by Structured Settlement Watchdog
Seneca one, LLV got the Okaloosa Vamoosa in 2023 Recission of 2010 Structured Settlement Transfer Orders
Alot of bad structured settlement factoring deals happened in Sumter County Florida in years before the 2016 reforms to Florida’s Structured Settlement Protection Act
Read my 2018 blog about the late James Mcmillan, who received the largest settlement of claims arising out of the 2003 Staten Island Ferry crash. McMillan was tag teamed by Seneca One and Structured Asset Funding. Paralyzed Staten Island Ferry Victim in Structured Settlement Annuitant v Factoring Co. War Part 1 – Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews
Granted for Plaintiff in Circuit Court of First Judicial District in and for Okaloosa County, Florida
Henry Hatch Harris, III, as guardian of the property of Kristen Chambless, Plaintiff v Seneca One, LLC Case No.: 2014-CA-003562
Count 1 Recission of Transfer Agreement
Count 2 Exploitation of a Vulnerable Adult
Count 3 Interception or Use of Wire, Oral, or Electronic Communications by Seneca One-Violation of Florioda Statute §934.03(1); and
Count 4 Failure to Stipulate Discount and Finance Charges and Failure to Properly Disclose Required Information in Violation of Florida Statutes §626.99296 [ Florida Structured Settlement Protection Act]
Plaintiff’s damages stemming from the foregoing were $1,245,149.84 PLUS costs of $2,966.71 and attorney’s fees in the amount of $119,341.50. Judgment was entered in favor of Substitute Party Plaintiff Phyllis Harris, as guardian of the property of Kristen Chambless against Seneca One LLC for damages plus fees and cost in the totala mount of $1,367,457.95 with interest running at 6,58% per annum, adjusting in accirdance with Section 55.03 Florida Statutes
ALL of the Okaloosa Orders for Recission and Vacation “Deep Sixed” Orders Made in Sumter County 13 Years Earlier
2010-A-000828 (Sumter County Official Records ORB 2223 pp 588-702) dated August 20, 2010;
2010-CA-000988 (Sumter County Official Records ORB 2237 pp 585-598) dated October 1, 2010;
2010-CA-001344 (Sumter County Official Records ORB 2259 pp 758-770) dated December 6, 2010.
All the transfer orders involved payment streams from structured settlement annuity 861241TO02Z issued December 4, 1986, by Transamerica Occidental Insurance Company
Copy of Final Judgment in Chambless v Seneca One September 15, 2023 Download 2023-09-15 Chambless Order vs Seneca One
Consequences to Investors Growing
To the extent there were payments left where there were third party investors, this decision presents a chilling reminder that investments in structured settlement receivables are not annuities and present more risks for a marginal additional return on investment.