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: Structured Settlements 4Real

New York Court Rejects J.G. Wentworth 21.42% Effective Discount Rate!

By John Darer

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Judge Starkey Kudos to Kings County Supreme Court judge James G. Starkey who put the kibosh on an attempt by J.G. Wentworth company, 321 Henderson, to get away with charging a 21.42% effective discount rate to Gladys Lugo. Lugo, 21,  has been receiving structured settlement payments from American International Life Assurance Company of New York since February 2007.

Peter Vodola of Pullman & Comley has done a nice analysis of the June 12, 2009 decision In the Matter of the Petition of 321 Henderson Receivables Origination, LLC v. Gladys Lugo  (N.Y. Supreme Ct. Kings Index 3073/2009) on the Secondary Market Law Blog

Full post as published by Structured Settlements 4Real on June 21, 2009 (boomark / email).

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