New York Structured Settlement Cases | Don't Forget the Stipulation of Discontinuance

by John Darer CLU ChFC MSSC CeFT RSP CLTC

Attention New York trial lawyers!

if your client has accepted a structured settlement one can usually speed the process up if the settlement agreement and release and qualified assignment(s) are sent directly to your structured settlement consultant who, if efficient, can provide assistance with the post settlement service and follow up function and liase with the defense counterpart

Don't Forget the "Stip of Disco"

If the defense counsel is busy, or on trial, it is possible that the transmittal of settlement documents to the insurance carrier (required to enable the payment or release of upfront cash) can otherwise be delayed. If you follow this procedure however, don't forget to send a copy of the settlement documents and the stipulation of discontinuance with prejudice directly to the defense attorney.

 

New York CPLR 5003-a specifically provides that a settling defendant “shall pay all sums due to any
settling plaintiff within twenty-one days of tender, by the settling plaintiff to the settling
defendant, of a duly executed release and a stipulation discontinuing action executed on
behalf of the settling plaintiff.”

 

 

As a prophylactic measure you may want to send a copy of the stipulation of discontinuance with predjudice along with the other settlement documents to your structured settlement consultant for follow up.