Case Number: BS149293    Hearing Date: September 04, 2014    Dept: 46

Case Number: BS149293
IN RE DRB CAPITAL LLC AND YVETTE BOLDEN
Filing Date: 06/19/2014
Case Type: Civil Petition – Other (General Jurisdiction)

09/04/2014 Hearing on Petition
(for APPROVAL OF TRANSFER PAYMENT)

This tentative ruling is posted at 12:55 p.m. on 8-29-2014 and the matter is set for hearing on 9-2-2014 at 8:30 a.m.

If there are no parties other than Plaintiff/Petitioner, then Plaintiff/Petitioner may submit to the tentative without appearance by telephonic notification to the clerk of Dept. 46 between 8:00 a.m. and 4:30 p.m. on a date prior to the hearing or morning prior to the hearing by calling (213) 974-5665, and the court will issue the tentative ruling as the final ruling. If the other parties have appeared in the action, then the parties must first confer and all agree that the tentative ruling will be the final ruling on the matter. If the parties to the matter before the court all agree, a representative of the parties may call the clerk and submit without an appearance, and the court will issue the tentative ruling as the final ruling. If an order is required, it should be lodged directly in Dept. 46 with a copy to adverse/other parties, if any.

TENTATIVE RULING: Petition is GRANTED. Petitioner to provide order for court to sign consistent with the following.

On 6/19/14, Petitioner DRB Capital, LLC (hereinafter, “petitioner”) filed this instant petition. On 8/14/14, petitioner filed its “Notice of Hearing;” it had been served, via FedEx, on 8/13/14 on Yvette Bolden (hereinafter, “Bolden”); the Structured Settlement Coordinator, Department of Justice, CA Attorney General’s Office; John Carey, Esq. (hereinafter, “Carey” (this was Borden’s counsel in the underlying case) and Michael P. McIlhinney, Esq. of Drinker Biddle & Reath, LLP, counsel for The Prudential Insurance Company of America (i.e., the “Payment Issuer”) and Prudential Assigned Settlement Services Corporation (i.e., the “Payment Obligor.”)

In/about 2005, Bolden became entitled to the following periodic payments: $735.64/month for 15 years guaranteed, first payment paid on 10/1/13 and last payment paid on 9/1/28.

Petitioner is now seeking court approval of Bolden’s decision to sell 112 monthly payments of $735.64 commencing on/about 6/1/19 and ending on/about 9/1/28 in exchange for $21,392.26.

The petition is GRANTED pursuant to Insurance Code § 10139.5 on the following findings:

1. The interest rate here is 15.97% per annum.
2. Bolden is 27 years old and married, with no dependents.
3. Bolden is not obligated under any court ordered or child support obligations.
4. Bolden has an income of $700.00/month in social security and $187.00/month from her annuity K.
5. Her spouse has a monthly income/sources of $0.
6. On/about 5/7/14, in LASC Case No. BS 147 370, Bolden assigned her annuity payments of $735.64/month commencing 6/1/14-5/1/19 in exchange for $27,600.78.
7. Bolden states that the underlying case was for medical malpractice, resulting from “complications” she experienced “due to bad aspirin.” The annuity payments were not intended to pay for medical care and/or living expenses. No future medical care of treatment is anticipated for the injuries she sustained that gave rise to the settlement.
8. Bolden attests that she will use the funds from this transaction to improve her current living situation by moving to a new apartment and to purchase furniture, to pay for the costs of repairs to her car, to upgrade her care insurance and obtain new state tags, to pay off legal fees and to help her son pay down his student loan debt.

Based upon the foregoing the request is granted.

IT IS SO ORDERED:

Frederick C. Shaller, Judge