Litigation

J. G. Wentworth In Big Ole Bucket of ' Kentucky Fried Butt Kickin' From Uncle Sam

By John Darer

Yet another attempt by a cash now pusher to circumvent structured settlements set up to benefit litigants against United States has come up empty.   

One cannot doubt that J.G. Wentworth is not a fan of the original "structure preserving good" recipe for structured settlements under the Federal Tort Claims Act, namely " that "the Annuity Contract provides no other right to any other party to designate to whom annuity payments maybe sent, other than the United States as Owner.

In the consent judgment in the matter was entered into in early June 2009 the parties (including J.G. Wentworth S.S.C. acknowledged that the attempt to sell periodic payment rights to J.G. Wentowrth "was in clear VIOLATION of the Settlement Agreement and Annuity Contract"

A copy of consent judgment in Transamerica Life Insurance Corporation v United States of America, et al. USDC Western KY, Louisville Case No. 3.08-cv-663-S can be downloaded by following this link Download Transamerica.Wentworth.USA.Consent.Judgment 6-2009

Due to extensive efforts of the United States Department of Justice, structured settlements offered as part of resolution cases under the Federal Tort Claims Act are the only annuity funded structured settlements that cannot be factored.

Full post as published by Structured Settlements 4Real on June 17, 2009 (boomark / email).