Personal injury or wrongful death claims from aviation accidents pose complex challenges. In a tort claim for negligent aviation, juries and judges may impute liability to the aircraft’s owner and operator, manufacturers, maintenance suppliers and the federal government. By the same breath, conflicting laws and choice of jurisdiction become clouded due to the many requirements that come into play such as the law of obligations in contract and torts, federal and state regulatory regimes and international law. Nevertheless, a plaintiff will succeed in an aviation accident lawsuit where the defendant failed to abide by industry standards that govern the manufacturing, engineering, and craftsmanship of aircraft. Tort claimants can recover money in compensation for wrongful death, damage to property and personal injury.
Catherine Nora’s husband who worked as a pilot died in a helicopter crash prompting an aviation lawsuit against the manufacturer for defective design founded on strict liability and negligence. The tail rotor system jammed causing the pilot to lose control steeply tumbling the helicopter into pieces. Nora and other claimants were successful against the manufacturer culminating to a structured settlement to devolve her compensation money. Under the structured settlement scheme, Nora would receive monthly payments and several annuities creating a future income stream like the way lottery winners receive significant cash sums. Although Nora continued to get cyclic payments under the plan, she found herself plumbing the very depths of financial despair. She decided to sell a part of the structured settlement to a factoring company.
Sell Structured Settlement in Montana
Selling Her Structured Settlement Payments Took Precedence Over Other Financial Options
Nora’s financial toolkit lion’s share derived from the earnings of her structured settlement payments. Her husband’s death overreached the family’s assets as the couple had only celebrated their first wedding anniversary. With the shifting sands of her financial circumstances demanding flexibility and liquidity, the only bright spot was selling her structured settlement proceeds to a factoring company.
Salient Documents to Scrutinize Thoroughly in Factoring Deals
Montana law required the buyer of annuities to send to Nora a disclosure statement highlighting the core financial terms of the deal, including the precise payments assigned, the net amount transferred and the processing fees imposed on the payee. The disclosure statement got delivered to her three days before the transfer and court filing forms. A provision gave Nora a three-day rescission window within which she could cancel without incurring liability.
Court with Competent Jurisdiction to Approve the Transaction
A petition seeking the transfer of her periodic payments under the structured settlement annuity was brought in her county of residence. However, Montana law allows the structured settlement purchasing companies to institute the application in the county where the “obligor or annuity owner and annuity issuer maintain their principal place of business. Similarly, they could opt to file it in the county where the court approved the original annuity contract.
Grounds That Made Her Application Tenable in Court
When selling structured settlement payments, Nora expected to make a roaring trade, but she had to pass under the court’s microscope. The court approves a factoring transaction for Montana denizens where the payee demonstrates the transfer serves their best interest. The test also takes into account the welfare of dependents to pass muster as in the best interests of the seller. Nora was quite indifferent with all the legal jargon and wanted them to finalize the deal as fast as they could. Finally, a court order was issued sanctioning the deal.
When Your Ship Comes In, the Coast Is Clear -Do What You Want With The Lump Sum
Nora got the peace of mind following the court’s approval of her structured settlement sale. The structured settlement funding company informed her she could access the lump sum payment within a couple of days. Nora had fallen in love with a fellow student where she was continuing her nursing course. Her new boyfriend needed an expensive heart surgery, and none of them was employed. She needed more bucks to foot his medical life and save his life. Although she could not tell this to the judge, Nora knew the coast was clear after receiving her lump-sum cash award.
First-Class Structured Settlement Buying Companies
JG Wentworth will craft a tailored agreement to facilitate the transfer of your structured settlement, serve interested parties and resolve contentious issues before the hearing comes. The company gives an unbeatable price offer for structured settlement payment rights.
Peachtree Financial Solutions will file a petition in court, abide by all laws and convince the judge the transfer is in your best interests. As a reputable buyer of annuities and structured settlement payments, they act as your representative to adhere to legal requirements.
SenecaOne has substantial industry experience to steer clear of any legal handicaps in your factoring transaction, has a fair, just and remarkable discount rate and annual interest to maximize the earnings from the sale of structured settlements.