The opinion of the court was delivered by: Hon. Judge Oliver W. Wanger
ORDER APPROVING COMPROMISE OF SALVADOR PENDING ACTION OF CLAIMANT OSVALDO RENE LOPEZ,Department: Courtroom 3 (7th Floor) Judge: Hon. Oliver W. Wanger
1. Petitioner, Tommie Cruz, has petitioned for court approval of a proposed compromise of a disputed claim of a minor or a pending action involving a minor, or a proposed disposition of the proceeds of a judgment for a minor or an adult person with a disability.
2. Hearing: No hearing is required.
3. Relationship of claimant: Petitioner is claimant's grandmother and guardian ad litem.
4. Claimant: Osvaldo Rene Lopez, is a minor.
5. Defendant: The claim or action to be compromised is asserted, or the judgment is entered, against, Defendants, NATIONAL RAILROAD PASSENGER CORPORATION and BNSF RAILWAY COMPANY.
6. THE COURT FINDS that all notices required by law have been given.
7. THE COURT ORDERS: a. The petition is granted and the proposed compromise of claim or action or the proposed disposition of the proceeds of the judgment is approved. The gross amount or value of the settlement or judgment in favor of claimant is $29,575.13. b. The payer shall disburse the proceeds of the settlement or judgment approved by this order in the following manner:
(1) Payment of the fees and expenses
Fees and expenses shall be paid by one or more checks or drafts, drawn payable to the order of the petitioner and the petitioner's attorney, if any, or directly to third parties entitled to receive payment identified in this order for the following items of expense or damage, which are hereby authorized to be paid out of the proceeds of the settlement or judgment: a. Attorneys fees in the total amount of $5,000.00 payable to McNicholas & McNicholas, LLP; b. Other authorized disbursements payable directly to third parties in the total amount of $4,575.13 for litigation costs.
c. Total allowance for fees and expenses from the settlement or judgment: $9,575.13.
The balance of the settlement or judgment available for claimant after payment of all allowed fees and expenses is: $20,000.00.
The balance shall be disbursed as follows: a. $20,000.00 will be invested in a single-premium deferred annuity, subject to withdrawal only upon the authorization of the court. The terms and conditions of the annuity are specified in the Settlement Proposal for an Annuity for Osvaldo Rene Lopez, ...