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HomeMy WebLinkAbout95-05463 .. .. COlCRIII, GUDII, .0IA'I'0 . MAU.., a'l LIla J. MAUD, .,gUll. Attorney I.D. 65426 The commons at Valley Forge suite Seven, P.O. Box 987-23 Valley Forge, Pennsylvania 19482 (610) 933-3333 I'.C. Attorney for Plaintiff(s) CANDICE STARUH, a minor, by LOIS STARUH, her parent and natural guardian, COURT OF COMMON PLEAS CUMBERLAND COUNTY plaintiffs vs. NO. WASHINGTON COLLEGE Defendant In Re: CANDICE STARUH, A MINOR I'1'l'1'I'IOII .0. LDV. '1'0 001111.0111,. IIIIIOR'8 ACTIOII TO THE HONORABLE, THE JUDGES OF THE SAID COURT: The Petition of Lois Staruh, parent and natural guardian of minor, candice staruh, respectfully represents that: 1. She is the sole surviving parent and natural guardian of candice Staruh, a minor, age thirteen, who was injured on January 15, 1994, while a passenger in a vehicle which was struck by a vehicle owned by oefendant, Washington College. 2. Candice staruh, minor, and Lois Staruh currently reside at 155 B. street, Carlisle, cumberland county, Pennsylvania, 17013. 3. This petition is brought in Cumberland county because the Plaintiffs are residents of Cumberland county and the accident also occurred in Cumberland county, Pennsylvania. 4. The accident occurred when the vehicle owned by Defendant Washington college and driven by Peter J. Basel struck the rear of the vehicle in which candice Staruh, a minor, was a passenger. 5. As a result of the aforesaid incident, Candice Staruh suffered .. ~,,,,,..,,-~". .. . vertebral subluxations at C6, C7, Tl, T2, T3 and L4; wedged disos at C4- 5, T4-5, T7-8, T12-Ll and L3-4, cervical kyphosis, chronic cervical and lumbar muscle ligament strain oausing pain in her neck and low baok, with numbness in both legs, and restriction of cervical range of motion. 6. candice staruh was treated by Thomas A. Boch, D.C. and Jay Cho, M.D. She also underwent physical therapy instruotion at the Alexander spring Rehabilitation center. 7. candice staruh has been discharged from the care of all physicians and has reached maximum chiropractic care. as indioated in the report of Dr. Boch, attached hereto as Exhibit "A". 8. The following expenses have been incurred for treatment of said minor, all of which have been paid in full by Plaintiff's insuranoe carrier: Booh chiropractic clinic (01/31/94 to 06/14/94) $3,925.00 Jay Cho, M.D. (11/02/94 and 12/27/94) 110.00 Alexander springs Rehab (11/29/94) TOTaL HIDICAL 11'1..1. 81.84 --------- ..,u.... 9. counsel was retained upon a 35' contingent fee basis by Petitioner. However, counsel has agreed to a 32' contingent fee basis, and has incurred the following expenses I Fee for Court Approval of Minor'S compromise ................$ 45.50 postage, copying, telephone police Report (1/3 portion) 10.00 ...... . ...... . 5.00 Total Expenses $ 60.50 .' . 10. Petitioner and counsel recommend approval of a Non-annuity initial settlement in the lump sum amount of Three Thousand, Three Hundred Dollars ($3,300.00) with a guaranteed payment amount of Ten Thousand, Eight Hundred Seventy Two Dollars and Eighty Seven Cente ($10,872.87) on April 1, 2005, negotiated with defendant's insurance company because they believe that it adequately represents a full and complete settlement of the instant claim against this defendant and is equal to or greater than that which may be obtained should the matter be litigated. See attached Exhibit "B". 11. Travelers has represented to counsel that the total cost of periodic payments is $6,700.00. See attached Exhibit "c". 12. Traveler's Life and Annuity company is rated "A" (Excellent) by A.M. Best, and its Standard and Poor's rating is "A+" (Strong). See attached Ey.hibit "0". 13. Petitioner approves the proposed settlement because she considers it fair and reasonable and that it adequately compensates the minor for the injuries sustained, and expenses incurred, and she further approves of the proposed distribution set forth in the Order attached hereto. WHEREFORE, Petitioner prays that an Order be entered approving the compromise allowing counsel fees and ordering distribution. CORCHrM, O~~, ROlaTO . MAUl., P.c. BYI I "') :.,' :~ j I, I I Ii. Lisa J. Mauer, Esquire Attorney"I. D. 65426 The Commons at Valley Forge suite Seven, P.O. Box 987-23 Valley Forge, Pennsylvania 19482 (610) 933-3333 Attorney for Plaintiff(s) . . . I I i COICBI., GL\BAK, IOIATO . MAUl., III LIlA J. MAUl., IlgUI.. Attorney 1.0. 65426 The commone at Valley Forge suite Seven, P.O. Box 987-23 Valley Forge, Penneylvania 19482 (610) 933-3333 P.C. Attorney for Plaintiff(s) CANDICE STARUH, a minor, by LOIS STARUH, her parent and natural guardian, COURT OF COMMON PLEAS CUMBERLAND COUNTY Plaintiffs vs. NO. WASHINGTON COLLEGE Defendant In ReI CANDICE STARUH, A MINOR AWWIDAYIT OW GUARDIAM I, Loie staruh, certify thatl 1. I am the sole surviving parent and natural guardian of Candice staruh; 2. candice staruh is in good physical condition, requiring no illllllediate care and treatment for the injuries sustained in the incident which is the subject matter of this action; and 3. I approve the proposed settlement of an initial lump sum ~ payment of $3,300.00 and a eecond lump sum payment of $10,872.87 on ~ April 1, 2005 and the distribution thereof. II I df.~~ ! Sworn to and Subscribed befof~ J!! t)1is oJ~ day of~l~ I 1995. ; ~ (.' &~~r, N ary P~iC t? r-.I ' L /. ,-..", J .. . ..... A "1'''''-11% IIlIIln.'Il Ill" "pu't> (i) " I;)rhlbll 8 .., '"'1.11..... ...trllll" 11>" 11I1"1111 (!,) " SETTLEMENT AGREEMENT AND ASSIGNMENT PARENT and NATURAL GUARDIAN Lois Staruh, as parent and legal guardians of Candice staruh, a minor (CLAIMI.NTS) Washington College ( TNSURED) TRAVELERS INDEMNITY COMPANY ( INSURER) LUMP SUM PAYMENT ACKNOWLEDGMENT (IF ANY) The CLAIMANT(S), being of lawful age, does/do hereby acknowledge receipt of the following $3300.00 lump sum cash payments ~e a part of the settlement and assignment. The present day value of th~ settlement is $10,000.00 AGREEMENT TO HAKE PERIODIC PAYMENT(S) Tha INSURER, on behalf of it's INSURED, ageees to make periodic payments to Candice Staruh as folloWSl 1. $10,872.87 guaranteed lump sum on April 1, 2005. The above payments constitute damages on account of personal injury or dckness relative to section 104 (a) (2) of the Internal Revenue Code of 1111I as a.ended. LIMITATIONS OF CLAIMANT(S) RIGHTS TO PAYMENTS WITHIN THE MEANING OF IRS RULING 79-220 The CLAIMANT(S) shall be a general c~editor(s) of the INSURER and shall have no rights of control over the ~eriodjc payments. The CLAIMANT(S) shall not be able to ACCELERATE, DEFER, INCREASE OR DECREASE the periodic payments and shall not have the power to sell, mortgage, anticipate or encumber these payments, or any part thereof, by assignment or otherwise. No part of the above periodic payments or any assets of the INSURER are to be subject to execution or any legal process for any obligation of the CLAIMANT ( S) . QUALIFIED ASSIGNMENT A. DEFENDANT'S RIUHT TO MAKE A QUALIFIED ASSIGNMENT The CLAIMANT(s) hereby acknowledge(s) and agree(s) that the Insurer may make a "qualified assignment" within the meaning of section 130 (c), of the Internal Revenue C01e of 1986, as amendtld, (the "code") of the Insurer's liability to make the periodic payments ~s described above to The Travelers Insurance Company(the "Assignee";. Any such assignment, if made, shall be accepted by the CLAtHANT(S) without right of rejection. " B. DISCHARGE OF IllSURER'S OBLrG,a.TION TO HAKE PERIODIC PAYMENTS CLAIMANT(.) understand(s) and agree(s) that if the INSURER assigns the Obligation to make periodic payments, then the INSURER will be released from all further Obligations to the CLAIMANT(S) with respect to the p.riodic payment obligation. The CLAIHANT(S) may not look to the INSURER for payment if there is a failure by the Assignee or other party to make the periodic payments to the CLAIMANT(S) for any reason whatsoever. The CLAIMANT(S) acknowledge(s) th~t, in the event of such an assignment, the A.signe. shall be the sole obligor with respect to the periodic payment obligation assigned, and the INSURER is hereby discharged from any liability to the CLAIMANT(S) to make any of the payments. C. ASSIGNEE'S OBI.IGATIONS TO CT..AIMAN'f(S) AFTER QUALIFIED ASSIGNMENT The CLAIMANT(S) does hereby acknowledge(s) and agree(s) with the b.low subparagraphs I, II, and 1111 I. p.riodic payments cannot be accelerated, deferred, increased or d.cr.a..d by the CLAIMANT(S) or any other payee. II. The As.ignee does not provide to the CLAIMANT(S) rights again.t the Assignee that are greater than those of a gen.ral creditor. III. Th. A..ignee's obligation for payment of the periodic payment. is no greatar than the obligations of the Assignor as of the date of the Qualified Assignment. INSURER'S RIGHT TO PURCHASE AN ANNUITY WITHIN THE MEANING OF IRS RULING 79-220 The INSURER or Assignee, if assigned, reserves the right to fund the liability to make p&liodic payments as described, by purchasing an annuity from Travelers Life and Annulty company (Annuity Issuer). The INSURER or A..ignee~ if assigned, shall be the owner of the annuity contract and shall have All rights of ownerst.ip. Page 2 of 2 , . BENEFICIARY DESIGNATION(S) Lois Staruh, Mother Candice Staruh, upon reaching the age of majority, may request to change hi. beneficiary at any time in writing in a form acceptable to the INSURER or Assignee, it assigned. If no designee(s) is/are listed or the de.ignee(s) is/are not living at the time of claimant(s) death, then the remaining payments will be made to the estate. Unless other.wise indicated when two or more beneficiaries are designated, payment will be made in equal shares to them or to their survivor(s). RELEASE AND DISCHARGE The CLAIMANT(S) does/do hereby release, acquit, discharge and does/dO promi.e to hold harmless the insured(s), and any other person associated or affiliated with them, from any and all actions, causes of actions, Claims, demandu, costs, loss, loss of services, expenses and compensation on account of, or in anyway growing out of, and any way and all known ~nd unknown personal injuries and property damage which the particular incident or accident which may have occurred on or about January 15, 1994 at or near W. High street near Pitt Street, CarliSle, Pa. It is agreed that this .ettlement is the compromise of a doubtful and disputed claim, and that the.e payments are not to be construed a. an admis.ion of liability on ~he part of th. INSURED(S), by whom liability is expressly d~nied. The CLAIKANT(s) has/have carefully read and understand(s) the content. of this .ettlement aqreement and release and voluntarily accept(s) its terms. Loi. Staruh Parent and Natural Guardian of Cnadice staruh, A Minor Approved in form and content: Travelers Indemnity Company BYI Titlel Li.a J. Mauer, Esquire Attorney for the Claimants Attorney for Claimants Signed and Sealed this day of , 1994 .' .." "1'1' ,1_... .. .:, '~;'. (.~'\ """.IL' :; Exhibit C " 1,1 \1"I',I'~. .",UI'~" Ill" """Ill, (.,V exhibit 0 . ':~ :~l:: FF:".. .'dT -Iq PA'jE , .:'C~ .' TheTraveler~ rlMftClII kr<i... o.plrtIMnt Th. r'lvfl!eT1 CCJ1'\panltl en. T~.' S<l~.,. Hell'c,d, cr ~'63 May, 1995 THE TRAVELERS STRUcruRED SETfLEMENT ANNUITY For over 130 Ye:lI'S, The Travelers has stood for financial strength and in1canty. The creation of Travclcn Group . through tho merier of Primerica Corporation and The Travelen Corporation on D~er 31,1993. meJns that Trave1er1' famous red ambrena will cover a broader range of 1In1lDclaJ products and seMCC$ thm ever beofore, serving a broader ranlO of custDmc:ra than ever before. Wilh over S I 00 bnUon in assell, the "new" Travolmls one of the world's larg~tlinanclsl services companies, focusing on Investment services, conSUlllCf finsnco and Insurance, The Travelm Lifo and Annuity Company, one of tho Tra""len Group ~anles, Is a leading provider of &ttUctured seuJcment annuilillS, Slnictured settlements havo been a favo~ medlOd for resolving pmonallnJury tortllaMity dIsputes sil1\:C the lato lCVentles, Tho company cuaently manaees more than 17,000 structured settlement annui1les and over $752 million ofstnlctured settlement ISSeIS, Our experienced, dedicated stafT Is committed to desianlna and adminlslcting settlements which unIquely pnn;de for the specific netds of accldenl victims and their famlIi\!S. THE TRAVELERS LIFE AND ANNUITY COMPANY SEPARATE ACCOUNT Settlement annuities arc Issued by The Travelers Life and Annuity Company (TLAq, a wholly owned subsidIary of Tho Travelers Insuranco Compmy. In luno of 1991, a separate '~unl was cstabUshN within the company to support ellisting and new settlement QMulty contracts, Tho separate account olTers signlficanl protection to contract holders as well as 10 recipients ofstnlctured settlement payments. The sep'rlle account WIt established In accordance with Connecticut Genml Statute Section 38&-433, and Its plan of opmtions has "'-'Cn approved by the Departmenl of Insurance ofthe~tue of ConnecticuL The separate account has spcdJic assets allocated to II 10 malch tho Il&bnldes of the settlement annuiry contracts. It offers unparaDeled pmlection to both settlement annuity contract O\\lletl and recipients of s1nIctured senlement benefits In Ihatlt Is completely insuJalN from the general Habnities or crcdltol1 ofTIAC, .~ ..'L ~ ':'': ; : I IS F F '; t1 . . ... -..: ... ..'. On December J 7, 1991, the ColIllIlissioner of lhe Slate of Connecticut Insurance Department Issued a Declrualory Ruling rcgardlna separnle accounts, The RuJln8 provides lhatlhe assets In the separate account shaU not be chargeable with liabilities arislnll out of any other business of the Insurer. Additionally, the IUllna states that even in the event of TI.ACs liquidation or charter rejlW, the separate account funds and any accumulation. thereon would not be subJOCC to the claItm of the company'. other creditol1 or pollcyholdcn, The separate accounllSSttS would be avanablc exclusively, to rhe extent Rquiml, 10 satisfy claims of die holden of the senlement lIlIluity contracts. The Commissioner's ruling was made law on October I, 1m by the ConnectlcuI Stale Lqislature In Senate BnI No, 132,. The perl'OltlllUlCC of the wets In the separate accounlls monitored monthly. As part oflfte perfonnance monltorina procC5$, ru.C will transfer additional asscts Into the aeplBlc atwunl from lIS aenoral accounlto ensure thalthe esgregate Dlllief value II sufficient to 6\lpport corresponding liabilities. This "marking to market" valuation mclhod gulll'lllteol thaI the paymenl obllaations of TLAC to SlnltlW'ed senlemenl ta:ipients arc al all times completely backed by adequate, legrqjated, In.suJated usets, SEPARATE ACCOUNT ASSETS IN REVIEW Th.l1nic\urcd seltlemenlseparate lCCCunl pant 0110 lotals 57.52 mfl1Jon II of Pebnwy 28, 199.5. S1dIled professionals select and l1l3lIl1je these assets, employinllD 1SSe(/\labf1lty IDatchln. stralcRY In which the amounl and timlnll of cash inflows from lSSets II't closely malched 10 our slruclllrcd senlement payment obligations. The seplBle accounl consists of a balance of hlah quality asscts, priman1y Investln. In filted-lDlIturity Investments, The company wm mainrnln at least 10% of!bo nwbt valu. or the assCCl held In tho separate account in fixed.income obligatioDs, short-tenn debt IJId cub (and cash equivalents). F1xttl-lIIl1turit'l l/lVutmlllltJ, The Illiest slnile ~cgol)' of the separato account InvCSlmenls Is fixed-maturity securities, IolaUlDg $71.5 ,2 mHlion - 95 percent of Invested assets, Of ftxed.maturity sccuritia, 98 pertenlare Investment &T1de, Publicly Issued bonds, ac(;ountina for aboul 71 percent of the bond Invcstmenls, are highly dlvenlfled by Industry and Issuer, and Include U,S, Treasury securities and a wide varlety of rorporato Issues. Private placements - fixed-Income Joans made directly by the separate account to I variety of companies -lotal SI'6,4 mUffoD. Such Invcslmen13lyplcany Include protC(;tlve clauses and have delivered strong perfolTl1ance over lime, ' F ~'lE ,eOJ .~ ~. ~~ ... ~ .J .,., '-J f..........' \\1} \'f\ -.:::::r-'~ - ~ __t-= .,' . ,........ l~ ~ ~ , ~ I:.) , ~ ......... "" ..... - I N ~, ~ ,- Ll ~, \~.r~ i._ I --- .