IN RE: RICKY GOINS LAURA GOINS CASE NO. 00-61087
UNITED STATES BANKRUPTCY COURT
EASTERN DISTRICT OF KENTUCKY
LAURA GOINS CASE NO. 00-61087
J.G. WENTWORTH, SSC, LIMITED PARTNERSHIP PLAINTIFF
VS. ADVERSARY NO. 00-6067
LAURA GOINS DEFENDANT
MAXIE HIGGASON, TRUSTEE INTERVENING PLAINTIFF
J.G. WENTWORTH SSC, LP
SAFECO LIFE INSURANCE COMPANY and
SAFECO ASSIGNED BENEFITS SERVICE CO. DEFENDANTS
In accordance with the Memorandum Opinion of the court this day entered, it is ordered and adjudged as follows:
1. The cross-motions of J.G. Wentworth S.S.C.L.P. and Maxie Higgason, Trustee, for summary judgment are denied.
2. The complaint of J.G. Wentworth S.S.C.L.P. in this adversary proceeding is dismissed.
3. The Intervening Complaint of the trustee, Maxie Higgason, is dismissed.
4. The objections of J.T. Wentworth S.S.C.L.P. and Maxie Higgason, trustee, to the exemptions claimed by the debtor are overruled as moot.
5. The Purchase Agreement between the debtor, Laura A. Smith-Goins, and Wentworth is set aside. The undistributed annuity payments owing to the debtor are property of the debtor. Wentworth must suffer the loss occasioned by its overreaching and misconduct in this transaction with the defendant debtor.
6. J.G. Wentworth S.S.C.L.P. has no ownership interest in the identified annuity payments covered by the Purchase Agreement with the debtors, nor are these payments encumbered by the alleged security interest of Wentworth.
7. The undistributed annuity payments owing to the debtor are not property of the bankruptcy estate.
8. There being no just cause for delay, this is a final and appealable order.
By the Court -
R. Gregory Lathram, Esq.
John O. Morgan, Jr., Esq.
Chrisandrea Turner Ingram, Esq.
Maxie E. Higgason, Esq.
William J. Clarke, Esq.
William J. Becket, Esq.
John P. Reisz, Esq.
Mary L. Fullington, Esq.
Thomas G. Rohback, Jr.