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SSPA Court: No Deal For ‘A Mere 35 Cents On The Dollar’

SSPA Court: No Deal For ‘A Mere 35 Cents On The Dollar’

As described in this post, a Minnesota trial court recently rejected a request for court approval of a transfer of structured settlement payment rights.  The court in Teasley v. Velardi, No. 27-CV-93-1473, 2011 WL 6149943 (Minn. Dist. Ct. Dec. 2, 2011), rejected a proposed transfer by payee Jeremiah Teasley to factoring company J.G. Wentworth Originations, L.L.C., for two reasons: the payee had not received independent professional advice, and the transfer was not in the payee's best interest. As is the typical…

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