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Contracts Keyed to Calamari
In re Kaufman
Citation:
37 P.3d 845Facts
John Kaufman (defendant-assignor) settled a wrongful death claim. In doing so, Kaufman signed a settlement agreement under Oklahoma law whereby he would receive a lump-sum payment and periodic monthly payments of $2,008.75. The monthly payments would be measured by Kaufman’s life with a twenty-year payment guarantee. The settlement agreement specifically stated that Kaufman had no right to sell, mortgage, encumber, or anticipate the future payments. SAFECO Assigned Benefits Company (hereinafter “SAFECO”) purchased an annuity to ensure Kaufman’s monthly payments. Kaufman later sold sixty monthly annuity payments to J.G. Wentworth S.S.C., Limited Partnership (hereinafter “Wentworth”) (plaintiff-assignee). Wentworth, in return, would receive a lump sum payment of $80,507.26. Kaufman eventually filed for Chapter 13 bankruptcy. Wentworth moved for relief from the automatic stay to seize the annuity payments. The bankruptcy court certified questions to the Supreme Court of Oklahoma.
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