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DRB Capital, LLC v. Hilario

Appellate Division of the Supreme Court of the State of New York
Mar 16, 2021
192 A.D.3d 506 (N.Y. App. Div. 2021)

Opinion

13338 Index No. 23176/19E Case No. 2019-5791

03-16-2021

In the Matter of DRB CAPITAL, LLC, Petitioner–Appellant, v. Diana HILARIO et al., Respondents–Respondents.

Black Marjieh & Sanford LLP, Elmsford (Dana K. Marjieh of counsel), for appellant.


Black Marjieh & Sanford LLP, Elmsford (Dana K. Marjieh of counsel), for appellant.

Renwick, J.P., Kapnick, Oing, Moulton, JJ.

Order and judgment (one paper), Supreme Court, Bronx County (Ruben Franco, J.), entered May 22, 2019, which granted DRB Capital, LLC's (DRB) petition for approval of a transfer of structured settlement payment rights by respondent Diana Hilario, pursuant to General Obligations Law § 5–1701 et seq. and 26 USC § 5891, unanimously reversed, on the law, without costs, the petition denied and petitioner is directed to resettle the judgment in accordance with this decision.

DRB contends that the judgment is "procedurally defective." Its contention is not contested. The judgment is inadequate to effectuate the transfer of structured settlement payment rights because it "fail[s] to expressly state that the welfare and support of the payee's dependents were taken into account, and that the fees and expenses used to determine the net advance amount are fair and reasonable," as required by the statutes ( see General Obligations Law § 5–1706[b] ; 26 USC § 5891 [b][2][A][ii]). Accordingly, petitioner is directed to resettle the judgment.


Summaries of

DRB Capital, LLC v. Hilario

Appellate Division of the Supreme Court of the State of New York
Mar 16, 2021
192 A.D.3d 506 (N.Y. App. Div. 2021)
Case details for

DRB Capital, LLC v. Hilario

Case Details

Full title:In the Matter of DRB Capital, LLC, Petitioner-Appellant, v. Diana Hilario…

Court:Appellate Division of the Supreme Court of the State of New York

Date published: Mar 16, 2021

Citations

192 A.D.3d 506 (N.Y. App. Div. 2021)
2021 N.Y. Slip Op. 1508
140 N.Y.S.3d 402