by Structured Settlement Watchdog
Defendant Stephen Heretick, a structured settlement factoring company lawyer and elected official of the Virginia house of delegates is the sole objector to keeping the Dockery class action in the Eastern District of Pennsylvania.
The Dockery class action lawsuit, filed September 14, 2017, alleged Portsmouth Virginia Circuit Court judges were complicit in an "Annuity Fraud Enterprise" scheme, in which a Virginia lawyer and 79th District delegate Stephen E. Heretick was the central figure, representing JG Wentworth, Seneca One, 321 Henderson Receivables and other settlement purchasers, that allegedly violated the rights of thousands of structured settlement annuitants. See Del. Stephen Heretick and Portsmouth judges diverted millions owed to sick and injured people, lawsuit claims
According to the Complaint, Heretick hatched the scheme, which was designed entirely to defeat a regulatory scheme designed to protect structured settlement annuitants), and to enable sales of the income streams from SSAs on terms that:
a would never be accepted by a beneficiary of an SSA if the beneficiary had been advised by a well-informed and objective advisor; and
b. would never be approved after meaningful judicial review.
The scheme evaded the state and federal requirements, according to the Complaint, by creating what was, in name only, a judicial review process but which was, in reality, a rubber stamp for virtually every transaction brought before complicit judges by Defendant Heretick (numbering in the thousands!).
Now Heretick wants to move the proceedings to the Eastern District of Virginia, close to his Portsmouth base, a judicial circuit that saw 10 deals approved in 2 years for Terrence Taylor. The litigation in Taylor v Structured Asset Funding/ 123 Lump Sum has been pending for nearly 5 and one half years, in large part to due Heretick's making overly judicious use of legislative privilege. The lead plaintiff and all of the other defendants say no, so we'll see what the Court's decision is.
Update September 3, 2020
Plaintiffs and Defendants JG Wentworth and 321 Henderson requested assignment of a magistrate for purpose of exploring if a settlement can be achieved The court granted the request today as long as it wa sin good faith and not an excuse to delay. Defendant Steve Heretick did not appear to be part of the looming settlement discussions.