Matter of 321 Henderson Receivables LP v. Williams

In or about June, 1989, Joanne G. Williams ("Williams") entered into a settlement agreement relating to a personal injury claim which, apparently, arose from a work-related injury. The settlement agreement guaranteed lump sum payments consisting of $7,500.00 on June 1, 1992, $15,000.00 on.....

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In or about June, 1989, Joanne G. Williams (“Williams”) entered into a settlement agreement relating to a personal injury claim which, apparently, arose from a work-related injury. The settlement agreement guaranteed lump sum payments consisting of $7,500.00 on June 1, 1992, $15,000.00 on June 1, 1995, $100,000.00 on June 1, 2009, and $200,000.00 on June 1, 2014. Pursuant to a Uniform Qualified Assignment (“UQA”), the claim was assigned to Allstate Settlement Corporation (“Allstate Settlement”) which purchased a bond from Allstate Life Insurance Company (“Allstate Life”) to guarantee the performance of obligations under the UQA.

Williams applied to 321 Henderson Receivables Limited Partnership (“321″) to sell a portion of her structured settlement payments. On her application, she indicated that she was born on August 25, 1953 and, on the line marked “Current Occupation,” indicated that she is disabled. Williams stated that she was not married, and had two grown children, ages 29 and 24, who were named in her will to receive structured settlement payments in the event of her death. Williams indicated that her income consisted of social security, and the reason she wanted to enter into the transaction was “Many medical Bills-Ongoing Medical Problems. Insurance Only Pays 80 percent.”

Matter of 321 Henderson Receivables LP v. Williams

In or about June, 1989, Joanne G. Williams ("Williams") entered into a settlement agreement relating to a personal injury claim which, apparently, arose from a work-related injury. The settlement agreement guaranteed lump sum payments consisting of $7,500.00 on June 1, 1992, $15,000.00 on.....

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