In the Circuit Court of the Sixth Judicial Circuit of the State of Florida, Peachtree Settlement Funding, LLC ("Applicant") has filed a case against Prudential Assigned Settlement Services Corp. and Prudential Insurance Company of America. The lawsuit is about approval for transfer of payment rights and is filed under case number 24-001482-CI on April 2, 2024.
The Applicant, represented by its counsel, seeks court approval for a proposed transfer of structured settlement payment rights from an individual (Payee) domiciled in Pinellas County, Florida. The Payee is entitled to receive certain structured settlement payments in connection with a structured settlement entered into by or on their behalf. Prudential Assigned Settlement Services Corp., as the Structured Settlement Obligor, agreed to pay the Periodic Payments to the Payee.
Prudential Insurance Company of America, as the Annuity Issuer, funded this obligation through an Annuity Contract. The Payee wishes to sell these periodic payments in exchange for a lump sum payment for bill settlements.
The Plaintiff is seeking judgment and damages in compliance with the Florida Structured Settlement Transfer Act. They require court authorization based on criteria prescribed by the Statute and issuance of a final order from a court of competent jurisdiction.