HomeMy WebLinkAbout12-5672IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
RE: Joint Petition of Peachtree Settlement N0:2012-5672
Funding, LLC and Nicholas Montague
ORDER
Order For:
Payee: Nicholas Montague
Obligor: Farmers Services Corporation
Issuer: Farmers New World Life Insurance Company
Transferee: Peachtree Settlement Funding, LLC
Hearing Date: 10.31.2012
AND NOW, this 31 S` day of October, 2012, upon consideration of the unopposed petition
of Peachtree Settlement Funding, LL,C ("Peachtree"), and the Order or settlement agreement
approving the underlying structured settlement, the Court hereby finds as follows:.
The payee, Nicholas Montague ("Mr. Montague"), has established that the
transfer is in the best interest of Mr. Montague and his dependents, if any, taking into account the
welfare and support of his dependents, if any.
2. Based on the certification by an attorney :for the transferee, Peachtree Settlement
Funding, LL.C ("Peachtree"), 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 la.w 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)(Ei).
Based on the foregoing findings, IT IS HEREBY ORDERED THAT:
The payments that are to be transferred are designated as follows: one lump sum payment
of $ l 0,000.00 (out of the total lump sum payment of $12,000.00) due on August 12. 2014; and
one lump sum payment of $12,OOO.C-0 (out of the total lump sum payment of $18,8 (5.(:10) due on
August 12. 2016 (the "Assigned Payments").
FN W Life shall forward the Assigned Payment(s), within 7 days of the date due, to
"Peachtree Settlement Funding, LLC," at P.O. Box 83364, Woburn, MA 01813-3364: by check
made payable to: ones lump sum payment of $10,000.00 (out of the total lump sum payment of
$12,000.00) due on August 12, 2014; and one lump sum payment of $12,000.00 (out of the total
lump sum payment of $18,815.00) due on August 12, 2016 .
4. The terms of this Order shall survive the death of Mr. Montague and shall be
binding on Mr. Montague's heirs, beneficiaries and assigns, and her death shall not: affect the
right of Peachtree to receive the Assigned Payments.
5. In the event Peachtree further assigns or otherwise transfers the Assigned
Payment(s) (or any portion thereof or interest therein) to another person or entity (a
"Reassignment"), Farmers will not itself be obligated to redirect the Assigned Payment(s) (or
any portion thereof) to any person or entity other than Peachtree or to any payment address
other than that specified herein, and Peachtree shall remain obligated to comply with all terms
and conditions herein.
6. All remaining Periodic Payment(s) (and/or portions thereof), if any., that are not
the subject of the Proposed Transfer and not previously assigned, shall be made payable to Mr.
Montague and will be forwarded by FNW Life, when due, to Mr. Montague' most recent known
address or any payment address designated by Peachtree, subject to Farmers' consent.
T. Peachtree shall defend, indemnify, and hold harmless Farmers, 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,
including but not limited to costs and reasonable attorney's fees, for any and all claims made in
connection with, related to, or arising out of the Purchase Agreement, the Proposed Transfer,
the Assigned Payment(s), any Reassignment, or Farmers' compliance with the parties'
Stipulation or this Order, except with respect to claims by Peachtree against Farmers to enforce
Farmers' obligations to Peachtree under the parties' Stipulation. To the extent that Peachtree
fails to Honor this indemnification and defense obligation, Farmers may, in addition to all other
remedies afforded by law, satisfy the same by withholding to its own credit the Assigned
Payment(s).
8. Farmers' lack of opposition to this matter, or its or Peachtree 's 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 o~- 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 Peachtree and its customers constitute
valid sales and,ior secured transactions; or
c. Farmers has w;~ived any right in connection with any other litigation or
claims; or
d. Peachtree has waived any right other than as expressly set forth in the
parties' Stipulation and/or this Order.
9. Peachtree and Mr. Montague, for themselves and for their respective directors,
shareholders, officers, agents, employees, servants, successors, heirs, beneficiaries.. contingent
beneficiaries, executors, administrators, and assigns, and any parent, subsidiary, or affiliate
thereof, a:nd their directors, shareholders, officers, agents, employees, servants, successors, and
assigns, past and present (the "Releasors"), hereby remise, release and forever discharge
Farmers and their 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 (the "Farniers
Releasees''), of and from any and all manner of actions and causes of action, suits, debts, dues,
accounts, bonds, covenants, contracts, agreements, judgments, settlements, damages, claims,
and demands whatsoever, in law or in equity, in connection with, related to, or arising out of
any claim or allegation that was or could have been asserted in connection with, related to, or
arising out of the Purchase Agreement, the Assigned Payment(s), the Proposed Transfer, or the
parties' Stipulation, which against each other or the Farmers Releasees, the Releasors have or
had from the beginning of the world through the date of this Order, except for claims of
Releasors against the Farmers Releasees to enforce the Farmers Releasees' obligations to
Releasors. if any, under the parties' Stipulation or this Order.
11). Mr. Montague will receive $12,891.00 in exchange far one lump sum payment
of $10,000.00 (out of the total lump sum payment of $'I2,000.00-due on August 12. 2014; and
one lump sum payment of $12,000.00 (out of the total lump sum payment of $18,81.5.00) due
on August 12, 2016.
ST'
DONE IN OPEN COI.JRT this day of October, 2012.
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