Another Reason To Reject Proposed Transaction: No Proof That Settlement Factoring Company Served Payee, Says Court
As described here, a New York court this year rejected an “unconscionable” proposed transfer of structured settlement payment rights as failing to meet either the “best interest” or “fair and reasonable” standard of the New York Structured Settlement Protection Act. Acting Supreme Court Justice John H. Rouse, in In the Matter of the Petition of J.G. Wentworth Originations, LLC (Sanders), Index No. 001145, Supreme Court, Suffolk County, N.Y. (N.Y. Sup. Ct. May 21, 2018), also said that the factoring company failed to…