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Last Post 09 Jul 2008 10:49 AM by
lkoschney
R-07-0027 Application to Transfer Structured Settlement Payments Rights
5 Replies
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Ed
Posts:
20 Dec 2007 03:53 PM
R-07-0027
PETITION TO ADOPT RULE GOVERNING APPLICATION TO TRANSFER STRUCTURED SETTLEMENT PAYMENT RIGHTS, RULES OF CIVIL PROCEDURE
TO REQUIRE A PAYEE TO GIVE THE COURT COMPLETE INFORMATION REGARDING PRIOR TRANSFERS
Petitioner:
Edward O. Burke
Maricopa County Superior Court
125 W.Washington St. #101
Phoenix, AZ 85003
Filed December 20, 2007
Comment period closed as of May 20, 2008.
ADOPTED as modified, effective January 1, 2009.
Attachments
11220565444971.pdf
11220565446554.doc
acetom
Posts:
19 Feb 2008 11:55 AM
Hon. Mark Aceto
Presiding Civil Judge
Maricopa County Superior Court
125 W. Washington, Suite 309
Phoenix, AZ 85003
(602)506-5267
This comment is made in support of adoption of proposed rule No. R-07-0027.
A structured settlement is an arrangement for periodic payment of damages for personal injury. Such settlements are almost always funded by an annuity contract. Factoring companies often purchase the rights to future payments from payees. Historically, it was not uncommon for sophisticated factoring companies to take advantage of unsophisticated payees. A.R.S. § 12-2901, et seq., is designed to address such abuses. The statute charges superior court judges with responsibility for overseeing the fairness of proposed transfers of structured settlement payments. Among other things, the statutes require that judges determine whether such transfers are in the best interest of the payee. Because both sides seek approval of the proposed transfer, the court cannot rely on the adversary process to bring pertinent information to its attention.
The proposed new rule would mandate that significantly more information be provided to the Court by payees. The proposed rule was discussed by the Maricopa County Superior Court civil department at the department’s regular January meeting. Based on a conclusion that the rule would significantly enhance our ability to fulfill our statutory obligation, the judges at the meeting voted unanimously to urge adoption of the rule.
StateBarAZ
Posts:
01 Apr 2008 01:17 PM
Robert B. Van Wyck
Bar No. 007800
Chief Bar Counsel
State Bar of Arizona
4201 North 24th Street, Suite 200
Phoenix, AZ 85016-6288
(602) 252-4804
Attachments
141174673971.pdf
141174675454.DOC
lkoschney
Posts:
02 May 2008 05:18 PM
R-07-0027 Rules of Civil Procedure Application to Transfer Structured Settlement Payments Rights
Peter J. Cahill
#004134
President, Arizona Judges Association
1400 E. Ash St.
Globe, AZ 85501
(928) 402-8686
Attachments
152185170871.pdf
152185172354.doc
samcrump
Posts:
20 May 2008 06:27 PM
Samuel T. Crump
AZ Bar# 022400
Boates & Crump, PLLC
On Behalf of National Association of Settlement Purchasers
3701 W. Anthem Way, Ste. 202
Anthem, AZ 85086
T 623-551-5457
F 623-551-5458
E
[email protected]
Attachments
152027778971.pdf
1521421869571.doc
lkoschney
Posts:
09 Jul 2008 10:49 AM
R-07-0027 Application to Transfer Structured Settlement Payments Rights
Edward O. Burke
Bar No. 002480
Superior Court Judge
Maricopa County Superior Court
125 West Washington Street, Suite 101
Phoenix, AZ 85003
(602)506-6538
Attachments
179495216671.pdf
179495216654.doc
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