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Tag: “Kentucky SSPA” “Kentucky structured settlement”

Kentucky Structured Settlement Protection Act Applies To Tort Settlements, Not Workers’ Compensation Settlements, Says Court

Kentucky Structured Settlement Protection Act Applies To Tort Settlements, Not Workers’ Compensation Settlements, Says Court

The Kentucky Supreme Court has rejected an attempt to transfer the rights to future workers’ compensation settlement payments. American Gen. Life Ins. Co. v. DRB Capital, LLC, 2017-SC-000329-DG, 2018 Ky. LEXIS 535 (Ky. Dec. 13, 2018), is the citation for the Kentucky highest court’s opinion in which it held that the Kentucky Structured Settlement Protection Act did not apply to workers’ compensation settlement payments, and therefore the trial court did not have authority to approve a transfer of such payments…

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Kentucky Supreme Court Joins Other State Appeals Courts In Enforcing Contractual Anti-Assignment Provisions In Structured Settlements

Kentucky Supreme Court Joins Other State Appeals Courts In Enforcing Contractual Anti-Assignment Provisions In Structured Settlements

As discussed here, the Kentucky Supreme Court recently held that that state’s structured settlement protection act does not apply to workers’ compensation settlements. In reversing an opinion of an intermediate appellate court, the Kentucky Supreme Court in American Gen. Life Ins. Co. v. DRB Capital, LLC, 2017-SC-000329-DG, 2018 Ky. LEXIS 535 (Ky. Dec. 13, 2018), also extensively discussed anti-assignment provisions in structured settlements.  In concluding that the anti-assignment clauses in the structured settlement agreement, qualified assignment agreement, and annuity contract were…

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Kentucky Supreme Court Rejects Factoring Of Workers’ Compensation Settlement Payments

Kentucky Supreme Court Rejects Factoring Of Workers’ Compensation Settlement Payments

The Kentucky Supreme Court has reversed a lower appeals court decision involving the Kentucky Structured Settlement Protection Act, and rejected an attempt by a factoring company to effectuate a transfer of workers’ compensation settlement. In American Gen. Life Ins. Co. v. DRB Capital, LLC, 2017-SC-000329-DG, 2018 Ky. LEXIS 535 (Ky. Dec. 13, 2018), Kentucky’s highest court held that the Kentucky Structured Settlement Protection Act did not apply to workers’ compensation settlement payments. The matter involved a proposed transfer of structured…

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Anomalous: One Way to Describe Kentucky Intermediate Appellate Court’s 2-1 Opinion in Structured Settlement Protection Act Case

Anomalous: One Way to Describe Kentucky Intermediate Appellate Court’s 2-1 Opinion in Structured Settlement Protection Act Case

  “Anomalous” is, according to the Dictionary.com, an adjective that has several meanings.  One “deviating from or inconsistent with the common order, form, or rule; irregular; abnormal.”  A second definition is “not fitting into a common or familiar type, classification, or pattern; unusual.”  And a third is “incongruous or inconsistent.” An opinion released by the Kentucky intermediate appellate court can be described as anomalous.  There are no other appellate opinions like it, and the those that address similar issues – even…

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Interest Rate Cap Is ‘Best Solution’ to Predatory Practices of Settlement Factoring Companies, Author Says in Huffington Post Commentary

Interest Rate Cap Is ‘Best Solution’ to Predatory Practices of Settlement Factoring Companies, Author Says in Huffington Post Commentary

The Washington Post’s series of stories on structured settlement factoring shows that the structured settlement factoring industry is not “under control” of legal regulations, and new laws – possibly including an interest rate cap – may be needed. That’s the conclusion of Don McNay, a writer and financial advisor with years of experience in the business of establishing structured settlements for injury victims. McNay, in “Stopping Structured Settlement Predators for Good This Time“, praised the Washington Post’s investigatory work, and described his experiences…

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