costs, expenses, and charges is $31,350.00.
10. Based on the net amount that the payee will receive from this transaction
$31,350.00 and the amounts and timing of the structured settlement payments that
would be assigned, the payee is, in effect, paying interest at a rate of 24.43% per
year.
11. The Buyer furnished Stephanie McFadden with a Disclosure Statement
pursuant to 40 P. S. 4003 (See Attachment/Exhibit "4") at least ten (10) days prior to the
date on which Stephanie McFadden first incurred any obligation to the Buyer.
12. PA R.C.P. 229.2(b) requires the petition to be filed in the county in which the
payee is domiciled See also Section 4 of the Act 40 P.S. §4004). PA.R.C.P. 229.2(c)
also requires both the Transferee and Payee to be parties to the Joint Petition. Both
requirements have been fulfilled herein.
13. Written notice of the Transferee's Names, address and taxpayer identification
number has been given to the Annuity Issuer and Structured Settlement Obligor. A copy
of the Notice to the structured settlement obligor is attached hereto as Attachment/Exhibit
"5". Joint Petitioners wills also serve written notice as required by 40 P.S. 4004 upon
all interested parties.
14. The Joint Petitioner's best interest would be served by granting the relief
requested herein for the following reasons. Joint Petitioner is single and has no minor
children. Joint petitioner has never transferred payments under the annuity in the past.
Petitioner is not employed, but actively seeking same. Petitioner is looking to relocate
and start her life and this money will be used for those purposes. Petitioner has thought
about this decision thoroughly and believes this is in her best interest. Based upon the
foregoing which shall be expanded upon at the time of trial, the transfer is clearly within
the best interest of Petitioner and her minor child.
WHEREFORE, Joint Petitioner's respectfully requests this Honorable Court to
enter the Initial Order attached to this petition which shall schedule a hearing so that
Transferee and Payee shall have the opportunity to discuss the purpose and reasons for
the transfer and after hearing thereon, respectfully request that this Honorable Court enter
a Final Order approving the Transfer of Structured Settlement Payments Rights as is
mentioned herein.
Maro & Maro, P.C.
,Kobert A. Maio, Esquire
Attorney for Transferee
VERIFICATION
I, Lori Borowski, Vice President of J.G. Wentworth Originations, LLC, have read
the foregoing Petition to Joint Petition to Transfer Structured Settlement Payment Rights
and hereby aver that the statements contained therein are true and correct to the best of
my knowledge, information and belief.
This Verification is made subject to the penalties of 18 Pa.C.S.A. Section 4904
relating to the unsworn falsification to authorities.
or' Borowski, Vice President
LY-1r - 12-
Date
CERTIFICATION OF ATTORNEY FOR TRANSFEREE
I, Robert A. Maro, Esquire, attorney for Transferee, J.G. Wentworth Originations,
LLC, hereby certify to the best of my knowledge, information and belief, formed after
reasonable inquiry, that the Transfer will comply with the requirements of the Act (40
P.S. § 4000 et seq.) and will not contravene any other applicable federal or state statute or
regulation or the order of any court or administrative authority.
I, Robert A. Maro, Esquire, attorney for Transferee, J.G. Wentworth Originations,
LLC, hereby verify that the facts and statements set forth herein are true and correct to
the best of my knowledge, information and belief. I understand that false statements
made herein are subject to the penalties of 18 Pa. C.S.A. Section 4904 relating to
unsworn falsification of authorities.
-I(-/
Date
Attorney for Transferee, J.G.
Wentworth Originations, LLC
MARO & MARO, P.C.
By: Robert A. Maro, Esquire
Attorney I.D. No.: 89585
1115 West Main Street
Norristown, PA 19401
(610) 275-9600
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
RE: Joint Petition of J.G. Wentworth NO:
Originations, LLC and Stephanie McFadden
CERTIFICATE OF SERVICE
I, Robert A. Maro, Esquire, hereby certify that a true and correct copy of the
Petition for Transfer of Partial Structured Settlement has been served upon the following
entities via first class mail and/or certified return receipt requested and/or email on :
To: Allstate Life Insurance Company
Attn. Lisa Sterner, Claims
3100 Sanders Rd., N3
Northbrook, IL 60062
J.G. Wentworth Originations, LLC
201 King of Prussia Road
Radnor, PA 19087
Allstate Assignment Company
Attn: Lisa Sterner, Claims
3100 Sanders Rd. N3
Northbrook, IL 60062
Date: q-11-1)-
By:
Stephanie McFadden
W
Cobert A. Maro, Esquire
Attorney for J.G. Wentworth Originations,
LLC
MARO & MARO, P.C.
By: Robert A. Maro, Esquire
Attorney I.D. No.: 89585
1115 West Main Street
Norristown, PA 19401
(610) 275-9600
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
RE: Joint Petition of JG Wentworth NO:
Originations, LLC and Stephanie McFadden
Entry of Appearance
TO THE PROTHONOTARY/CLERK OF SAID COURT
Enter my appearance on behalf of: JG Wentworth Originations. LLC.
Papers may be served at the address set forth below.
By:
Respectfully Submitted:
Maro & Maro, P.C.
Norristown, PA 19401
(610) 275-9600(office)
(610) 275-9666(Fax)
Maro & Maro, P.C.
1115 W. Main Street
ATTACHMENT/EXHIBIT 661"
Payee's Affidavit in Support of
Petition to Transfer Structured Settlement Rights
I, Stephanie Mcfadden, the payee, verify that the statements below are true and correct:
Payee's name, address and age: Stephanie Mcfadden, 121 Conodoguinet Mobile
Est, Newville, PA 17241-9488,19
1. Marital Status:
X _ ._ Never Married; Married; Separated; Divorced
If married or separated, name of spouse: N/A
2 Minor Children and other dependents:
Names, ages, and places of residence: NONE
3. Income:
I am currently unemployed, but seeking job opportunities.
4. Child support, alimony or alimony pendcnte lite:
Obligation to pay: Yes X No
if yes, state the amount of the obligation, to whom payable, and whether there are
arrearages: none
5. Previous transfers: Complete the below for competition deals only. If prior
transfers were with JGW then just type See Exhibit "A".
Have you previously filed a petition to transfer payment rights under the
structured settlement that is the subject of this petition? Yes _X_-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 number, and state whether the
court approved or disapproved the transfer: if the transfer was
approved,
(b) State the name of the transfcree and identify (listing due
dates and payment amount(s)) the payments involved in the
transfer:
State the amount of money and the manner in which the money
was used:
(c) Have you ever transferred payments without court
approval? If so, please explain: No
6. Reasons for transfer:
Describe in detail your reasons for the proposed transfer, including an
explanation as to why a sale of a lesser amount of the structured settlement
amount will better serve your interests: I want to use the money from this transfer
for relocation expenses.
7. Payment of debts:
If you 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
Verification
I verify that the statements made in this affidavit are true and correct. I understand
that false statements herein are made subject to the penalties of 18 Pa.C.S. §4904, relating
to unsworn falsification to authorities.
DATED: 4-711'a 1!1?C'? _._
Stephanie Mcfadden
ATTACHMENVEXHIBIT 6'2"
2??
11
0
SCHEDULE OF PAYMENTS
DATE
AUG 25, 2013
AUG 25, 2014
0 43208.00
S 1000.00
NAME _.... ..... SEX DATE DE BIRT
MEASURING LIFE: STEPHANIE L MCFADDEN ` FEMALE AUG 25, 1992
FIRST PAYMENT: 9 4380$.00 04 AUG 25, 2013``
LAST PAYMENT: S 1000.00 ON AUG 25, 2014
CONTRACT NUMBER: 95007521 OWNER: ALLSTATE SETTLEMENT CORP'
ISSUE DATE: APR 23, 1998
PAGE 3
POLICY DATA PAGE FOR NYLU216
ATTACHMENT/EXHIBIT "3"
5
AccountlD: 677415
Please complete and sign.
Please Choose Either Box A OR Box B Below.
After you have made your choice, _ the appropriate box signature line.
YOU SHOUI.,I:) SIGN l*' BOX YOU I LAVE CIIOSF.N.
A. I HAVE BEEN ADVISED BY J.G. WENTWORTH ORIGINATIONS, LLC
("JGW") THAT I SHOULD OBTAIN INDEPENDENT PROFESSIONAL
REPRESENTATION CONCERNING THE LEGAL, TAX AND/OR FINANCIAL
IMPLICATIONS OF THIS TRANSACTION. I FULLY UNDERSTAND THE PURCHASE
AGREEMENT AND THE IMPLICATIONS OF THF. TRANSFER, INCLUDING THE TAX
RAMIFICATIONS OF THE TRANSFER AND I DO NOT WISH. TO SEEK OUT SUCH
INDEPENDENT PROFESSIONAL REPRESENTATION.
.i' it Xf ' 1.,..
A-i
ST0 ANTE AF DC DEN Date
B. I HAVE OBTAINED INDEPENDENT REPRESENTATION AND I F [JL,LY UNDERSTAND
THE LEGAL, TAX AND/OR FINANCIAL IMPLICATIONS OF THE TRANSACTION,
THE PURCHASE AGREEMENTAND THE RELATED DOCUMENTS. I WAS NOT
REFERRED TO MY PROFESSIONAL ADVISOR BY JGW. THE NAME OF MY
PROFESSIONAL ADVISOR IS SET FORTH BELOW:
STEPHANIE MCFADDEN
Date
To Be Completed By Certifier! Pr( fessional Advisor
Chits ifyou /rave signed Box B Above
Name of Professional:
Phone Number:
Address:
I have personally met with and provided independent professional advice to
and the transaction contemplated thereby. Stephanie Mcfadden watt referred to me by the
Professional's Signature
STATEMENT OF PROFESSIONAL REPRESENTATION
Attorney I D #
_ in respect of the Purchase Contract with JG W
Date
SSC.Contraetli i
ATTACHMENT/EXHIBIT "4"
AccountlD; 677415
PURCHASE CONTRACT
This is a Purchase Contract ("Contract") for the sale of structured settlement payments between
Stephanie Mcfadden (You, Your), with legal residence at
121 Conodoguinet Mobile Est, Newville, PA 17241-9488
and
J.G. Wentworth Originations, LLC (We, Us, Our)
3993 Howard Hughes Parkway. Suite 250, Las Vegas, NV 89169-6754.
BACKGROUND
A. In connection with the resolution of a personal injury claim, You or someone acting For You, signed a
Settlement Agreement that entitles You to receive certain future payments ("Settlement Payments"),
according to a set schedule.
B. Those Settlement Payments are being paid to You from an annuity policy ("Annuity Policy") purchased by the Person
responsible for making the Settlement Payments to You ("Obligor").
C. Rather than wait for the Settlement Payments to be made to You in the future, You want to sell all or some of those
Settlement Payments ("Purchased Payments") to Us now for a lump sum.
D. THIS CONTRACT CONTAINS AN ARBITRATION PROVISION WHICH YOU SHOULD READ
CAREFULLY, AS IT WILL HAVE A SUBSTANTIAL IMPACT ON HOW DISPUTES BETWEEN YOU AND
US ARE RESOLVED.
DEFINED WORDS
Certain words used in this Contract have specific meanings, shown below.
Annuity Policy The policy purchased by the Obligor to ensure that the Settlement Payments are made to You as
required by the Settlement Agreement.
Closing Documents Any documents necessary to carry out the purchase of the Purchased Payments, other
than the "Contract or Contract Documents" as defined below.
Contract or Contract
Documents Collectively, only this Contract and the Disclosure Statement.
Contract Date The date Your signature at the end of this Contract is notarized. However, if You happen
to sign this Contract before the number of days stated at the end of Your Disclosure
Statement for waiting has passed, You will have no obligation under Your Contract until
that time has passed.
Court Order A legally binding ruling issued by a judge or properly empowered administrative officer,
approving the sale of the Purchased Payments to Us ("Court Approval').
Disclosure Statement The document which identifies for You, the Purchased Payments, expenses, Purchase Price
and various other disclosures.
Encumbrance Any claim, right, lien, policy loan, or restriction. In addition, this includes any
limits on rights of ownership (such as the use, voting, transfer, receipt of income, etc.).
Funding Date The date We pay You the Net Purchase Price.
ha??• I
08115'11 2011 16 Wenturorth Onginattous I.I.C
Account R 677415
Issuer The insurance company that issued the Annuity Policy.
Obligor The Person who is obligated to make payments to You under the Settlement Agreement.
Party One of You or Us. Parties means both You and Us.
Person Any natural person or legal entity.
Purchased Payments Only those certain payments that We are purchasing from You under this Contract.
Purchase Price:
Gross Purchase Price The amount shown as the "gross amount payable to the seller (You)" on the Disclosure
Statement. This is the sum We have agreed to pay You before any deductions as set
forth in the Contract Documents.
Net Purchase Price The amount shown as the "net amount payable to the seller (You)" on the Disclosure
Statement. This is the sum We have agreed to pay You after any deductions as set forth
in the Contract Documents.
Settlement Agreement The agreement that You and the Obligor signed to resolve Your personal injury claim.
Settlement Payments All of the payments that the Obligor has agreed to make to You in the Settlement
Agreement.
We, Our, or Us J.G. Wentworth Originations, LLC, along with any of its successors, assigns,
and designees. Some of the Contract Documents or Closing Documents may refer to Us
as the purchaser.
You or Your The Person named on this Contract's first page. Some of the Contract Documents or
Closing Documents may refer to You as the seller.
You and We agree as follows:
L SALE OF THE PURCHASED PAYMENTS
A. IJpon the signing of this Contract and subject to certain conditions including Court Approval, You sell, transfer
and assign to Us the right to receive the Purchased Payments specifically identitied in the Disclosure Statement.
B. We will pay You the Net Purchase Price as agreed to in the Contract Documents, subject to certain conditions,
including meeting Our underwriting requirements, Court Approval and satisfactory completion of the Closing
Documents. We will do this in exchange for You:
• selling the Purchased Payments to Us;
• changing the beneficiary of the Annuity Policy to Your estate and not changing it again until We have
been paid all of the Purchased Payments;
• having any current beneficiaries waive their rights to the Purchased Payments; and
• fulfilling Your promises under this Contract.
C. If We are buying only a portion of Your payments, this will have no effect upon Your rights in the unsold portion.
You will continue to receive the unsold portion unless You have already sold or encumbered that portion.
However, sometimes the Issuer, the Obligor or the court may require Us to receive the entire amount of Your
payment. If so, We will then forward the portion of the payment still due to You and You hereby agree to this
payment servicing arrangement.
Val"c ;?
08/1 ii I I
2011 J U. Wentworth Originations,1 1C
AccuunllD. 677415
2. PURCHASE PRICE
A. The Gross and Net Purchase Prices are shown on the Disclosure Statement and are fair and acceptable to You and Us.
B. We will pay You the Net Purchase Price in the manner You designate for 1 Js.
C. Before we pay You, You agree that We will adjust for the following amounts, If applicable:
* Purchased Payments Owed to Us - The Issuer may have already paid You some of the Purchased
Payments before We have paid You for them. If that happens, We will deduct the amount of those
Purchased Payments.
• Holdbacks - Due to possible delays in the Issuer beginning to make the Purchased Payments to Us
instead of You, We will hold back an amount equal to any Purchased Payments that the Issuer owes Us
post Court Approval, that are due within 90 days of the Funding Date. If We subsequently receive those
particular Purchased Payments directly, We will return the amount of any related holdback to You.
Payment of Debts Owed - if You owe any past due child support, bankruptcy payoffs or taxes, or have
any judgments or liens against You or Your assets, We may pay those amounts and deduct them from the
amount We pay You, and You hereby provide Us with specific authority to take such action. We will
provide You with notice of the amounts that We are going to pay, prior to actual payment.
D. If any Purchased Payments are mistakenly sent to You after We have paid You for them, You will immediately contact
Us. If We then determine that any deductions or holdbacks as set forth above are not enough to reimburse Us, We will
advise You of the amount You owe Us. You agree to immediately send that amount to Us by bank or certified check.
3. YOUR REPRESENTATIONS AND WARRANTIES
You represent and warrant to Us the following:
A. You understand that THIS IS A SALE AND NOT A LOAN.
B. The Annuity Policy is in full force, You are the sole and undisputed recipient of the right to the Purchased Payments,
have the right to sell them free and clear of any Encumbrances and have not previously sold any of the Purchased
Payments to any other Person.
C. You understand that Court Approval is required for this purchase; and You agree to fully cooperate with Us to
obtain that approval.
D. You gave Us all requested information and signed all documents necessary to complete the purchase,
Everv statement made by You in the Contract Documents and Closing Documents is true and complete.
E. No law, divorce decree or other legal obstacle:
requires You to keep the Purchased Payments for the benefit of a current or former spouse, dependent children,
or other person; or
• legally prevents You from contracting with Us, selling the Purchased Payments or changing the Annuity
Policy's beneficiary.
1'. Either:
• You have never filed for bankruptcy, will not do so before the Funding Date and there are no lawsuits or efforts
by any of Your creditors to put You into bankruptcy or take any of the Purchased Payments; or
• If You filed for bankruptcy, the Purchased Payments were not subject to the claims of Your creditors. You will
give Us a copy of any of Your bankruptcy documents that We request including evidence of a final bankruptcy
payoff or case closing, if any.
P:fee 3
3/151! 11
20 t 1 J G Wcilkwrth Ocieinatium. 11C
Acuwnt ID: 677415
& We can rely on Your representations, warranties, and promises in this Contract. These representations, warranties, and
promises are for Our benefit and the benefit of any future owners of the Purchased Payments. You understand that Our
reliance on any intentional misrepresentation by You may result in Our enforcing Our rights against You in court.
1I. You had enough time to consider the sale of the Purchased Payments, understand the terms of the Contract Documents
and Closing Documents (including the arbitration provision), are of legal contracting age and sound mind, not under the
influence of drugs or alcohol, and freely and voluntarily, enter into this Contract and agree to all of its terms.
1. You were advised by Us to obtain independent legal advice and professional tax advice about the sale of the Purchased
Payments and to have those advisors review the terms and legal, tax and other effects of this Contract with You prior to
Your execution of this Contract. You have also explored all appropriate financial options before
entering into this transaction.
J. We did not provide tax, financial, or legal advice to You about this Contract and have advised You that We may not refer
You to any specific attorney for such purpose.
K. If You are married, Your spouse understands all of the terms and conditions of this Contract including, but not limited to
the fact that, after the Funding Date, You (and Your spouse) will not receive the same amount of money on the same
payment schedule as You would have received under the Annuity Policy. Your spouse has been provided with
all information relating to the transaction and has had every opportunity to review the terms of the transaction and to
seek any advice relating thereto. Your Spouse also understands that he or she will be giving up any property or contract
rights that he or she may have in the Purchased Payments.
L. We may set[, transfer, or assign Our right to the Purchased Payments in a sale, securitization, or other financing
transaction (resale). Any resale would involve disclosing certain information about You (including Your personal
information) to the parties to a resale.
M. Any future owner of the right to the Purchased Payments will have all of the same rights We have, including the right to
the duties You owe Us under this Contract. This includes the right to make a claim against You for violating any of the
representations, warranties, or promises You made in this Contract.
4. YOUR PROMISES TO US
Before and after the Fundijatt Datc;
A. You will tell us right away if Your address or telephone number changes and do
everything necessary, including completing and signing all documents to:
• sell the right to the Purchased Payments to Us;
• change the beneficiary as required by this Contract; and
• correct any documentation errors in the Contract Documents or Closing Documents.
B. You will also tell Us if any of the following occurs:
• a violation of this Contract; or
• anything that could negatively affect the Annuity Policy, the Purchased Payments, or this Contract.
C. You wi I I not:
• agree to sell the Purchased Payments to any Person other than Us;
• change the Annuity Policy's beneficiary to any Person other than Your estate until We have collected all of the
Purchased Payments; or
• withdraw cash from, borrow against, or change the Annuity Policy.
Page 1
09/l /11 ;?,2011 IG ` oitwottitOnginalwm%1.1.C
Accaxwnt ID7 677415
D. You will give Us information necessary to update Your representations, warranties, and promises in this Contract. You
will also update any documents and information so they will be true and complete on the Funding Date.
E. We are now, and will continue in the future, to rely on the representations and warranties You have given Us. We will
confirm the accuracy of Your representations and warranties. You must cooperate with this confirmation and provide
complete access to any information We believe necessary.
F. You agree that updating representations, warranties, promises, documents and other information will not cure a breach
of any representation or warranty made by You that was not true and complete.
0. You agree that Our obligation to You under this Contract is strictly limited to the requirement to pay You what We owe
You under the terms of this Contract, after receipt and approval of the Closing Documents, final underwriting approval
and Court Approval. Under no circumstances will We be liable for any consequential damages.
H. You hereby appoint Us and any of Our designees, with full power of substitution as your Attorney in Fact, to act in
Your name and place for the purpose of assigning and transferring ownership of any and all right, title and interest that
You have in the Purchased Payments and for Us to obtain all benefits contemplated by this transaction. You also give
Us full authority to act in any way proper and necessary to exercise this Attorney in Fact appointment including, but not
limited to: (1) negotiating, endorsing and executing checks, drafts and other instruments in Your name; and
(2) instituting, maintaining, compromising, settling and terminating any litigation or other proceedings related to the
Purchased Payments. This power of attorney is coupled with an interest and shall survive death or disability.
5. CANCELLATION BY US
We may cancel this Contract before the Funding Date if.
A. You breach any representation, warranty, or promise in any Contract Documents or Closing Documents.
B. The petition for the Court Order is contested, opposed, or not approved.
C. We are sued or threatened with a lawsuit or an arbitration about this Contract or the Annuity Policy.
D. There is any threatened, pending, or final action, or change in law or rule challenging the legality of, or negatively
affecting this transaction.
E. You file for, or are forced into bankruptcy.
F. You die.
G. Final approval has not been given by Our underwriting department.
H. The Purchase Contract is not signed by You and received back by Us by March 23, 2012.
A major rating agency downgrades the Issuer's credit rating.
J. The Issuer is, or becomes insolvent, or under regulatory supervision.
K. With respect to A through J above, to the extent permitted by applicable law, the arbitration provision in Section 9 of
this Contract shall survive the termination, cancellation or rescission of this Contract.
6. CANCELLATION BY YOU
A. (1) YOU MAY CANCEL THIS CONTRACT WITHOUT PENALTY OR FURTHER OBLIGA'T'ION AT ANY
TIME WITHIN FIVE (5) BUSINESS DAYS AFTER THE DATE YOU RECEIVE PAYMENT
HEREUNDER FROM US. IN ORDER FOR THE CANCELLATION TO BE EFFECTIVE, YOU MUST
SEND A NOTICE POSTMARKED AT ANY TIME WITHIN FIVE BUSINESS DAYS AFTER YOU
RECEIVE PAYMENT HEREUNDER FROM US ('This is the rescission period).
1'aec i
t)8' I ?i 1 1
s - 2011 .I.C- WC11kNolIh tkigmzlu+ns, 11C
Account ID: 677415
(2) YOUR NOTICE. IS TO 13E SENT EITHER BY CERTIFIED OR REGISTERED MAIL (RETURN
RECEIPT REQUESTED) OR FEDEX OR ANOTHER MAJOR OVERNIGHT DELIVERY SERVICE. THE
NOTICE MUST INCLUDE A BANK OR CERTIFIED CHECK MADE PAYABLE TO US, IN THE FULL
AMOUNT RECEIVED BY YOU. YOUR NOTICE MUST BE SENT TO-
3.6. Wentworth Originations, LL,C
Attention: Manager of'Opcrations
3993 Howard Hughes Parkway, Suite 250
Las Vegas, NV 89169-6754
B. GEORGIA RESIDENTS: YOU MAY CANCEL THIS TRANSACTION AT ANY TIME PRIOR TO 5:00 P.M.
OF THE TWENTY-FIRST DAY FOLLOWING RECEIPT OF THE ENCLOSED "NOTICE OF
CANCELLATION RIGHTS" FORM, OR AT THE HEARING ON THE APPLICATION FOR
AUTHORIZATION OF A TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS, OR AT ANY
TIME WITHIN FIVE (5) BUSINESS DAYS AFTER YOU RECEIVE PAYMENT HEREUNDER FROM US,
WHICHEVER EVENT OCCURS LAST('This is the Georgia rescission period). IN ORDER FOR THE
CANCELLATION TO BE EFFECTIVE, YOU MUST SIGN THE ENCLOSED "NOTICE OF
CANCELLATION RIGHTS" FORM AND MAIL OR DELIVER IT TO US AS SPECIFIED IN THAT
NOTICE AND YOU MUST RETURN ALL AMOUNTS (PURCHASE PRICE OR OTHERWISE) RECEIVED
BY YOU ACCORDING TO THE REQUIREMENTS OF 6 (A) (2) ABOVE.
C. WEST VIRGINIA RESIDENTS: IN ORDER FOR YOUR CANCELLATION TO BE EFFECTIVE, YOUR
NOTICE CAN BE SUBMITTED VIA PHONE, MAIL, OR FACSIMILE. ANY AMOUNTS ADVANCED BY
US IN CONTEMPLATION OF THE TRANSFER SHALL BE IMMEDIATELY REFUNDED TO US. IF YOU
DISMISS YOUR ACTION AFTER APPOINTMENT OF A GUARDIAN AD LITEM, OR RESCIND YOUR
TRANSFER AGREEMENT (PURCHASE CONTRACT) WITHIN THE RESCISSION PERIOD IN
6(A) (1) ABOVE, YOU SHALL BE RESPONSIBLE FOR THE FILING FEE AND ANY GUARDIAN AD
LITEM FEES.
D. With respect to A through C above, to the extent permitted by applicable law, the arbitration provision in Section
9 of this Contract shall survive the termination, cancellation or rescission of this Contract.
7. NOTICES
A. All notices about this Contract must be in writing.
B. All notices must be sent either by: (1) certified or registered mail (return receipt requested); or (2) FedEx or another major
overnight delivery service with a delivery tracking system and are considered given when delivered as follows: If to You:
to the most recent address for You listed in Our files. If to Us: to the address listed in Section 6(A) (2) of this Contract.
8. EVENTS OF DEFAULT
You will be in default if You:
A. fail to comply with any terms or conditions of this Contract; or
B, breach any of Your representations, warranties and promises in this Contract.
If You are in default, even if You have not rejected the arbitration provision (see Section 9 of this Contract), We have the right to
enforce Our rights against You in court to make You perform Your promises or to get money from You. If We sue You in court
in connection with a Claim that is subject to arbitration under the arbitration provision in Section 9 of this Contract, and You have
not rejected the arbitration provision, You will have the option of remaining in court or seeking to compel arbitration of that
Claim under the terms of the arbitration provision.
OR/I;; I I
Ya??r h
1, 201110 Wentmn Ili 0iigirialions,LLC
AccountlD 677415
9. ARBITRATION PROVISION
To the extent permitted by applicable law, You and We agree to the following arbitration provision.
YOU HAVE THE RIGHT TO REJECT THIS ARBITRATION PROVISION AS SET FORTH BELOW. If You do not reject
this arbitration provision and a Claim is arbitrated, You will not have the right to: (1) have a court or a jury decide the Claim;
(2) engage in information gathering (discovery) to the same extent as In court; (3) participate in a class action in court or in
arbitration; or (4) join or consolidate a Claim with claims of any other person. The right to appeal is more limited in
arbitration than in court and other rights in court may be unavailable or limited in arbitration.
Claims Subject to Arbitration. A "Claim" subject to arbitration is any claim, dispute or controversy between You and Us (other than
an Excluded Claim or Proceeding as set forth below), whether preexisting, present or future, which arises out of, or relates to the
Contract, the negotiations related thereto, the breach thereof or any other transaction conducted with us in connection with the
Contract. "Claim" has the broadest possible meaning and includes initial claims, counterclaims, cross-claims, third-party claims and
federal, state, local and administrative claims. It includes disputes based upon contract, tort, consumer rights, fraud and other
intentional torts, constitution, statute, regulation, ordinance, common law and equity and includes claims for money damages and
injunctive or declaratory relief. Upon the demand of You or Us, Claim(s) will be resolved by individual (not class or class-wide)
binding arbitration in accordance with the terms specified in this arbitration provision.
Special Definitions. Solely for purposes of this arbitration provision, in addition to the meanings set forth in this Contract: (1) we,
"Us" and "Our" also (a) refer to Our employees, officers, directors, parents, controlling persons, subsidiaries and affiliates and (b)
apply to third parties if You assert a Claim against such third parties in connection with a Claim you assert against Us; and (2) "You"
or "Your" also refer to Your current or former spouse(s), children. heirs, estate, executors, successors, assigns, representatives and
beneficiaries.
Excluded Claim or Proceeding. Notwithstanding the foregoing, "Claim" does not include any dispute or controversy about the
validity, enforceability, coverage or scope of this arbitration provision or any part thereof (including, without limitation, the "Class
Action Waiver" set forth below and/or this sentence); all such disputes or controversies are for a court and not an arbitrator to decide.
However, any dispute or controversy that concerns the validity or enforceability of the Contract as a whole is for the arbitrator, not a
court, to decide. in addition, We will not require You to arbitrate any individual action brought by You in small claims court or Your
state's equivalent court, unless such action is transferred, removed, or appealed to a different court.
Federal Arbitration Act. Notwithstanding any other provision in this Contract, You and We agree that this Contract evidences a
transaction involving interstate commerce and that the Federal Arbitration Act (Title 9 of the United States Code) ("FAA") shall
govern its interpretation and enforcement and proceedings pursuant thereto. To the extent state law is applicable under the FAA, the
law of the state of Your domicile (where You regularly reside on the Contract Date) shall apply.
Class Action Waiver. Notwithstanding any other provision of this Contract, if a Claim is arbitrated, neither You nor We will
have the right: (a) to participate in a class action, private attorney general action or other representative action in court or in
arbitration, either as a class representative or class member; or (b) to join or consolidate Claims with claims of any other
Persons. No arbitrator shall have authority to conduct any arbitration in violation of this provision (provided, however, that
the Class Action Walver does not apply to any lawsuit or administrative proceeding filed against us by a state or federal
government agency even when such agency is seeking relief on behalf of a class of borrowers including You. This means that
We will not have the right to compel arbitration of any claim brought by such an agency). The Class Action Waiver is
nonseverable from this arbitration provision. If the Class Action Waiver is limited, voided or found unenforceable, then this
arbitration provision (except for this sentence) shall be null and void with respect to such proceeding, subject to the right to
appeal the limitation or invalidation of the Class Action Waiver.
Arbitration Procedures. If You or We seek to arbitrate a Claim, the Party socking arbitration must notify the other Party in writing.
This notice can be given after the beginning of a lawsuit and can be given in papers tiled in the lawsuit, such as a motion to compel
arbitration. Otherwise, Your notice must be sent to Us at the address specified in Section 6 (A) (2) of this Contract and Our notice
must be sent to the most recent address for You in our files. Any arbitration hearing that You attend will take place in a venue
reasonably convenient to where You reside. If a Party tiles a lawsuit in court asserting Claim(s) that are subject to arbitration, and the
other Party files a motion to compel arbitration with the court, which is granted, it will be the responsibility of the Party prosecuting
the Claim(s) to select an arbitration administrator in accordance with the paragraph below and commence the arbitration proceeding in
accordance with the administrator's rules and procedures.
Par,
08,115111 20 11 J 6, wrn:kvm(h Ori'mnations. 1.t,C
Accuuntlt)677415
'The arbitration will be administered by the American Arbitration Association ("AAA"), 1633 Broadway, 10t1i Floor, New York, NY
10019, www.adr.org, 1-800-778-7879 or JAMS, 1920 Main Street, Suite 300, Irvine, CA 92614, www.jainsadr.com, 1-800-352-5267.
The rules and forms of the AAA and JAMS inay be obtained by writing to these organizations at the addresses listed above. If the
AAA and JAMS are unable or unwilling to serve as administrator, the Parties may agree upon another administrator or, if they are
unable to agree, a court shall determine the administrator. No company may serve as administrator, without the consent of all Parties,
if it adopts or has in place any formal or informal policy that is inconsistent with and purports to override the terms of this arbitration
provision. In the event of a conflict between the provisions of this arbitration provision, on the one hand, and other provisions of this
Contract or any applicable rules of the AAA or .TAMS or other administrator used, on the other hand, the provisions of this arbitration
provision shall control.
A single arbitrator will be appointed by the administrator and must be a practicing attorney with ten or more years of experience or a
retired judge. The arbitrator will not be bound by judicial rules of procedure and evidence that would apply in a court, or by state or
local laws that relate to arbitration proceedings, The arbitrator will honor statutes of limitation and claims of privilege recognized
under applicable law. In determining liability or awarding damages or other relief, the arbitrator will follow this Contract and the
applicable substantive law, consistent with the FAA and this Contract, that would apply if the matter had been brought in court. At
Your written request, we will pay all tiling, hearing and/or other fees charged by the administrator and arbitrator to You for Claim(s)
asserted by You in arbitration after You have paid an amount equivalent to the fee, if any, for filing such Claim(s) in state or federal
court (whichever is less) in the judicial district in which You reside. (If You have already paid a filing fee for asserting the Claim(s) in
court, You will not be required to pay that amount again). In addition, the administrator may have a procedure whereby You can seek
a waiver of fees charged to You by the administrator and arbitrator. We will always pay any fees or expenses that We are required to
pay by law or the administrator's rules or that We are required to pay for this arbitration provision to be enforced. The arbitrator will
have the authority to award attorneys' and expert witness fees and costs to the extent permitted by this Contract, the administrator's
rules or applicable law. The arbitrator will always award You reasonable attorneys' and expert witness fees and costs (a) if and to the
extent You prevail on Claims you assert against Us in an arbitration commenced by You and (b) to the extent required under
applicable law for this arbitration provision to be enforced. The arbitrator shall write a brief explanation of the grounds for the
decision. A judgment on the award maybe entered by any court having jurisdiction.
Severability and Survival. If any part of this arbitration provision, other than the Class Action Waiver, is deemed or found to be
unenforceable for any reason, the remainder shall be enforceable. To the extent permitted by applicable law, this arbitration provision
shall survive the termination, cancellation or rescission of this Contract.
Effect of Arbitration Award. The arbitrator's award shall be final and binding on all Parties, except for any right of appeal provided
by the FAA. However, if the amount of the Claim exceeds $50,000 or involves a request for injunctive or declaratory relief that could
foreseeably involve a cost or benefit to either Party exceeding $50,000, any Party can, within 30 days after the entry of the award by
the arbitrator, appeal the award to a three-arbitrator panel administered by the administrator. The panel shall reconsider anew any
aspect of the initial award requested by the appealing Party. The decision of the panel shall be by majority vote. Reference in this
arbitration provision to "the arbitrator" shall mean the panel if an appeal of the arbitrator's decision has been taken. The costs of such
an appeal will be borne in accordance with the above paragraph titled "Arbitration Procedures." Any final decision of the appeal
panel is subject to judicial review only as provided under the FAA.
Right to Reject Arbitration Provision. You may reject this arbitration provision by sending Us written notice of Your decision so
that We receive it at the address listed below within forty-five (45) days of the Contract Date. Such notice must be sent by certified or
registered mail (return receipt requested) or by FcdEx or another major overnight delivery service with a delivery tracking system;
must include a statement that You wish to reject the arbitration provision along with Your name, address, Account I.U. number and
Your signature; and must be delivered to Us at the address specified in Section 6 (A) (2) of this Contract. This is the sole and only
method by which You can reject this arbitration provision. Upon receipt of a rejection notice, We will reimburse You for the standard
cost of a certified or registered letter or overnight delivery. Rejection of this arbitration provision will not affect any other terms of
this Contract and will riot result in any adverse consequence to You. You agree that Our business records will be final and conclusive
with respect to whether You rejected this arbitration provision in a timely and proper fashion. This arbitration provision will apply
to You and Us unless you reject it by providing proper and timely notice as stated herein.
Page 3
08/15/11 „ 2011 I.G. .Wentworth fhiginuuons. LLC
Account ID: 677415
10. MISCELLANEOUS
A. You give Us permission to conduct background checks on You, including obtaining information from the credit bureaus,
in order to verify Your legal residence, contact information, and any other information We deem necessary for this
transaction. We can also search records for UCC filings, bankruptcy filings, judgments, liens and child support.
obligations against You.
B. This Contract is the entire agreement between You and Us.
C. If there is more than one of Us or You, this Contract applies to all of those people together, and to each of them on their
own.
D. Both Parties must agree in writing to any change to this Contract or waiver of its terms.
E. Except as set forth in the arbitration provision in Section 9 of this Contract, if a court undoes any part of this Contract,
the rest of the Contract remains valid.
You cannot voluntarily or involuntarily sell, assign, or transfer this Contract, or any of Your rights or duties under this
Contract. Any such action taken by You in violation of this section shall be void and of no effect.
G. Except as otherwise required by applicable law, the law of the state of Your domicile (where You regularly reside on the
Contract Date) will govern this Contract.
H. This Contract also holds responsible Your heirs, and executors. This Contract benefits only You and Us, and no one else.
I lowever, if properly assigned by Us, this Contract will bind and benefit Our successors and assigns.
Failure to enforce any provision of this Contract is not a waiver of that provision.
The Parties may sign this Contract in one or more counterparts. Each counterpart will be considered an original. All
counterparts will form one Contract. A facsimile, pdf or other electronic copy of the signed Contract or any counterpart
will be considered an original and treated as such in any court [or arbitration] proceeding.
K. We have investigated the proposed transfer of the Purchased Payments and, in light of information available to Us, have
identified no violation of any applicable state or federal law.
L. You will not receive an IRS Form 1099 from Us.
M. Titles and headings in this Contract are for convenience only. Do not use them to interpret this Contract.
N. Except as otherwise set forth in this Contract (including the arbitration provision in Section 9 of this Contract), You and
We will pay our respective costs and expenses in carrying out this Contract.
You and We, intending to be legally bound, have signed this Contract as of the Contract Date below, and agree to all of its
terms and conditions, including the arbitration provision.
08/15!11
11:1u q
, 2011 J C. Wcntuvr'h (hiinnutions. Li..C
Accountll)677415
By signing below, You also acknowledge that You were advised by Us in writing, that You should obtain independent legal
advice and professional tax advice about the sale of the Purchased Payments and to have those advisors review with You, the
terns and legal, tax and other effects of this Contract.
Sworn to and subscribed SELLER:
before me this day of ........_. 20 ("Contract
Dale")
Notary c,OMMONWEAITH OF PM. SYLVANil1i>kephnie Mcfadden
Notarial Seal
ticverty U, t;attder a, Rutary .'ttblk
?k, lhorras Ibtp., FranRBn County
my cornnil5.41un Exptrr,5 jail. 7, 2413
LMe!nBt'r. P.,^.nntivl??a!!1r A°,c•::.di1rn of'Mc:4erl-„
Acknowledged and Agreed:
Sworn to and subscribed SELLER'S SPOUSE (if applicable)
before me this day of 20?
.. _...._..
Notary Spouse
US: J.G. Wentworth Originations, L,LC
O.w
BY:
Sam Gottesman, Underwriting Manager
I?: I
ng,ri:? I :!)! . t4•?-n:?r?;!;h a€?titu;'?l;n!t? i.l ('
AccountIR 677415
February 6, 2012
PENNSYLVANIA
DISCLOSURE STATEMENT
We will purchase the following payments (Purchased Payments) from You:
A) 1 payment of $43,208.00 on August 25, 2013 13) 1 payment of $1,000.00 on August 25,
2014
(The remainder of the page intentionally left blank)
u 2011 1.(i W'cnti%or(h Onginatiors. L.l_C
Account 11): 677415
1 e.bruary 6, 2012
The aggregate amount of the Purchased Payments is $44,208.00.
The discounted present value of the aggregate Purchase Payments at the federal interest
rate of 1.40% is $43,250.78. The discounted present value is the calculation of the current
value of the transferred structured settlement payments (Purchased Payments) under
federal standards for valuing annuities.
The gross amount payable to seller (You) is $31,350.00.
The net amount payable to the seller (You) is $31,350.00.
Legal fees (this is an estimate of what Your attorney will charge You if
You choose not to waive representation): $500.00
No other expenses are incurred by You.
The net amount that You will receive from Us in exchange for Your future structured
settlement payments represents 72.50% of the estimated current value of the payments
based upon the discounted value using the applicable federal rate.
Based on the net amount that You will receive in payment from Us and the amounts and
timing of the structured settlement payments that You are selling to Us, this is the
equivalent of interest payments to Us at a rate of 24.43% per year. PLEASE NOTE
THAT THIS IS NOT A LOAN, BUT A SALE OF PAYMENT RIGHTS AND THE
INTEREST FIGURE IS ONLY PROVIDED AS AN ILLUSTRATION OF THE
ECONOMIC IMPACT OF THE SALE.
Please be advised there are no penalties or liquidated damages payable by you in the event
of any breach of the transfer agreement by you.
By signing below, You are confirming receipt of this Disclosure Statement at least 10 days
prior to You first incurring an obligation with respect to the transfer agreement
(Purchase Contract).
s«N xERE
ST PHANIE M A.D.
2-
Accountln: 677415
February 6, 2012
ILLINOIS
DISCLOSURE STATEMENT
We will purchase the following payments (Purchased Payments) from You:
A) 1 payment of $43,208.00 on August 25, 2013 B) 1 payment of $1,000.00 on August 25,
2014
(The remainder of the page intentionally left blank)
AccountlD: 677415
February 6, 2012
The aggregate amount of the Purchased payments is $44,208.00.
The discounted present value of the aggregate Purchased Payments at the federal interest
rate of 1.40% is $43,250.78. The discounted present value is the calculation of the current
value of the transferred structured settlement payments (Purchased Payments) under
federal standards for valuing annuities.
The gross amount payable to seller (You) is $31,350.00.
No other expenses are incurred by You.
The net amount payable to the seller (You) is $31,350.00.
Based on the net amount that You will receive in payment from Us and the amounts and
timing of the structured settlement payments that You are selling to Us, this is the
equivalent of interest payments to Us at a rate of 24.43% per year. PLEASE NOTE
THAT THIS IS NOT A LOAN, BUT A SALE OF PAYMENT RIGHTS AND THE
INTEREST FIGURE. IS ONLY PROVIDED AS AN ILLUSTRATION OF THE
ECONOMIC IMPACT OF TIIL+' SALE.
Notice of Cancellation Rights:
You may cancel without penalty or further obligation, not later than the fifth business day
after Your receipt of payment from Us under the transfer agreement (Purchase Contract).
Please be advised there are no penalties or liquidated damages payable by You in the
event of any breach of the transfer agreement (Purchase Contract) by You.
By signing below, You are confirming receipt of this Disclosure Statement at least 3 days
prior to You executing the transfer agreement (Purchase Contract).
SIGN HERE
ST .p HANIE MC ADDEN
_,_
i.; : nt Wh ti,
?:,???
IMPORTANT NO'T'ICE..
You are strongly urged to consult with an attorney who can advise you of the potential tax
consequences of this transaction.
STEPHANIE MCFADDEN
I
Sworn to and subscribed
Before;me this day 20 -
Notary µ
t.UMMUNWEALI-H OF PENNSYLVANIA
Not"I Seal
Waverly U. Sanders, Notary Public
St. Thomas 71ap, Frw to County
My Cvmm6mlon t> ?Ztres Jan72013
Member. pennsM,rAntd Asrnlatlun of Nofpirs
ATTACHMENT/EXHIBIT "5"
.0,40,11111111
M
..(.',.WENTWRTH.
February 21, 2012
Allstate Life Insurance Company
3100 Sanders Rd., N3
Northbrook, 11, 60062
Attn: Legal Department/Structured Settlements
Allstate Settlement Corporation
3100 Sanders Rd. N3
Northbrook, IL 60062
Attn: Legal Departinent/Structured Settlements
RE: Notice of Sale/Assignment of Payment Rights
Your Contract #: 95007521
Paycc: Stephanie Mcfaddcn
SS #: 095-80-0115
Dear Insurer:
Please be advised that J.G. Wentworth Originations, LLC and/or its successors and assigns, have entered
into a transaction with the above-referenced annuitant who is seeking to transfer certain of his/her rights to
the payments scheduled to be received under the above-referenced annuity policy. We are currently seeking
court approval pursuant to the applicable structured settlement transfer statute. Pursuant to the statute,
please note the following information about the Purchaser:
J.G. Wentworth Originations, LLC
201 King of Prussia Road, Suite 200
Radnor, PA 19087
Tax Ill # 20-4728885
PLEASE NOTE: No payments under this annuity should be held until the courts have entered a final order
and we have forwarded this order to you.
Very truly yours,
J.G. Wentworth Originations, LLC
By:
Lori Borowski, Vicc President
201 KING OF PRUSSIA ROAD, SUITE 200 • RADNOR,, PA, 190$7
PHONE: (800) 790-4016 - FAX; (215) 567-5095
s _,
a\
MARO & MARO, P.C.
By: Robert A. Maro, Esquire
Attorney I.D. No.: 89585
1115 West Main Street
Norristown, PA 19401
(610) 275-9600
HEPROTHONOTARy
11 APR I 8 PM 3: 2 9
GU AND COUNTY
SYLVANIA
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
RE: Joint Petition of J.G. Wentworth NO: /o1-c239-(V
Originations, LLC and Stephanie McFadden
NOTICE OF HEARING ON PETITION TO TRANSFER STRUCTURED
SETTLEMENT PAYMENT RIGHTS
To: Allstate Life Insurance Company
Attn. Lisa Sterner, Claims
3100 Sanders Rd., N3
Northbrook, IL 60062
Allstate Settlement Corporation
Attn: Lisa Sterner, Claims
3100 Sanders Rd. N3
Northbrook, IL 60062
J.G. Wentworth Originations, LLC
201 King of Prussia Road
Radnor, PA 19087
Stephanie McFadden
O,VaTem
You are hereby given notice that J.G. Wentworth Originations, LLC has filed a petition
to transfer structured settlement payment rights. A hearing?in this matter has been scheduled on
Z tAA.A , 2012 at Ja3a lock in courtroom no. $ courthouse, Cumberland County
Court of Common Pleas, City Hall, Pennsylvania.
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.
The Name, Address and Tax Identification number of the transferee is J.
Originations, LLC. 201 King of Prussia Road, Radnor, PA 19087, Tax I.D. No.
Date
BY:
Attorney for J.G. Wentworth
Originations, LLC.
1115 W. Main Street
Norristown, PA 19401
(610) 275-9600
(610) 275-9666(facsimile)
3. Wentworth
20-4728885.
FiLED-OFFICE
O T14E PR0TH0N0TAF,%,,'
Reserved for Court Use.
2012 APR 18 PM 3: 4 `
CUM?AlAfiO COUNTY
PENNSYLVANIA
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
RE: Joint Petition of J.G. Wentworth NO: ?a2-o230?(o??vi 1
Originations, LLC and Stephanie McFadden ,Grp
INITIAL ORDER OF COURT
On this day of 2012, it is ordered that a
hearing on this Petition to Transfer Structured Settlement Payment Rights will be held on
W!j '?042- , in Courtroom 1 , at 10'. $(3 Ate 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.
eo?y,?,a??sCc
BY THE URT:
' Thomas A. Placey
Common Pleas Judge
Maro & Maro, P.C.
cnr
N fir, }
-C:)
Bv: Robert A. Maro, Esquire °
Attorney I.D. No.: 89585
1115 W
Main Street >` c
. '°?'
Norristown, PA 19401
(610) 275-9600 Attorney for JG Wentworth Origination, LLC
IN THE COURT OF COMMON PLEAS OF CUMBERLAND CO[JNTY ..
PENNSYLVANIA
IN RE: Joint Petition of JG Wentworth NO: 2012-2326 Civil
Originations, LLC and S. McFadden
CERTIFICATE OF SERVICE
1, Robert A. Maro, Esquire, hereby certify that a true and correct copy of the
Notice of Hearing was served upon the Payee, The Structured Settlement Obligor, The
Annuity Issuer, the Payee's Spouse and any person receiving child support, alimony or
alimony pendente lite.
A copy of the Notice is attached hereto.
Date: April 18, 2012
Byf/ ? -
Robert A. Maro, Esquire
Attorney for JG Wentworth
Originations, LLC
MARO & MARO, P.C.
By: Robert A. Maio, Esquire
Attorney I.D. No.: 89585
1115 West Main Street
Norristown, PA 19401
(610) 275-9600
IN THE COURT FO COMMON PLEAS OF CUMBERLAND COUNTY
PENNSYLVANIA
RE: Joint Petition of J.G. Wentworth
Originations, LLC and Stephanie McFadden NO. '?Zo u,
NOTICE OF HEARIN(' ON PETITION TO ISETTLEMENT PAYMENT RIGHTSR STRUCTURED
To: Allstate Life Insurance Company
Attn. Lisa Sterner, Claims J•G• Wentworth Originations, LLC
3100 Sanders Rd., N3 201 King of Prussia Road
Northbrook, IL 60062 Radnor, PA 19087
Allstate Settlement Corporation
Attn: Lisa Sterner, Claims Stephanie McFadden
3100 Sanders Rd. N3
Northbrook, IL 60062
You are hereby given notice that J.G. Wentworth Originations, LLC has filed a petition
to tran fer structured settlement payment rights. A hearing in this matter has been scheduled
-? ? - , 2012 at o;3d o clock in courtroom n Court of Common Pleas, City Hall, Pennsylvania. o._ courthouse, Cumberland County
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.
The Name, Address and Tax Identification nu
Originations, LLC. 201 King of Prussia Road, Radnor, PA 19087,
transferee J-G. Tax I.D. INo 0-4728 entworth
885.
Date BY:
ert A Maro, Esquire
Attorney for J.G. Wentworth
Originations, LLC.
1115 W. Main Street
Norristown, pA 19401
(610) 275-9600
(610) 275-9666(facsimile)
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
RE: Joint Petition of J.G. Wentworth No. 2012-2326-Civil
Originations, LLC and Stephanie McFadden
FINAL ORDER
AND NOW, thi7 day of May, 2012, it is ordered that the Joint Petition for Transfer
of Structured Settlement Payment Rights is granted.
The Court specifically finds that:
The payee, Stephanie McFadden a/k/a Stephanie Lynn McFadden a/k/a Stephanie
L. McFadden ("Ms. McFadden"), has established that the transfer is in the best interest of Ms.
McFadden and her dependents, if any, taking into account the welfare and support of her
dependents, if any.
2. Based on the certification by an attorney for the transferee, J.G. Wentworth
Originations, LLC ("Wentworth"), 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 applicable federal or state statute or regulation, or the order of any court' or
responsible administrative authority, or any applicable law limiting the transfer of workers'
compensation claims.
The transfer complies with the remaining requirements of the Pennsylvania
Structured Settlement Protection Act, 40 P.S. § 4001 et seg., including sections 4003(a)(2),
4003(a)(4), 4003(a)(5), and 4003(a)(6).
1 The Court has reviewed and considered the May 18, 1998 Order entered by the Supreme Court of New York,
Jefferson County, a copy of which is attached hereto as Exhibit "A," approving the underlying structured settlement.
The Court has further reviewed the April 19, 2012 Order of the Supreme Court of New York, Jefferson County, a
copy of which is attached hereto as Exhibit "B," granting express written approval of the proposed transfer.
BEO1/ 863918.2
Based upon the foregoing findings, IT IS HEREBY ORDERED that:
The payments that are to be transferred are designated as follows: one lump sum
payment of $43,208.00 due on August 25, 2013 and one lump sum payment of $1,000.00 due on
August 25, 2014 (the "Assigned Payments").
2. The annuity issuer, Allstate Life Insurance Company of New York ("Allstate Life
NY"), shall forward the Assigned Payments, within 7 days of the date due, by check made
payable to "J.G. Wentworth Originations, LLC," at P.O. Box 83364, Woburn, MA 01813-3364,
as follows; one lump sum payment of $43,208.00 due on August 25, 2013 and one lump sum
payment of $1,000.00 due on August 25, 2014.
The terms of this Order shall survive the death of Ms. McFadden and shall be
binding on Ms. McFadden's heirs, beneficiaries and assigns, and her death shall not affect the
right of Wentworth to receive the Assigned Payments.
4. In the event Wentworth further assigns or otherwise transfers the Assigned
Payments (or any portion thereof or interest therein) to another person or entity (a
"Reassignment"), Allstate Life NY and the structured settlement obligor, Allstate Settlement
Corporation (collectively, "Allstate"), will not be obligated to redirect the Assigned Payments (or
any portion thereof) to any person or entity other than Wentworth or to any payment address
other than that specified herein, and Wentworth and Ms. McFadden shall remain obligated to
comply with all terms and conditions herein and in the parties' Stipulation ("Stipulation").
Wentworth shall defend, indemnify, and hold harmless Allstate and its directors,
shareholders, officers, agents, employees, servants, successors, and assigns, and any parent,
subsidiary, or affiliate thereof, and their directors, shareholders, officers, agents, employees,
servants, successors, and assigns, past and present, from and against any and all liability,
BE01/ 863919.2 -2-
including but not limited to costs and reasonable attorneys' fees, for any and all. claims asserted
by any person or entity, including but not limited to any claims asserted by any person or entity
not a party hereto, claiming an interest in the Assigned Payments, and any and all other claims
made in connection with, related to, or arising out of the Purchase Contract between Wentworth
and Ms. McFadden, the proposed transfer, the Assigned Payments, any Reassignment, or
Allstate's compliance with the parties' Stipulation or this Order, except with respect to claims by
Wentworth against Allstate to enforce Allstate's obligations to Wentworth under the parties'
Stipulation. To the extent Wentworth fails to honor this indemnification and defense obligation,
Allstate may, in addition to all other remedies afforded by law, satisfy the same by withholding
to its own credit any remaining Assigned Payments.
6. Allstate's lack of opposition to this matter, or its or the other parties' stipulation
hereto or compliance herewith, shall not constitute evidence in this or any matter, and is not
intended to constitute evidence in this or any matter, that:
(a) payments under a structured settlement contract or annuity or related
contracts can be assigned or that "anti-assignment" or "anti-encumbrance"
provisions in structured settlement contracts or annuities or related
contracts are not valid and enforceable; or
(b) other transactions entered into by Wentworth and its customers constitute
valid sales and/or secured transactions; or
(c) Allstate has waived any right in connection with any other litigation or
claims; or
(d) Wentworth has waived any right other than as expressly set forth in the
parties' Stipulation and/or this Order.
BE01/ 863918.2 -3 -
7. Ms. McFadden shall receive from Wentworth the net amount of $31,350.00 from
which no funds are owed for counsel fees d inistrative fees, or other costs, fees, or expenses.
i
DONE IN OPEN COURT this
Judge
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BE01/ 863918.2 -4-
EXHIBIT A
BE01/ 863918.2
At a Special Term of the Sul ,reme
Court held in and for the Coun-.y of
Jafferson at the Dullee State 0.1 ice
Su
Jng, hat7Rrj_n' w York v. + the
day of 1s99.
PRESENT. HONORABL$ HUQH A. CJIL32RT
JUSTICE OF THE SUPREME COURT
STATE OF NEW YORK
SUPREME COURT COUNTY OF JzrVHRSON
In the Matter of the Application of
FREDERICK J. McFpADDEN for heave to Settle
the Claim of STEPHANIE LYNN MCFADDEN,
au Infant,
151,
' _...._ ..:..._'.
1
Ir
47
ORDER
Index No. q( GV11
Upon reading and filing the petition of Frederick J. Mc Fad ten,
father of Stephanie Lynn McFadden, an infant five years of .sge,
duly verified the 17th day of April, 1998; the affidavit of n.tvid
B. Geurtsenj)attorney for jthe infantaworn to on the 21st da%' of
{. ??'1sn1C?1f4f `iR?c?Gt.c•'z? 4'? •S.K.t';?? ? ?'':utlC ?+ %ctr?';•t 71P 71t?. ? 'rs 'c:?? ?/1ray
April, 1998.k_,and upon reviewing the edical reports' of Dr. Ricl and
withington; and it appearing:
That the said Stephanie Lynn McFadden sustained injurJes,
consisting of a broken femur, multiple abrasions, contusions aid a
laceration of her scalp when a car struck her while she was walk Lng
outside her home vu October 13, 1997 in the Town of Theresa, Cou.ity
of Jefferson and State of New York; and it further appearing
"•+•+'11 il.+.+ r.r q-?.:•r1 +?f a •.?pl 1'?i I
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That the driver of the vehicle which struck the infant of the
aforesaid date has not been ascertained and likely will na: be
ascertained; and it further appearing
That the medical hills incurred for the infant's treatnent
arising from this incident were as follows:
(1) Dr. Richard Withington $ 1,794.90
(2) Samaritan Medical Center $18,739.00
Total $20,533.90
And that the above charges have been paid by Alls:ate
insurance Company, except- for $129.53 which amount has been bi.led
to Allstate, and is expected to be paid by them] and it fur-.her
appearing
That an offer has been made by Allstate Insurance, the no-
tault insurance carrier for the infant's father, Frederick J.
McFadden, covering his automobile, to compromise the claims against
the McFadden insurance policy's supplemental un-underinaLred
motorist coverage arising out of the aforesaid accident by paying
the entire policy limits, or $25,000 in settlement of the infant's
claim, pursuant to which the said infant will receive two periciic
payments, the first on her twenty-first birthday on August 25, 431.3
and the second on her twenty-second birthday, totalling $44, 208. )0;
and it further appearing
2
.. i. - ",.,. -rp:Ill f>I - I,T r.-q 070-V1 n?_yl ?O`j -niA
That said offer has been made without any admissica-i of
liability or responsibility on the part of Frederick McFadden or
Christine Dorsey. the infant's parental and it further appealing
That for the purpose of this proceeding, David a. aeurtea)?, nn
associate with the firm of Conboy, McKay, Bachman Q Kendall, LLP,
who represents the infant, has drawn all papers relative thereto
for the said infant settlement proceeding, and that pet.itionei and
his attorneys have agreed than the sum of $6,350 shall be paid
immediately to Conboy, McKay, Bachman & Kendall, LLP out of the
proceeds of the insurance policy as and for attorneys fees and
disbursements; and it further appearing
That from the petitioner, Frederick McFadden, the fathe. of
Stephanie Lynn McFadden, an infant five years of age, he
understands the terms of the said settlement and is desirous :hat
he be appointed the guardian of the infant for the purpos- of
making this application for leave to settle the infant's claim and
that he is desirous that the aettlement be approved by the Coixt;
NoW, TNEREfVRE, pursuant to Section 120'7 and Section izoi of
the New York Civil Practice Law and Rules, and upon motion of
Conboy, McKay, Bachman EL Kendall, LLP, David a. Geurtsen, of
counsel, attorneya for the infant, it is
ORDERED, that Frederick J. McFadden, individually and as
parent and natural guardian of Stephanie Lynn McFadden, an i.ntant
3
-Fp I 0T0? S SZS1 E DOW 3M30%AS 3101STIU : Q 181-PI 86. 82/50 99L *0N 3'113
•
•
five years of age, be and is hereby authorized, empowered and
directed to settle all claims arising out of the inciden: on
October 13, 1997 in which Stephanie Lynn McFadden suatiined
personal injuries when an unidentified vehicle, owned and opezated
by an unidentified driver struck the Infant while she w;?s e
pedestrian on Red Cloud Street, Indian River Estates, Tow.t of
Theresa, County of Jefferson and State of New York, upon paytnert by
the said Allstate Insurance and/or their representatives of the
a#%41 d? s tx?,ri,?
amount of $6,350 in attorney's fess?o Carboy, C1k&y, Bachman and
Kefida ll, LLp, and payment of $18,650 to purchase an annuity
contract, which shall pay two installments, the first upon the
infant attaining the age of twenty-one years on August 25, 2113,
and the second upon her attaining twenty-two years of age an Au-just
25, 2014, totalling $44,209.00 dollars; and it is further
ORDSM, that Frederick J. McFadden and/or his representat..ve,
Allstate Insurance, are hereby directed to obtain an annuity
contract from Allstate Life endurance Company of New York, an 'A+"
rated insurance company, and a subsidiary of Allstate Insurance.
the terms of which annuity shall require Allstate Insurance Cuutil-any
Lo pay to Stephanie Lynn McFadden the sum of $43,208.00 on her
twenty-first: birthday, and $1, 000.00 on her twenty-second births ay;
and it is further
4
nTM1ri7.1,1% frill 3SfrjtWS 31U16TJ*G1 61:01 86. 87/94 95L 'OW 311
ORDERED, that the petitioner, Frederick J. McFadden, is hi:reby
appointed the guardian and representative of the infant for the
purposes of this proceeding only and that the bond be and the same
is hereby dispensed with; and it is further
ORDERED, that the said Frederick J. McFadden. individuall!•and
as parent and natural guardian of Stephanie Lynn McPaddelL an
infant, and Christine Dorsey, the infant's natural mother, shall
upon compliance of Alletate Insurance with the terms of this carder
deliver a duly executed release discharging and releasing Allu:ate
insurance from any and all claims of any nature whateoever which
the maid infant, Stephanie Lynn McFadden, or which the laid
r'rederick McFadden or Christine Dorsey now or may hereafter hav : as
a tumult of the suid accident occurring on October 13, 1997 and
resulting in Lhe injury to the said infant, Stephanie :4ynn
McFadden; and it io further
ORDERED, that the Corm of the release shall be in the form
attached hereto am Exhibit "A'.
ENTER
Dated: 1998
,F H A. DILBERT
ics THE Sul'REME couti r
TY OF JHFFERSON
5
. -^ 4.114- -It 14 : ?'P}i Il l R1 OT AR 97YCO1 S)q/. ' OPI 9-11 -1
EXHIBIT B
BE01/ 863918.2
??? M D
d a r ?'}
TREVETT CRISTO SALZER & ANDOLINA P.C.
ATTORNEYS AT LAW
2 STATE STREET, SUITE 1000
ROCHESTER, NEW YORK 14614
(585) 454-2181
SUPREME COURT
STATE OF NEW YORK COUNTY OF JEFFERSON
In the Matter of the Petition of
J.G. Wentworth Originations, LLC,
and
Petitioner,
ORDER
Stephanie McFadden, Allstate Settlement
Corporation and Allstate Life Insurance Company
As Interested Persons pursuant to GOL §5-1701(c).
Index No. 12-465
The Petitioner, J.G. Wentworth Originations, LLC, having moved by Order to
Show Cause and Petition dated March 23, 2012 for an Order pursuant to CPLR
510(3) for permission to proceed with an application to transfer a portion of her
structured settlement in the Court of Common Pleas of Cumberland County, State of
Pennsylvania and there being no opposition to the entry of this Order and after due
deliberation
NOW upon motion of Trevett Cristo Salzer & Andolina, P.C., Allison L. Marley,
Esq., of counsel, it is
ORDERED, that permission is hereby given for the Payee, Stephanie
McFadden, to seek to transfer a portion of her structured settlement in the Court of
Common Pleas of Cumberland County
ENTER this day of t ! V
Waterown, New York
KGI9 A. GICBE
Court Justice
2