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HomeMy WebLinkAbout02-0820 SEP 1. 2 2002 ..; IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA IN RE: ABBY BOND and RAY BOND, Individually and as Parents and Natural Guardians of CAITLIN BOND, a Minor, Petitioners No. 21. 0 2. - ~ Z.O ORDER AND NOW, "'" ~ <fuy of ~ ,2002, "POO consideration of the Petitioners' Petition for Approval of Minor's Compromise Settlement, it is hereby ORDERED and DECREED that: I. The settlement in favor of Caitlin Bond, a minor, is hereby approved; 2. The Petitioners are authorized and directed to sign any and all documents in order to effectuate said settlement, including a Release in favor of Debra Reidel, the form of which is attached to the Petition as Exhibit A; and 3. After its receipt of the signed release documents, One Beacon Insurance Company is hereby directed to pay the amounts set forth in the Petition. BY THE COURT: J. !.' L :. I ~ L. ~ \' ~i'l. :178495.2 IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA IN RE: ABBY BOND and RAY BOND, Individually and as Parents and Natural Guardians of CAITLIN BOND, a Minor, Petitioners No. 2\-02-~20 PETITION FOR APPROVAL OF MINOR'S COMPROMISE SETTLEMENT Abby Bond and Ray Bond, Individually and as Parents and Natural Guardians of Caitlin Bond, a minor, by and through Thomas, Thomas & Hafer, LLP, hereby file this Petition for Approval of Minor's Compromise Settlement and in support thereof aver as follows: I. Petitioners herein are Abby Bond and Ray Bond, individually and as parents and natural guardians of Caitlin Bond, a minor, who currently reside at 351 Reagle Road, Marysville, Pennsylvania 17053. 2. The minor, Caitlin Bond, is currently 12 years of age, having been born on July 6, 1990. Caitlin Bond currently resides with her parents at 351 Reagle Road, Marysville, Pennsylvania 17053. 3. On May 3, 2000, Caitlin Bond was a guest at the home of Debra Reidel and was injured by Debra Reidel's dog, when the dog bit her lower lip. 4. As a result of this incident, minor Caitlin Bond sustained abrasions to her right forearm and injuries to her lower lip. The injuries to her lip required sutures on the date of the incident, and follow up laser surgery to reverse the scarring that resulted from the injury. 5. At the time of the incident, Debra Reidel was insured by a policy of insurance issued by One Beacon Insurance Company. 6. All medical bills incurred to date for medical care for the minor resulting from the injuries sustained on May 3, 2000 have been paid to the best of Petitioners' knowledge. 7. The minor's physicians have advised Petitioners that no more medical treatment is recommended. 8. To fully settle and discharge any and all claims which have, or which might arise from the incident described hereinabove, Petitioners have agreed to accept periodic payments made payable to Caitlin Bond by way of a structured settlement which provides as follows: Five Thousand Dollars and No Cents ($5,000.00) annually, beginning July 6, 2008 through July 6, 2011; and Ten Thousand Dollars and No Cents ($10,000.00) guaranteed to be paid on July 6, 2012; and Twenty-Four Thousand Two Hundred Seventy-One Dollars and Fourteen Cents ($24,271.14) guaranteed to be paid on July 6, 2015; and no further payments beyond July 6, 2015. 9. Petitioners believe that the minor has satisfactorily recovered from her injuries and that the settlement enumerated in this Petition is fair and equitable and is in the best interests of the minor. 10. In exchange for the payments referenced above, Petitioners Abby and Ray Bond, individually and as parents and natural guardians of Caitlin Bond, have agreed to execute a release of all claims in favor of Debra M. Reidel and her insurer, One Beacon Insurance Company. II. On behalf of Debra M. Reidel, One Beacon Insurance Company has offered to pay the sums set out in this Petition toward an amicable resolution of the claims in exchange for Court approval and a fully executed Settlement Agreement and Release. A true and correct copy of the Settlement Agreement and Release is attached hereto, incorporated herein by reference and marked as Exhibit A. WHEREFORE, Petitioners respectfully request that this Honorable Court enter an Order approving the foregoing compromise settlement directing the distribution of proceeds as set forth above and authorizing and directing Petitioners, upon payment ofthe aforesaid sum, to execute a full and final Settlement Agreement and Release. Respectfully submitted, THOMAS, THOMAS & HAFER, LLP Date: :178495.1 q/u/(J).. I . ByG~A()wi-1o te en E. Geduldlg LD. No. 43530 Laura A. Gargiulo I.D. No. 86128 305 North Front Street P.O. Box 999 Harrisburg, PA 17108-0999 (717) 237-7100 Attorneys for Petitioners VERIFICATION I, Abby Bond, do hereby verity that I am a Petitioner in the above-captioned action and further verity that I have read the foregoing document and that it is true and correct to the best of my knowledge, information and belief. I understand that false statements herein are made subject to the penalties of 18 Pa.e.S. !l4904, relating to unsworn falsification to authorities. AbbYBrJ( VJ:~ ~/0/dCDd-- I I Date: VERIFICATION I, Ray Bond, do hereby verifY that I am a Petitioner in the above-captioned action and further verifY that I have read the foregoing document and that it is true and correct to the best of my knowledge, information and belief. I understand that false statements herein are made subject to the penalties of 18 Pa.C.S. S 4904, relating to unsworn falsification to authorities. Date: q-19-o~ ..y~~J2"J -' SETTLEMENT AGREEMENT AND RELEASE THIS SETTLEMENT AGREEMENT AND RELEASE (the "Settlement Agreement") is made and entered into this day of , 20_ by and between [among]: "CLAIMANTS" ABBY BOND and RAY BOND, Individually and as Parents and Natural Guardians of CAITLIN BOND, a Minor "DEFENDANT" DEBRA M. REIDEL "INSURER" ONE BEACON INSURANCE COMPANY RECITALS A. On or about May 3, 2000, minor Claimant, Caitlin Bond, suffered an injury at or near 36 Wetherburn Road, Enola, Pennsylvania. Claimants allege that the incident and resulting physical injuries arose out of certain alleged negligent acts or omissions of the Defendant, and has made a claim seeking monetary damages on account of those injuries. B. Insurer is the liability insurer of the Defendant, and as such, would be obligated to pay any claim made or judgment obtained against Defendant which is covered by its policy with Defendant. C. The parties desire to enter into this Settlement Agreement in order to provide for certain payments in full settlement and discharge of all claims which have, or might be made, by reason of the incident described in Recital A above, upon the terms and conditions set forth below. AGREEMENT The parties agree as follows: 1.0 RELEASE AND DISCHARGE 1.1 In consideration of the payments set forth in Section 2, Claimants hereby completely release and forever discharge Defendant and Insurer from all past, present or future claims, demands, obligations, actions, causes of action, wrongful death claims, rights, damages, costs, losses of services, expenses and compensation of any nature whatsoever, whether based on a tort, contract or other theory of recovery, which the Claimants now have, or which may hereafter accrue or otherwise be acquired, on account of, or may in any way grow out of the incident described in Recital A above, including, without limitation, any and all known or unknown claims for bodily and personal injuries to Claimants, or any future wrongful death claim of Claimants' representatives or heirs, which have resulted or may result from the alleged acts or omissions of the Defendant. 1.2 This release and discharge shall also apply to Defendant's and Insurer's past, present and future officers, directors, stockholders, attorneys, agents, servants, representatives, employees, subsidiaries, affiliates, partners, predecessors and successors in interest, and assigns and all other persons, firms or corporations with whom any of the former have been, are now, or may hereafter be affiliated. 1.3 This release, on the part of the Claimants, shall be a fully binding and complete settlement among the Claimants, the Defendant and the Insurer, and their heirs, assigns and successors. 1.4 The Claimants acknowledge and agree that the release and discharge set forth above is a general release. Claimants expressly waive and assume the risk of any and all claims for damages which exist as of this date, but of which the Claimants do not know or suspect to exist, whether through ignorance, oversight, error, negligence, or otherwise, and which, if known, would materially affect Claimants' decision to enter into this Settlement Agreement. The Claimants further agree that Claimants have accepted payment of the sums specified herein as a complete compromise of matters involving disputed issues of law and fact. Claimants assume the risk that the facts or law may be other than Claimants believe. It is understood and agreed to by the parties that this settlement is a compromise of a doubtful and disputed claim, and the payments are not to be construed as an admission of liability on the part of the Defendant, by whom liability is expressly denied. 2 1.5 It is understood and agreed that the Claimants warrant that no Insurer, attorney, employer, judgment creditor or other person has any type of lien or prospective lien upon the cause of action described in Recital A above or upon the proceeds of this settlement; the Claimants further agree to defend, indemnify and hold harmless the parties released herein from any such claims or actions or from any other claims or actions brought against them by virtue of any inaccuracies or omissions in any representations made herein by the undersigned. 1.6 It is understood and agreed further that any and all liens or claims arising out of the incident will be the responsibility of and will be paid and discharged out of the settlement proceeds by Claimants or their representatives, assigns, successors in interest and executors. 2.0 PAYMENTS In consideration of the release set forth above, the Insurer, on behalf of the Defendant, agrees to pay to the individual(s) named below ("Payee(s)") the sums outlined in this Section 2 below: 2.1 Payments due at the time of Settlement as follows: There is no cash payment at this time. 2.2 Periodic payments made according to the schedule as follows (the "Periodic Payments"): Payee: Caitlin Bond Five Thousand Dollars and No Cents ($5,000.00), annually, beginning July 6, 2008 through July 6, 2011; and, Ten Thousand Dollars and No Cents ($10,000.00) guaranteed to be paid on July 6, 2012; and, 3 Twenty-Four Thousand Two Hundred Seventy-One Dollars and Fourteen Cents ($24,271.14) guaranteed to be paid on July 6, 2015; and, no further payments beyond said date. 2.3 Plaintiffs hereby warrant and represent that Caitlin Bond was born on July 6, 1990. Notwithstanding anything to the contrary herein, if the actual date of birth is not as stated above, and if Insurer or Assignee relies or has relied to its detriment on the accuracy of the above-stated date of birth, then Insurer may adjust the amount and/or timing or remaining Periodic Payments so that no additional cost than that necessary to purchase the Annuity Contract is incurred by the Insurer or Assignee. All sums set forth herein constitute damages on account of physical injuries and sickness, within the meaning of Section 104(a)(2) of the Internal Revenue Code of 1986, as amended. 3.0 CLAIMANTS' RIGHTS TO PAYMENTS Claimants acknowledge that the Periodic Payments cannot be accelerated, deferred, increased or decreased by the Claimants; nor shall the Claimants have the power to sell, mortgage, encumber, or anticipate the Periodic Payments, or any part thereof, by assignment or otherwise. 4.0 CLAIMANTS' BENEFICIARY Any payments to be made after death of Caitlin Bond, pursuant to the terms of this Settlement Agreement, shall be made to the Estate of Caitlin Bond. Upon reaching the age of majority, Caitlin Bond shall have the right to submit a request to change the Beneficiary designation. No such designation, nor any revocation thereof, shall be effective unless it is in writing, signed by Caitlin Bond, and delivered to the Insurer or the Insurer's Assignee. The designation must be in a form acceptable to the Insurer or the Insurer's Assignee before such payments are made. 4 5.0 CONSENT TO QUALIFIED ASSIGNMENT 5.1 Claimants acknowledge and agree that the Defendant and/or the Insurer may make a "Qualified Assignment", within the meaning of Section 130(c) of the Internal Revenue Code of 1986, as amended, of the Defendant' and/or the Insurer's liability to make the Periodic Payments set forth in Section 2.2 to CGU Annuity Service Corporation ("the Assignee"). The Assignee's obligation for payment of the Periodic Payments shall be no greater than that of the Defendant and/or the Insurer (whether by judgement or agreement) immediately preceding the assignment of the Periodic Payments obligation. 5.2 Any such assignment, if made, shall be accepted by the Claimants without right of rejection and shall completely release and discharge the Defendant and the Insurer from the Periodic Payments obligation assigned to the Assignee. The Claimants recognize that, in the event of such an assignment, the Assignee shall be the sole obligor with respect to the Periodic Payments obligation, and that all other releases with respect to the Periodic Payments obligation that pertain to the liability of the Defendant and the Insurer shall thereupon become final, irrevocable and absolute. 5.3 CGU Life Insurance Company of America will issue a letter guaranteeing the performance of the obligations assigned to CGU Annuity Service Corporation by way of a Qualified Assignment Agreement and for which CGU Annuity Service Corporation purchases an annuity from CGU Life Insurance Company of America to cover these same obligations. 6.0 RIGHT TO PURCHASE AN ANNUITY The Insurer, through its Assignee, reserves the right to fund the liability to make the Periodic Payments through the purchase of an annuity policy from CGU Life Insurance Company of America. The Assignee shall be the sole owner of the annuitypolicy and shall have all rights of ownership. The Assignee may have CGU Life Insurance Company of America mail payments directly to the Payee(s). The Claimants shall be responsible for maintaining a current mailing address for Payee(s) with CGU Life Insurance Company of America. 5 7.0 DISCHARGE OF OBLIGATION The obligation of the Assignee to make each Periodic Payment shall be discharged upon the mailing of a valid check in the amount of such payment to the designated address of the Payee(s) named in Section 2.2 of this Settlement Agreement. 8.0 REPRESENTATION OF COMPREHENSION OF DOCUMENT In entering into this Settlement Agreement, the Claimants represent that the terms of this Settlement Agreement have been completely read by Claimants; and that the terms of this Settlement Agreement are fully understood and voluntarily accepted by Claimants. 9.0 WARRANTY OF CAPACITY TO EXECUTE AGREEMENT Claimants represent and warrant that no other person or entity has, or has had, any interest in the claims, demands, obligations, or causes of action referred to in this Settlement Agreement, except as otherwise set forth herein; that Claimants have the sole right and exclusive authority to execute this Settlement Agreement and receive the sums specified in it; and that Claimants have not sold, assigned, transferred, conveyed or otherwise disposed of any of the claims, demands, obligations or causes of action referred to in this Settlement Agreement. 10.0 CONFIDENTIALITY The parties agree that neither they nor their representatives shall reveal to anyone, other than as may be mutually agreed to in writing, any of the terms of this Settlement Agreement or any of the amounts, numbers or terms and conditions of any sums payable to Payee(s) hereunder. 11.0 GOVERNING LAW 6 This Settlement Agreement shall be construed and interpreted in accordance with the laws of the Commonwealth of Pennsylvania. 12.0 ADDITIONAL DOCUMENTS All parties agree to cooperate fully and execute any and all supplementary documents and to take all additional actions that may be necessary or appropriate to give full force and effect to the basic terms and intent of this Settlement Agreement. 13.0 ENTIRE AGREEMENT AND SUCCESSORS IN INTEREST This Settlement Agreement contains the entire agreement between the Claimants, the Defendant and the Insurer with regard to the matters set forth in it and shall be binding upon and inure to the benefit of the executors, administrators, personal representatives, heirs, successors and assigns of each. 14.0 EFFECTIVENESS This Settlement Agreement shall become effective immediately following execution by each of the parties and upon approval by a court having proper jurisdiction. CLAIMANTS By: Abby Bond, Individually and as Parent and Natural Guardian of Caitlin Bond, a minor Date: 7 By: Ray Bond, Individually and as Parent and Natural Guardian of Caitlin Bond, a minor Date: INSURER One Beacon Insurance Company By: Title: Date: 8