News & Analysis as of

Structured Settlements

Cozen O'Connor

Arkansas Court of Appeals: Longshore Harbor Workers’ Compensation Act Payments Not Assignable

Cozen O'Connor on

In a recent unanimous decision, a three-judge panel of the Arkansas Court of Appeals held that Section 916 of the Longshore and Harbor Workers’ Compensation Act (LHWCA) bars the transfer of LHWCA structured settlement annuity...more

Faegre Drinker Biddle & Reath LLP

The Granite State Solidifies Structured Settlement Protection Act

As of August 11, 2021, New Hampshire joined all 49 states and the District of Columbia, formally enacting its own Structured Settlement Protection Act (SSPA) when Governor Chris Sununu signed SB 134 into law. Broadly,...more

Womble Bond Dickinson

Post-Pandemic Impact on Life Expectancy

Womble Bond Dickinson on

Patients diagnosed with a terminal illness often ask, “How long do I have?” Whether you receive a life threatening diagnosis or not, as you grow older, you will probably make plans based on how long you expect to live....more

Cozen O'Connor

A Compelling Case for Judicial Education

Cozen O'Connor on

Two recent coordinated decisions from the Pennsylvania Superior Court quashing appeals brought by factoring companies and their investors highlight not only the intent behind structured settlement protection acts, but also...more

Faegre Drinker Biddle & Reath LLP

Structured Settlement Annuity Ownership Rights Upheld in California

In a meaningful victory for structured settlement annuity owners and issuers, the Southern District of California recently dismissed the claims of alleged “intended” beneficiary, Tera Vance, after having dismissed several...more

Cozen O'Connor

“Retread” Blowouts Create Hazards for Investors

Cozen O'Connor on

Recycled structured settlement payment streams have been the subject of much concern and scrutiny the past few years. These recycled payment streams are structured settlement annuity payments that were sold to a factoring...more

Blattel Communications

Understanding The Timeline: When Will A Lawsuit Be Covered By The Media?

In law school, the correct answer to in-class queries was frequently “it depends.” In law, often there is no black or white, right or wrong – it all depends on the facts and the analysis of the law. This dynamic also applies...more

Ballard Spahr LLP

CFPB files amicus brief in Maryland Court of Appeals seeking rejection of class action settlement

Ballard Spahr LLP on

The CFPB has filed an amicus brief in the Maryland Court of Appeals urging the court to affirm the decision of the Court of Special Appeals reversing the trial court’s approval of a settlement agreement in a class action...more

Proskauer - Minding Your Business

For The First Circuit, Transaction Costs in Structured Settlements are Not Fraud

Liability insurers charge premiums in exchange for an agreement to cover certain claims against their policyholders. When settling a tort claim against a policyholder, the insurance company can pay a lump-sum of cash or, in...more

Ballard Spahr LLP

CFPB withdraws CID issued to structured settlements purchaser, petition to enforce CID denied as moot

Ballard Spahr LLP on

The CFPB’s petition filed in a Pennsylvania federal district court last June to enforce a CID issued to J.G. Wentworth, LLC, a purchaser of structured settlements and annuities, was denied by the court last week as moot. The...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

Financial Industry Developments - CTFC Approves Re-Proposal of Position Limits Regulation - On December 5, 2016, the U.S. Commodity Futures Trading Commission ("CFTC") unanimously approved to re-propose rules that...more

Orrick, Herrington & Sutcliffe LLP

Supreme Court Hears Oral Argument in Jevic on Whether Distribution of Settlement Proceeds May Depart From Statutory Priority...

The United States Supreme Court heard oral arguments on December 7, 2016 in Czyzewski v. Jevic Holding Corp. The case poses a question that has divided the Second, Third, and Fifth Circuits: Whether a bankruptcy court may...more

Goodwin

CFPB Files Suit Against Structured Settlement Company for Allegedly Defrauding Lead Paint Victims

Goodwin on

On November 21, the Consumer Financial Protection Bureau (CFPB) announced that it filed suit in the U.S. District Court for the District of Maryland against a structured settlement company and certain of the company’s...more

Ballard Spahr LLP

CFPB files lawsuit against structured settlement purchaser

Ballard Spahr LLP on

The CFPB has filed a lawsuit in a Maryland federal district court against: (1) Access Funding, LLC (Access), a limited liability company that purchases structured settlements from consumers; (2) Access’ managing member...more

Ballard Spahr LLP

Chamber files amicus brief in support of challenge to CFPB jurisdiction

Ballard Spahr LLP on

The Chamber of Commerce of the United States of America (Chamber) has filed an amicus brief opposing the CFPB’s petition filed in the Eastern District of Pennsylvania to enforce its civil investigative demand (CID) issued to...more

Ballard Spahr LLP

CFPB takes another challenge to its jurisdiction to court

Ballard Spahr LLP on

The CFPB filed suit against J.G. Wentworth, LLC on June 7, 2016 after the company challenged the Bureau’s expansive view of its jurisdiction. The CFPB served a CID against J.G. Wentworth, LLC on September 11, 2015 to...more

McGuireWoods LLP

Structuring a Settlement After Asserting Class Members Did Not Suffer Any Concrete Injury

McGuireWoods LLP on

Frequently, a class action complaint will set forth an elaborate theory of why the defendant’s actions were negligent or wrongful, but fall short when trying to identify how that conduct has harmed the class members. This...more

Locke Lord LLP

CFPB’s Denial of Civil Investigative Demand Appeal Demonstrates Expansive Product Reach

Locke Lord LLP on

Last month, the Consumer Financial Protection Bureau’s (“CFPB”) Director denied J.G. Wentworth’s (“JGW”) petition to set aside or modify a CFPB civil investigative demand (“CID”) that required JGW to produce 14 documents,...more

Bradley Arant Boult Cummings LLP

CFPB Director Denies J.G. Wentworth’s Petition to Set Aside Civil Investigative Demand

Recipients of a Civil Investigative Demand (CID) from the Consumer Financial Protection Bureau (CFPB) have yet another reason to be wary of petitioning the Director to have the CID formally modified or set aside....more

Carlton Fields

Eighth Circuit Clarifies the Requirements for Cy Pres Distribution of Class Action Settlement Funds

Carlton Fields on

Due to what it called a “substantial history of district courts ignoring and resisting circuit court cy pres concerns and rulings in class action cases,” the Eighth Circuit recently clarified the legal principles surrounding...more

Tucker Arensberg, P.C.

Pennsylvania Commonwealth Court Holds Structured Settlement Annuity Is Transfer for Less Than Fair Market Value Under the Deficit...

Tucker Arensberg, P.C. on

The Pennsylvania Commonwealth Court’s recent decision in the matter of Sams v. Department of Public Welfare may significantly affect the structured settlement industry, and the settlement of lawsuits on behalf of certain...more

Gerald Nowotny - Law Office of Gerald R....

Law and Disorder: Rethinking Retirement Planning for Plaintiff's Lawyers - The Best of Qualified and Non-qualified Planning...

Overview - We have all heard our share of lawyer jokes. From War of the Roses - "What do you call a bunch of attorneys at the bottom of the ocean"? Answer - A good start! Everybody hates lawyers except their own and...more

Gerald Nowotny - Law Office of Gerald R....

Structured Settlement Planning for Trial Attorneys: The Benefits of Using Qualified Settlement Funds and Private Placement...

Overview - Trial attorneys are extremely vulnerable to a tax landscape that is becoming hostile territory. The result of the American Taxpayer Relief Act of 2013 (ATRA) is that earned income is taxed at substantially...more

Bennett Jones LLP

Class Action Settlement Take-up Significant for Fee Approvals - Lavier v MyTravel Canada Holdings Inc

Bennett Jones LLP on

On February 14, 2013, the Ontario Court of Appeal released its decision in Lavier v MyTravel Canada Holidays Inc, which deals with the approval of class counsel fees in a settled class proceeding. The decision provides some...more

Gerald Nowotny - Law Office of Gerald R....

Income Tax Reduction and Deferral Strategies for Trial Attorney Contingency Fee Income: Part 1—Structured Settlement Annuities...

Originally published in ABA Section of Taxation NewsQuarterly in the Summer of 2012. Overview - Structured settlement annuities (SSA) have been recognized by federal law since 1983. The original use of these...more

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