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March 09, 2017

"Western Civilization?" | Settlement Broker Seeks Payback in Loss of Kosor-tium Claim

by Structured Settlement Watchdog

Despite entering and honoring 5 prior written co-brokerage agreements, structured settlement industry veteran Patrick C. Farber circumvented a written agreement to split commissions and cheated a fellow California structured settlement broker/settlement planner out of over $89,000 in fees, according to a legal complaint filed by Kosor & Associates in August 2016. [ Kosor & Associates  v Patrick C. Farber, an individual, Atlas Settlement Group, inc. Atlas Settlement Group Pacific Inc. et al Superior Court CA Orange County Case No. 30-2016-00870204-CU-BC-CJC]

On February 6, 2013 Kosor and Farber entered into the split agreement with reference to the law suit of Raul Acuna v DRI Company, agreeing to split commissions from structured settlement annuities or structured attorney fees placed  50%/50%.  Download Farber Kosor CSA 2-6-2013.

Despite the written agreement and that the parties had remained in communication during the interim from the execution date of the split agreement, a  large structure was placed in April 2016 and Farber claimed all the $178,000 commission . Kosor's  8 count complaint included the typical counts of a breach of contract claim.  Farber responded with a "everything but the kitchen sink defense" and filed a cross-claim against Kosor alleging that Kosor misrepresented his involvement in the case and pushed for among other things punitive damages.  Shortly after Kosor challenged Farber to provide evidence to support his cross-complaint, and following a hearing on December 5, 2016, Farber withdrew his cross complaint with prejudice. It was less than 3 months after Farber filed his cross complaint. Hmm.

There are indications that settlement offers are now being made by Farber.

Is Farber now going to "Blame It On The Boogie"?

 

Posted at 10:23 AM in Co-Brokerage Agreements, Los Angeles CA Structured Settlements, Orange County Structured Settlements, San Francisco Structured Settlements, Santa Ana Structured Settlements, Santa Monica Structured Settlements, Structured Settlement Broker Business Practices, Structured Settlement Industry News, Structured Settlement Watchdog®, Structured Settlements in California |

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  • Rated Ages and Structured Settlement Cost
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    Which life insurance companies issue structured settlement annuities in 2025? A list of current structured annuity issuers, the location of their home offices and their financial ratings from A.M. Best, Moodys, Fitch, Standard & Poors and/or other Tier1 NAIC ratings, with links to their websites and other useful information. Last updated November 3, 2024
  • Treasury Funded Structured Settlements
    Treasury Funded Structured Settlements are a settlement option for the most conservative using the OTHER permissible qualified funding asset under IRC 130(d), United States Treasury Bonds in addition to, or instead of, structured settlement annuities. Treasury Funded Structured Settlements can also be used to fund installment sales, also known as structured sales and other non qualified structured settlements.
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  • Structured Settlement Payments | Types of Structured Settlements 2025
    In 2025, you can structure your settlement payments in various ways. A structured settlement allows for multiple payment types within one agreement. You can tailor and merge different structured settlement payments to suit your individual needs, either alone or alongside other financial instruments. If desired, diversify your structured settlement by utilizing multiple annuity issuers, treasury-funded structured settlements, index-linked structured settlement payments, and market-based structured options.
  • Structured Attorney Fees for Tax Deferral for Attorney Contingency Fees
    Structured attorney fees offer a financial strategy that provides a unique method for deferring taxes for attorneys and their firms. Attorneys can structure or defer their legal fees independently of whether the plaintiff structures their settlement. There are various ways to structure attorney fees, including capped or uncapped index-linked structured settlement annuities with payments adjusted according to the S&P 500 or another index's positive changes. Trial lawyers might also opt for a special deferred payment/compensation arrangement if they seek market-based returns without a cap. As the year-end approaches, consider adding structured attorney fee specialist John Darer® to your settlement planning team for 2025.
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  • What Are Structured Settlement Annuities?
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  • History of Structured Settlements
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Qualified Settlement Funds

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