Opinion
Civil Action 18-cv-04994-AKH
05-26-2022
JEFFREY LEONARD, IN HIS CAPACITY AS TRUSTEE OF THE POPLAWSKI 2008 INSURANCE TRUST; PHYLLIS POPLAWSKI; PBR PARTNERS, BRIGHTON TRUSTEES, LLC, on behalf of and as trustee for COOK STREET MASTER TRUST III; BANK OF UTAH, solely as security intermediary for COOK STREET MASTER TRUST III; PEAK TRUST COMPANY, AK, on behalf of and as trustee for SUSAN L. CICIORA TRUST and STEWART WEST INDIES TRUST; and ADVANCE TRUST & LIFE ESCROW SERVICES, LTA, as securities intermediary for LIFE PARTNERS POSITION HOLDER TRUST, on behalf of themselves and all others similarly situated, Plaintiffs, v. JOHN HANCOCK LIFE INSURANCE COMPANY OF NEW YORK and JOHN HANCOCK LIFE INSURANCE COMPANY U.S.A., Defendants.
FINAL JUDGMENT
ALVIN K. HELLERSTEIN UNITED STATES DISTRICT JUDGE
WHEREAS, Class Plaintiffs Jeffrey Leonard, in his capacity as Trustee of the Poplawski 2008 Insurance Trust; Phyllis Poplawski; PBR Partners, Brighton Trustees, LLC, on behalf of and as Trustee for Cook Street Master Trust III; Bank Of Utah, solely as Security Intermediary for Cook Street Master Trust III; Peak Trust Company, AK, on behalf of and as Trustee for Susan L. Ciciora Trust and Stewart West Indies Trust; and Advance Trust & Life Escrow Services, LTA, as Securities Intermediary for Life Partners Position Holder Trust, on behalf of themselves and on 1 behalf of the proposed Settlement Class, entered into a settlement (the “Settlement”) with Defendants John Hancock Life Insurance Company of New York and John Hancock Life Insurance Company (U.S.A, );
WHEREAS, on January 10, 2022, the Court entered its Order granting preliminary approval of the proposed settlement (“Preliminary Approval Order”) (Dkt. 203). Among other things, the Preliminary Approval Order authorized Class Plaintiffs to disseminate notice of the Settlement, the fairness hearing, and related matters to the Class. Notice was provided to the Class pursuant to the Preliminary Approval Order, and the Court held a fairness hearing on May 17, 2022, at 2:30 pm;
WHEREAS, on May 17, 2022, the Court entered an Order Approving Class Action Settlement and Certifying the Settlement Class (“Final Approval Order”) (Dkt. 221).
NOW, THEREFORE, IT IS HEREBY ORDERED, ADJUDGED, AND DECREED:
1. The capitalized terms used herein shall have the meanings set forth in the Settlement Agreement (Dkt 201-4), which is incorporated herein by reference.
2. This Final Judgment shall apply to and bind the Releasing Parties as defined and set forth in Paragraph 1.42 of the Settlement Agreement.
3. This Final Judgment shall not apply to the following policies: (i) the policies at issue in the Individual Actions as of the December 28, 2021 date of the Settlement Agreement; 2 (ii) the following policies, which have previously reached settlements with John Hancock: 94656436, 93706844, 93717346, 93717353, 93717361, 93717379, 93752541, 94265337, 94472578, 93970200, 94270709, 93509370, and 93787802; and (iii) the 155 policies, listed below, that submitted a timely and valid written request to be excluded from the Settlement Class.
The Individual Actions refer to: (i) Davydov v. JHNY and JHUSA, 18-CV-09825 (S.D.N.Y.); (ii) Twin Lakes and Lakewood Holdings v. JHNY and JHUSA, 655429/2018 (N.Y. Sup. Ct.); (iii) LSHand Wells Fargo v. JHNYand JHUSA, 19- cv-1009 (S.D.N.Y.); (iv) Lipschitz et al. v. JHNY, 655579/2019 (N.Y. Sup. Ct.); (v) VICOFII Trust et al. v. JHNY, 19-cv-11093 (S.D.N.Y.); (vi) Wells Fargo v. John Hancock Life Insurance Company (U.S.A.), 20-cv-5032 (S.D.N.Y.); (vii) Kolel Beth Yechiel Mechil of Tartikov, Inc. v. JHNY and JHUSA, 650452/2021 (N.Y. Sup. Ct.); and (viii) all actions consolidated with (v) pursuant to the Court's Oct. 14, 2021 Order (19-cv-l 1093, Dkt. 99).
3
1200104
1203365
93354900
93548113
93856318
1200205
1203391
93364586
93554319
93857217
1200291
1203469
93367209
93568400
93859007
1200330
1203877
93368363
93574952
93859932
1201045
1204097
93368637
93588739
93873230
1201046
1204230
93383974
93589380
93879096
1201696
1204735
93384758
93595692
93890465
1202414
1204737
93391373
93625283
93902187
1202432
1204860
93391381
93638427
93907970
1202461
1204884
93398279
93639029
93911212
1202519
1204938
93407898
93640209
93921583
1202539
1205359
93411973
93644557
93921591
1202630
1205360
93445823
93704963
93939700
1202648
1205520
93450294
93709061
93961563
1202651
1205527
93461093
93711646
93989077
1202678
1210594
93461101
93720712
94005428
1202722
1212403
93461390
93725737
94015237
1202765
1212410
93462091
93729440
94060480
1202771
1217876
93463586
93731461
94060498
1202864
93151710
93480556
93734168
94113164
1202887
93157279
93483329
93739043
94142890
1203022
93205946
93483386
93740769
94184272
1203023
93230761
93491512
93780898
94184280
1203133
93269132
93506400
93794485
94184298
1203192
93288157
93516250
93794493
94194156
1203214
93288165
93527984
93794501
94199510
1203308
93288173
93527992
93816718
94330297
1203309
93288181
93529212
93827384
94343084
1203311
93325843
93539856
93828994
94378833
1203359
93354801
93539955
93840718
94636271
1203360
93354892
93545598
93842482
94636289
The individuals and entities that own these policies are not included in or bound by this Final Judgment, solely as it relates to the above referenced policies, and are not entitled to any recovery from the settlement proceeds obtained through this Settlement with respect to the above policies. To the extent an individual or entity owns both a policy that is excluded from the Final Settlement Class and a policy that is included in the Final Settlement Class, such individual or entity shall be bound by this Final Judgment in connection with any policies included in the Final Settlement Class. For the avoidance of doubt, such individuals or entities shall not be bound by this Final Judgment to the extent it relates to policies that are excluded from, or otheiwise not a part of, the Settlement.
4. This Court has jurisdiction over the subject matter of this action and the Releasing Parties are subject to this Court's jurisdiction for purposes of implementing and enforcing the Settlement, bar order, and releases contained herein.
5. This Final Judgment shall operate as a complete and permanent bar order that discharges and releases the Released Claims and Unknown Claims by the Releasing Parties as to all the Releasees.
6. The Releasing Parties shall be deemed to have, and by operation of this Final Judgment shall have, fully, finally, and forever released, relinquished, and discharged the Releasees of and from all Released Claims including Unknown Claims, which are expressly deemed waived and released by operation of this Final Judgment.
7. The institution, maintenance and prosecution by any of the Releasing Parties, either directly, individually, representatively, derivatively or in any other capacity, by whatever means, of any other action against the Releasees in any court, or in any agency or other authority or arbitral 4 or other forum wherever located, asserting any of the Released Claims is permanently and completely barred, enjoined, and restrained.
8. The applicability of this Final Judgment and the bar order and releases contained herein shall not be dependent on a Releasing Party's actual receipt of any settlement proceeds obtained through this Settlement.
9. The Releasees may file the Stipulation and/or the Judgment in any action that may be brought against them to support a defense or counterclaim based on principles of res judicata, collateral estoppel, full faith and credit, release, good faith settlement, judgment bar, or reduction or any other theory of claim preclusion or issue preclusion or similar defense or counterclaim.
10. Within 30 calendar days after the Final Settlement Date, the Settlement Administrator shall calculate each Final Settlement Class Member's distribution pursuant to the plan of allocation proposed by Class Counsel and approved by the Court, and within 14 days after that, send for delivery to each Final Settlement Class Member by U.S. mail, first-class postage prepaid, a settlement check in the amount of the share of the Net Settlement Fund to which he/she/it is entitled.
11. The Releasing Parties are permanently barred, enjoined and restrained from making any claims against the Settlement Fund, and all persons, including the Settlement Administrator, Plaintiffs and Class Counsel and Defendants and Defendants' Counsel are released and discharged from any claims arising out of the administration, management or distribution of the Settlement Fund.
12. There is no just reason for delay in directing entry of a Final Judgment as to Defendants and immediate entry by the Clerk of the Court is expressly directed. 5
13. The Settlement Fund Account established by Class Plaintiffs and Defendants, and into which Defendants previously deposited $93, 047, 406.44 as the Final Settlement Fund, are approved as a Qualified Settlement Fund pursuant to Internal Revenue Code Section 468B and the Treasury Regulations promulgated thereunder.
14. Neither the fact nor substance of the Settlement, nor any act performed or document executed pursuant to the Settlement, may be deemed or used as a presumption, inference or admission of fault, liability, injury or wrongdoing in any civil, criminal, administrative, or other proceeding in any jurisdiction.
15. The Action is dismissed with prejudice as to Defendants and, except as provided in the Settlement Agreement and the Court's Order Awarding Fees, Expenses, and Incentive Awards (Dkt. 213) as amended (Dkt. 223) and the Final Approval Order (Dkt. 221), without costs to either Party.
16. Without affecting the finality of this Final Judgment, the Court specifically retains continuing and exclusive jurisdiction over the enforcement of this Final Judgment and bar order and the enforcement of the Settlement, including all future proceedings concerning the administration and enforcement of the Settlement Agreement. 6