ORDER ADOPTING FINDINGS AND RECOMMENDATIONS RE: PETITION ) FOR MINOR'S COMPROMISE IN PART (Doc. No. 78)
Plaintiff, Anika Slagowski, is a minor in this action ("minor"). On October 19, 2012, the minor's guardian ad litem, William Terrell, filed a Petition for Minor's Compromise ("the Petition"). See Court's Docket, Doc. No. 75. On November 5, 2012, the Magistrate Judge issued Findings and Recommendations recommending that the petition be granted in part. See id. Doc. No. 78. Specifically, the Magistrate Judge reduced the amount of costs reimbursed to Plaintiff's attorney by $700.00. The Magistrate Judge also indicated that the minor's attorney could withhold $5,000.00 to pay outstanding costs, but that within sixty (60) days, the minor's attorney must file a detailed accounting of the outstanding costs paid, with proof that any remaining funds were transferred to the minor's account.
The Findings and Recommendations were served on all parties and contained notice that any objections were to be filed within fifteen days. No party filed objections, however, on November 20, 2012, the parties filed a stipulation noting that the $700.00 reduction in costs should be added to the minor's net recovery.*fn1 See Court's Docket, Doc. No. 80.
Accordingly, upon a review of the Findings and Recommendations and the parties' stipulation, IT IS HEREBY ORDERED that the Findings and Recommendations dated November 5, 2012, are ADOPTED IN PART as outlined below
1. Defendants, Delaware North Parks and Resorts, DNC Parks & Resorts at Yosemite Inc., and Melvin Friday, have settled all of Anika Slagowski's claims for $590,000.00. This amount is fair.
2. The request for attorneys' fees in the amount of $147,500.00 and $160,267.28*fn2 for advanced costs should be approved. The amount for advanced costs includes $5,000.00 as a reserve for outstanding costs yet to be billed. Within sixty (60) days, Plaintiff's counsel shall submit an itemized accounting of all outstanding costs paid, and proof that any remaining balance was transferred into the minor's account outlined below;
3. The Court approves the distribution of funds to Strategic Recovery Partnership, Inc., in the amount of $61,877.85 to satisfy the outstanding lien for medical services as set forth in the Petition;
4. The remaining balance of the settlement in the amount of $220,354.87, shall be transferred to William Terrell, in his capacity of guardian ad litem, for the benefit of Anika Slagowski under the California Uniform Transfers to Minors Act. Mr. William Terrell is appointed as the custodian of that account. The balance of the settlement amount shall be used to purchase high-grade zero coupon bonds through Morgan Stanley Smith and Barney;
5. There shall be no access to any of the funds from this account until the minor reaches at least the age of eighteen (18) absent a Court order;
6. Petitioner, William Terrell shall have sixty (60) days to submit proof of the funding of the above referenced account to the Court; and
7. The Court will dismiss of all claims against all defendants listed above with prejudice. Plaintiff's counsel shall submit such dismissal within five (5) days after payment of the agreed settlement amount is made, and after the required proofs outlined above have been submitted to the Court.