ESTATE OF ABUBAKAR KOLYA, Deceased

ESTATE OF ABUBAKAR KOLYA, Deceased (11/2347/A) — The administrator, the decedent's father, seeks to judicially account for the remaining settlement proceeds of causes of action arising from the events leading to the decedent's death settled in the Supreme Court, Bronx County (McKEON, J.), which are being held in his attorney's escrow account. The supreme court order, inter alia, directed the payment of counsel fees, disbursements, and a Medicaid claim, as well as the payment of $350,000 from the settlement proceeds as a premium to purchase an annuity providing certain deferred benefits to the infant distributee. The supreme court order also directed that the terms of the proposed structure could be modified without the further order of that court if it was not purchased by a certain date. As the annuity has not yet been purchased, a new proposed structure is submitted in this application.

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ESTATE OF ABUBAKAR KOLYA, Deceased (11/2347/A) — The administrator, the decedent’s father, seeks to judicially account for the remaining settlement proceeds of causes of action arising from the events leading to the decedent’s death settled in the Supreme Court, Bronx County (McKEON, J.), which are being held in his attorney’s escrow account. The supreme court order, inter alia, directed the payment of counsel fees, disbursements, and a Medicaid claim, as well as the payment of $350,000 from the settlement proceeds as a premium to purchase an annuity providing certain deferred benefits to the infant distributee. The supreme court order also directed that the terms of the proposed structure could be modified without the further order of that court if it was not purchased by a certain date. As the annuity has not yet been purchased, a new proposed structure is submitted in this application.

The decedent died intestate on May 23, 2011 from alleged medical malpractice. The decedent’s distributees are a spouse and an infant son. The guardian ad litem appointed for the infant distributee recommends approval of the application including that her ward receive $350,000 from the net distributable proceeds as her share of the proceeds to be utilized to purchase the proposed annuity, especially because that sum of money exceeds the infant’s share as computed pursuant to the formula enunciated in Matter of Kaiser (198 Misc 582 [Sur Ct, Kings County 1950]). The guardian ad litem and the infant’s mother, the guardian of his property, also recommend the purchase of the revised annuity.

ESTATE OF ABUBAKAR KOLYA, Deceased

Share with Email

Thank you for sharing!

Trending Stories

More From ALM

Subscribe to New York Law Journal