17 CUBS LLC vs. NEW YORK LIFE INSURANCE COMPANY

Petitioner, 17-Cubs, LLC is a Florida Limited Liability Company.

a” qi (the "Payee") is a statutory interested party in the present

matter. Petitioner is informed and believes and upon that basis alleges that Payee is a

resident of Bay County, Florida and is 62 years old. Payee has the following

dependents: None.

New York Life Insurance and Annuity Corporation (the "Obligor"), is a

statutory interested party as it is the Structured Settlement Obligor, as defined by

Fla.Stat. § 626.99296(2)(i)(4).

New York Life Insurance Company (the "Annuity Issuer"), is a statutory

interested party as it is the Annuity Issuer, as defined by Fla.Stat. § 626.99296(2)(i)(3)17-Cubs, LLC vs. New York Life Insurance Company

Petition for Approval for Transfer of Structured Settlement Payment Rights

Case No.

Page2

This Court has subject matter jurisdiction over the instant action pursuant

to Fla.Stat. § 626.99296(2)(p) as either (1) the payee is domiciled in this state; (2) the

structured settlement agreement was approved by a court of this state; or (3) the settled

claim was pending before the courts of this state when the parties entered into the

structured settlement at issue in the present matter.

Payee entered into an agreement for the settlement of a claim for

damages arising in connection with a personal injury claim;

Petitioner is informed and believes and upon that basis alleges that the

underlying structured settlement that established the annuity at issue in the present

case contained language that restricted and/or prohibited the right and/or power to

assign the Assigned Payments in question;

The settlement agreed to by the Transferor provides for certain lump sum

and/or periodic structured payments, including but not limited to the payments that are

the subject of this Petition;

Payee has agreed to sell, and Transferee, 17-Cubs, LLC, has agreed to

purchase, certain lump sum and/or periodic structured payments, as referenced within

their proposed Transfer Agreement. A true and correct copy of the proposed Transfer

Agreement is attached hereto as Exhibit "A" and incorporated herein by this reference;

17-Cubs, LLC, shall, upon this Court entering an Order approving the

Transfer Agreement, assign all its right, title and interest in and to the said proposed

Transfer Agreement to its assignee, to be designated at the time of the hearing on the

present matter.

Pursuant to Fla.Stat. § 626.99296(3)(a)(1) and 26 U.S.C. §

5891(a)(2)(A)(1), Petitioner alleges that the transfer does not contravene any Federal or

State statute or other applicable law or the order of any court or responsible

administrative authority.17-Cubs, LLC vs. New York Life Insurance Company

Petition for Approval for Transfer of Structured Settlement Payment Rights

Case No.

Page 3

Pursuant to Fla.Stat. § 626.99296(3)(a)(2), at least 10 days before the

date on which the payee first incurred an obligation with respect to the transfer, the

transferee (or its predecessor) provided to the payee a disclosure statement in bold

type, no smaller than 14 points in size which complied with Fla.Stat. §

626.99296(3)(a)(2). A true and correct copy of said Disclosure Statement is attached

hereto as Exhibit "B" and incorporated herein by this reference.

Pursuant to Fla.Stat. § 626.99296(3)(a)(3) and 26 U.S.C. §

5891(b)(2)(A)(2), Petitioner alleges that the payee has established that the transfer is in

the best interests of the payee, taking into account the welfare and support of the

payee's dependents.

Pursuant to Fla.Stat. § 626.99296(3)(a)(4), Petitioner alleges that the

Payee has received, or waived in writing his or her right to receive independent

professional advice regarding the legal, tax, and financial implications of the transfer.

Pursuant to Fla.Stat. § 626.99296(3)(a)(5), Petitioner alleges that the

transfer agreement provides that if the payee is domiciled in this state, any disputes

between the parties will be governed in accordance with the laws of this state and that

the domicile state of the payee is the proper venue to bring any cause of action arising

out of a breach of the agreement. See Exhibit "A" attached hereto and incorporated

herein by this reference.

Pursuant to Fla.Stat. § 626.99296(3)(a)(6), Petitioner alleges that the net

amount payable to the payee is fair, just, and reasonable under the circumstances then

existing.

Pursuant to Fla.Stat. § 626.99296(4) the following documents and notices

are attached hereto and shall be served along with a copy of this Petition and Notice of

Hearing:

A. A copy of the transferee's application to the court (this Petition);

B. A copy of the transfer agreement (Exhibit "A" attached hereto);17-Cubs, LLC vs. New York Life Insurance Company

Petition for Approval for Transfer of Structured Settlement Payment Rights

Case No.

Page 4

Cc. A copy of the disclosure statement required under subsection Fla.Stat. §

626.99296(3) (Exhibit "B" attached hereto);

D. Notification that an interested party may support, oppose, or otherwise

respond to the transferee's application, in person or by counsel, by

submitting written comments to the court or by participating in the hearing

(see Notice of Hearing to be filed subsequently hereto).

E. Notification of the time and place of the hearing and notification of the

manner in which and the time by which any written response to the

application must be filed in order to be considered by the court. A written

response to an application must be filed no later than 5 days before the

date of the scheduled hearing in order to be considered by the court (see

Notice of Hearing to be filed subsequently hereto).

| Payee has completed the following transfers to the transferee or an

affiliate, or through the transferee or an affiliate to an assignee, within the 4

years preceding the date of the transfer agreement:

e None

| Payee has completed the following transfers within the 3 years preceding

the date of the transfer agreement made by the payee to any person or entity other

than the transferee or an affiliate, or an assignee of a transferee or an affiliate, to the

extent such transfers were disclosed to the transferee by the payee in writing or are

otherwise actually known by the transferee:

« None

Payee has attempted the following proposed transfers to the transferee or

an affiliate, or through the transferee or an affiliate to an assignee, for which an

application was denied within the 2 years preceding the date of the transfer agreement:

e None

Payee has attempted the following proposed transfers to any person or17-Cubs, LLC vs. New York Life Insurance Company

Petition for Approval for Transfer of Structured Settlement Payment Rights

Case No.

Page 5

entity other than the transferee, or an assignee of a transferee or an affiliate, to the

extent such proposed transfers were disclosed to the transferee by the payee in writing

or are otherwise actually known by the transferee, for which applications were denied

within the year preceding the date of the transfer agreement:

« None

It is submitted to this Court that this Petition and the Notice of Petition filed

subsequently hereto satisfies Florida Statutes § 626.99296(4).

WHEREFORE, Petitioner respectfully requests that upon fulfillment of all

disclosures and notices set forth under Florida Statutes § 626.99296(4), this Court enter

an Order approving the Transfer Agreement attached hereto as Exhibit "A" by and

between Payee and 17-Cubs, LLC, Transferee.

DATED: July 27, 2021

Respectfully Submitted,

/al Chritlopber R. Mibjon

Original Signature Maintained at Office of Attorney of

Record

Christopher R. Milton, Esq.

2626 Foothill Blvd., Ste. 200

La Crescenta, CA 91214

Tel: (800) 449-6311

Fax: (800) 922-6312

Florida Bar No.: 0692158

Attorney for PetitionerExhibit AAgreement to Transfer Structured Settlement Payment Rights

This Agreement signed this 24 day of July, 2021:

BETWEEN

G

An individual residing in the State of Florida

(Seller referred to as "You", "Your" and similar words)

-and-

17-Cubs, LLC

A Florida Limited Liability Company

(Buyer referred to as "We", "Us" and similar words)

The parties agree to the following:

Definitions: As used in this Agreement the following terms have the meanings set out below.

a.

"Adverse Claims" means any liens on, judgements against, or claims against you or the

Annuity.

“Agreement” means this Agreement to Transfer Structured Settlement Payment Rights

and attached schedules which form a part of this Agreement

"Annuity" has the meaning contained in the Terms Rider attached as Schedule "A".

"Annuity Issuer" means the insurance company making the Assigned Payments to you.

"Annuity Obligor" means the company or other person that is legally obligated to pay

the claim that gave rise to the underlying settlement obligation in the present matter. This

may or may not be the owner of the annuity policy at question.

“Assigned Payments” means the Annuity payments to be sold, assigned and transferred

according to this Agreement and set out in the Terms Rider.

"Adverse Claim" has the meaning set out in paragraph 3b.

"Closing" has the meaning set out in paragraph 2c.

"Collateral" means the Assigned Payments and the related rights.

“Court Order" means a final, non-appealable court order issued by a court of competent

jurisdiction.

"Disclosure Statement" means a statement required by law that contains important

information about this transaction.

"Documents" means all documents and information related to the Annuity and Assigned

Payments includes those documents set out in paragraph 2e.

. "Purchase Price" means the price set out in the Terms Rider attached as Schedule "A".

"Terms Rider” means the document attached as Schedule "A""UCC" means the Uniform Commercial Code in effect in the state where you reside

unless by reason of mandatory provisions of law any or all of the attachment, perfection

or priority of our security interest in a jurisdiction other than the State where your reside,

in which case the UCC in such other jurisdictions shall apply.

Annuity Purchase and Sale

a.

°

Agreement to Sell, You agree to sell, assign and transfer to us and our successors and

assigns, all of your right, title and interest in the Assigned Payments and related rights

arising out of a Structured Settlement Annuity as set out in the Terms Rider attached as