Lee, et al v. State Farm Mutual, et al

Filing 279

ORDER Approving 273 Petitioner's Petition to Approve the Establishment of the Lee Qualified Settlement Fund as set forth in the order. Signed by Judge John L. Kane on 01/13/09.(wjc, )

IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLORADO Civil Action No. 02-cv-1153-JLK YOON BOON LEE, Plaintiff, vs. STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY, an Illinois corporation, Defendant. ) ) ) ) ) ) ) ) ) ) ) ) ) )

ORDER APPROVING THE ESTABLISHMENT OF THE LEE QUALIFIED SETTLEMENT FUND This Matter is before the Court on the Petitioner's Petition to Approve the Establishment of the Lee Qualified Settlement Fund. The Court, having reviewed the Petition, of the parties, and having heard the argument of the parties, hereby orders, adjudges, and decrees as follows: 1. The Court approves the establishment of the Lee Qualified Settlement

Fund attached as Exhibit 1 to this Order. The terms of the Fund shall be carried out forthwith and the Fund shall be governed by the provisions of the regulations that accompany section 468B of Title 26 of the United States Code. 2. The Court orders that pursuant to the binding settlement agreement

entered into between the parties the Defendant State Farm shall transfer forthwith the sum of $1,250,000.00 to the Lee Qualified Settlement Fund and that these sums be immediately invested in an interest bearing account. The Court shall have continuing jurisdiction of the Fund, however distributions may be made without Court approval. 3. The Court notes that the Defendant State Farm wants assurance that the

contribution set forth above results in a full and complete release of the Defendant State Farm

from any further liability in this matter. The Court therefore orders that upon receipt by Golden Fiduciary Services, the Trustee of the Lee Qualified Settlement Fund, of the sum of $1,250,000.00 from State Farm, the releases executed by the Plaintiffs shall be incorporated in this Order as if fully set forth herein. In addition, and without limiting the application of the terms of that release, the Court orders that, upon receipt by Golden Fiduciary Services, the Trustee of the Lee Qualified Settlement Fund of the sum of $1,250,000.00 from State Farm, the Defendant State Farm shall be fully and completely released. Such full and complete release shall include all matters arising after such receipt including, but not limited to, the investment, management, and treatment of such lump-sum payments by the Trustee as well as any liability arising out of any structured settlements that may be entered into among the Trustee and one or more of the Plaintiffs and/or their counsel. DATED THIS 13th day of January, 2009 BY THE COURT: s/John L. Kane John L. Kane, Senior Judge United States District Court Submitted by: By: s/Angela L. Ekker Angela L. Ekker BARNHART, EKKER & MCNALLY, LLP 7887 E. Belleview, #1200 Englewood, Colorado 80111 Telephone: [phone] Fax: [phone] E-mail: [e-mail] Fred Paoli, Jr., Esq. Bogue & Paoli, LLC 1401 17th Street, #320 Denver, CO 80202 [phone] [phone] (fax) E-mail: [e-mail] Attorneys for Plaintiff