The recipient of structured annuity benefits has filed an application for approval of transfer of those benefits.
M. Barry Jr. received an annuity that provides for 96 monthly payments of $492.08 each and 84 monthly payments of $2,030.08 each, according to a complaint filed by J.G. Wentworth.
Barry then entered into a transfer agreement with J.G. Wentworth. In the agreement, Barry agreed to sell and assign the payments to the company, according to the complaint filed Sept. 16 in Jefferson County District Court.
"In exchange for the sale and assignments of the aforesaid payments, M. Barry Jr. is to receive a lump sum cash payment in the amount of $9,000, less compliance and administrative fees and filing and related expense fees," the suit states.
In its application, J.G. Wentworth asks the court to approve the transfer of the payments from Barry to it.
Attorney Julie Pi Evans of Julie Pi Evans Law Firm, in Houston, will represent J.G. Wentworth.
Jefferson County District Court case number: B196-118