Litigation

On November 6, 2007 this author made a formal request of the NSSTA Board to reconsider Patrick Hindert's membership in light of Article 1 of the NSSTA bylaws. The NSSTA Board did not act on the request.

Article I Bylaws 1. Membership Qualifications. Membership in the Association shall be available (subject to the other provisions of these Bylaws) to any business organization or individual that (a) is engaged in activities that advance the Association?s mission, as set forth in Article I, Section 3; and (b) is not engaged, directly or through any related party, in other activities that are incompatible with such mission.

In light of recent events it is time to alert the full NSSTA membership many of whom are readers of this blog.

This is a formal SECOND request to the Board of the National Structured Settlement Trade Association (NSSTA) to terminate Patrick Hindert's membership. I encourage any NSSTA members to write to me or to the NSSTA Board in support of this effort and to express your opinion.

• For a long time it has been clear that Pedantic Pat's interests are clearly not in line with the mission statement of NSSTA.
• Unless NSSTA has a means to enforce its bylaws, should we assume "it's all for show"?
• Despite Hindert's efforts to undermine NSSTA, its members are required to purchase Hindert's text book "Structured Settlements and Periodic Payments" for the CSSC designation course. It's high time that his text book be banished and a suitable replacement found individually or through a combination of other texts.
• Hindert's reporting on AIG has been irresponsible and appears to be geared towards steering readers to his "cash now pusher" buddies.
• Hindert was a general agent with Benefit Designs, Inc. at the time of the Executive Life debacle and instead of sharing with readers what should be wealth of experience from that event, he is taking the low road.
• Hindert irresponsibly started and fomented the spread of the fiction throughout the structured settlement industry that "IRC 5891 made factoring legal".
• Hindert should not have been permitted to serve on NSSTA's legal committee once his commitment to the factoring industry and JG Wentworth in particular became known.