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April 08, 2016

Anatomy of Structured Settlement Forum Shopping from New York To Florida Part One

by Structured Settlement Watchdog®

The New York Law personal injury law firm of Trollman Glaser & Lichtman did a fine job with its recovery for then 7 year old Nadya Verdesoto in 2003.  Nadya's structured settlement with Travelers provided for the following

Guaranteed lump sum payments

$75,000 on 11/11/2013

$75,000 on 11/11/2014

$75,000 on 11/11/2015

$75,000 on 11/11/2016

$597,871 on 11/17/2020/

The structure cost $350,000 and the guaranteed income tax free payout was scheduled to be $897,851   [ $547,851 in tax free income over structured cost!]

The settlement was approved by Judge Bertram Katz

Download Nadya Verdesoto Infant's Compromise Order from 2003 with structured settlement  Bronx NY

Forum shopping
Did Seneca One, LLC recommend a trip on the "South Florida Special"?  Did Seneca One pitch Nadya Verdesoto That The Deal Could Be Done in Florida after New York judges rejected 3 times?
Wouldn't be the first time that a NASP member tried to circumvent the New York Structured Settlement Protection Act

Now pay attention to the dates...

Sometime in early 2015, Nadya Verdesoto hooked up with Seneca One, the same Chevy Chase MD company and member of the National Association of Settlement Purchasers that completely hosed an Oklahoma MetLife annuitant for a spread in excess of $1 million  (details in a post from earlier this week)

On May 15, 2015 a petition to transfer structured settlement payments was submitted to the Bronx Supreme Court and it was denied.  A motion was made to reconsider and THAT was denied. Then a final denial of the petition on October 26, 2015.

According to Nadya Verdesoto's 's public and open Facebook profile, she stated school at Bronx school of law, government and justice on December 22, 2015.  Nadya's LinkedIn says 2009-2014

According to Nadya Verdesoto's  public and open Facebook profile, she started Monroe College November 4, 2015. Monroe College, a subset of the City University of New York (CUNY) has branches in the Bronx NY, Queens NY, New Rochelle, NY as well as the St. Lucia in the Caribbean, but not Tampa.

On December 11, 2016 Nadya Verdesoto was issued  a voter registration card in Tampa Florida.  Although not sure if she's voting for Hillary or Bernie, the card says he is registered with the Democratic party.  The voter registration bears a New York number with a 917 area code .

A White pages search shows that Nadya Verdesoto has an address in Tampa Florida since November 2015, conveniently just days after the 3rd denial by Bronx County Supreme Court.

On January 22, 2016,  a petition to transfer was submitted in Hillsborough County Florida Circuit Court by Seneca One attorneys Fox Rothschild

On February 3, 2016 an amended petition was filed

On February 23, 2016 the amended transfer petition was approved by the Hillsborough County judge.

Ms. Verdesoto, who lacks a self-effacing Twitter name, states she lives in Bronx New York on her Facebook profile

Did Seneca One, LLC recommend a trip on the "South Florida Special"?  Did Seneca One pitch Nadya Verdesoto that the structured settlement factoring deal could be done in Florida after New York judges rejected 3 times?

Wouldn't be the first time that a member of the National Association of Settlement Purchasers, tried to circumvent the New York Structured Settlement Protection Act.  Stay tuned for Part Two

 

 

 

Posted at 07:28 PM in Chevy Chase Structured Settlements, Factoring Company Bad Business Practices, Hillsborough County Structured Settlements, Seneca One Commentary, Structured Settlement Factoring Forum Shopping, Structured Settlement Factoring News, Structured Settlement Transfers, Structured Settlement Watchdog®, Structured Settlements in Miami Florida area, Sumter County Structured Settlements, Tampa Structured Settlements |

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Guide to Structured Settlements 2023

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    How structured settlements work, including 4structures.com LLC's super helpful structured settlement flow chart/diagram showing how structured settlements fit in on the spectrum of settlement planning solutions.
  • Rated Ages and Structured Settlement Cost
    Rated Ages for Structured Settlement Annuities present advantages to all parties. Shift the mortality risk to a life insurance company whose business it it is to assess mortality risk to price its life insurance and annuities. Rated ages boost your structured settlement annuity benefit per premium dollar, or your yield on lifetime payments. Rated ages help to reduce the cost of funding a Medicare Set Aside arrangement where a Structured MSA, is being used { WCMSA LMSA or NFMSA].
  • Structured Settlement Annuity Companies 2023
    Which life insurance companies issue structured settlement annuities going into 2023? 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.
  • 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
    Ways You Can Structure Your Settlement Payments. With a structured settlement you can have more than one type of payment in a single contract. Different types of structured settlement payments can be customized and combined to meet your needs on a stand-alone basis, or in conjunction with other financial products. Diversify your structured settlement, if you wish, by funding with more than one annuity issuer, with treasury funded structured settlements, index linked structured settlement payments and market based structured .
  • Structured Attorney Fees for Tax Deferral for Contingency Fees
    Structured attorney fees is a financial strategy that offers a unique way to defer taxes for lawyers and law firms. Lawyers CAN structure their legal fees even if the plaintiff doesn't structure their settlement. There are multiple ways to structure your attorney fees, such as the an index linked structured settlement where payments are adjusted based on upside changes in the S&P 500 with no downside and a cap of 5%. Trial Lawyers may also use a special deferred pay/deferred compensation arrangement, if market based returns returns are desired with no cap. Plan NOW for year end! Put structured attorney fee expert John Darer® on your settlement planning team.
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  • What Are Structured Settlement Annuities?
    Structured settlement annuities are annuities that can provide one or more customized annuity payment streams in a single contract. Read about structured settlement annuities here.
  • History of Structured Settlements
    Tracing the roots of structured settlements history from 1918, when Congress exempted damages for personal injury or sickness from income tax, to the establishment of structured settlements as a core personal injury settlement planning tool to the present day.
  • What Are Market Based Structured Settlements?
    Market based structured settlements are an alternative or supplementary structured settlement solution for the plaintiff, attorney or law firm that: 1. Can afford to take some market risk 2. Have discretionary settlement dollars. Claimants and attorneys alike may find that market-based structured settlements provide the opportunity to receive tax-free income, or tax-deferred income, while enjoying growth potential.
  • iStructure |Uncapped Fixed Index Structured Settlement Annuity
    iStructure is an innovative game changing fixed index structured settlement annuity for plaintiffs or attorneys. with an intermediate to long term horizon

Qualified Settlement Funds

  • What is a Qualified Settlement Fund?
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  • Firmwide Qualified Settlement Funds Debunked
    Firmwide qualified settlement funds have been heavily promoted to trial lawyers, but have been debunked in a detailed analysis in a July 2022 legal opinion a tax partner at the law firm of Faegre Drinker Biddle & Reath, LLP. Trial lawyers and firms who have established Firmwide QSFs or coinsidering establishing a Firmwide QSF should read the analysis as part of their evaluation.

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