HomeMy WebLinkAbout14-5572FAFILES \ Clients \ 15725 Bonawitz 15725. I .petition.wpd
Ivo V. Otto, III, Esquire
Attorney I.D. No. 27763
Katie J. Maxwell, Esquire
Attorney I.D. No. 206018
MARTSON DEARDORFF WILLIAMS OTTO GILROY & FALLER
MARTSON LAW OFFICES
10 East High Street
Carlisle, PA 17013
(717) 243-3341
Attorneys for Plaintiff
IE PRO fliOHJI,k
2t1ILISEP 19 Atilt: 36
CUMBERLAND COUNTY
PENNSYLVANIA
LORNE P. BONAWITZ,
Petitioner
: IN THE COURT OF COMMON PLEAS OF
: CUMBERLAND COUNTY, PENNSYLVANIA
v. : NO. 14 - 53101 -CIVIL TERM
•
ERIE FAMILY LIFE INSURANCE,
Respondent
PETITION TO ACCELERATE
STRUCTURED SETTLEMENT PAYMENTS
AND NOW, comes the Petitioner, Lorne P. Bonawitz, by and through his attorneys,
MARTSON LAW OFFICES, and in support of his Petition avers the following:
1. Petitioner Loren P. Bonowitz ("Petitioner") is an adult individual of sound mind
residing at 660 North Middlesex Road, Carlisle, Cumberland County, Pennsylvania 17013.
2. Petitioner was injured in an accident at the Holly Milk Plant in South Middleton
Township, Cumberland County, Pennsylvania, on December 13, 1993.
3. Petitioner and Erie Insurance Company, the issuer of the insurance policy covering
the business where the Petitioner was injured, entered into a Release and Structured Settlement
Agreement on January 28, 1999.
4. Petitioner is the payee under an annuity owned by Erie Insurance Company and issued
by Erie Family Life Insurance Company as evidenced by Certificate No. 605-196. A true and correct
copy of said Certificate is attached hereto as Petitioner's Exhibit "A".
5. The structured settlement provides payment to the Petitioner as follows:
A.
Beginning April 1, 1999, the sum of $1,250.00 monthly to be paid to the
Petitioner until March 1, 2039.
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B. There is a guaranteed total payout of $600,000.00.
6. Erie Family Life Insurance Company is amenable to paying the Petitioner on an
accelerated schedule if the Court approves Petitioner's request.
7. The accelerated payment to Petitioner would correspond with the following schedule:
A. Petitioner would receive a lump sum payment on October 1, 2014, of
$150,313.00.
B. Petitioner's regular monthly payment would be reduced to $315.16 from
November 1, 2014 until April 1, 2039.
C. On April 1, 2039, Petitioner's regular payment of $1,250.00 would resume.
8. Petitioner is amenable to accepting the lump sum payment of $150,313.00, and a
reduced payment of $315.16 for the next 40 years rather than the scheduled payment of the balance
of the annuity over the rest of his life.
9. Payment of a lump sum is in Petitioner's best interest as he is using the funds to
purchase a home.
WHEREFORE, Petitioner respectfully requests this Honorable Court to enter an Order
permitting Erie Family Life Insurance Company to accelerate the agreed upon structured settlement
payments to Petitioner and pay Petitioner a lump sum payment in the amount of $150,313.00 on or
before October 1, 2014, and reduced payments of $315.16 from November 1, 2014 through March 1,
2039, before resuming regular payments of $1,250.00 on April 1, 2039, for the remainder of
Petitioner's life.
Respectfully submitted,
MARTSON LAW OFFICES
By:
Date:
Ivo V. Ot a, II , Esquire
Attorney I.. 27763
Katie J. Maxwell, Esquire
Attorney I.D. 206018
10 East High Street
Carlisle, PA 17013
(717) 243-3341
Attorneys for Petitioner
CERTIFICATE OF SERVICE
I, Mary M. Price, an authorized agent for Martson Deardorff Williams Otto Gilroy & Faller,
hereby certify that a copy of the foregoing Petition was served this date by depositing same in the
Post Office at Carlisle, PA, first class mail, postage prepaid, addressed as follows:
Meg Rosthal, Esquire
Erie Family Life Insurance Company
100 Erie Insurance Place
Erie, PA 16530
MARTSON LAW OFFICES
M. Price
en East High Street
Carlisle, PA 17013
(717) 243-3341
Dated: 7/, 07