Loading
Legal Briefs
Trial lawyer opts for early
payout of structured deal
Almost six years ago, Tampa trial lawyer Michael Trentalange settled a personal injury lawsuit for a client. In lieu of an immediate payout on attorney's fees, the Trentalange & Kelley PA partner accepted an annuity as deferred compensation from the defendant's insurer.
Last month, Trentalange cashed out of that arrangement in a transfer with Stratcap Investments Inc., a subsidiary of Toronto, Canada-based Strategic Capital Corp. The transfer appears to be one of the first the Canadian firm has completed with a lawyer in Hillsborough County.
Stratcap's primarily serves litigants who win structured settlements and then opt for an early payout of the settlement by transferring the asset to companies such as Stratcap. State law requires full disclosure of such transfers.
National Union Fire Insurance Co. secured the $156,526 annuity through AIG Life Insurance Co. and assigned it to Trentalange as the beneficiary. The annuity has a November 2009 maturity date.
Under terms of the deal, Stratcap has paid Trentalange $98,564 in exchange for the annuity. The amount is based on a discounted present value of about $106,606.
"Therefore, the net amount that you will receive from us in exchange for your future structure settlement payments represents 92% of the estimated current value of the payments based on the discounted value using the applicable current rate," the Canadian company states in a petition filed by Carlton Fields PA attorney Robert Young.
Trentalange advised Hillsborough County Circuit Judge Greg Holder he needed the cash for business needs. "My motivation for entering into this transaction with Stratcap is to obtain money now for my law practice," he says. "I am not insolvent or bankrupt."
Stetson appoints professors
to fill endowed faculty jobs
The Stetson University College of Law has selected Professor Roberta Kemp Flowers as the first Wm. Reece Smith Jr. Distinguished Professor.
This appointment follows an announcement by the Joy McCann Foundation that it had donated $500,000 to the law school in honor of Smith, a Carlton Fields PA attorney and law school lecturer.
Prior to her academic work, Flowers worked as an assistant U.S. attorney in the Southern District of Florida.
The law school also announced that Professor Peter Lake has been appointed as the Charles A. Dana Chair. Lake assumes the job from Professor Brad Store, who has retired after 19 years of teaching at the law school.
Lake also serves as co-director of the school's Center for Excellence for Higher Education Law and Policy.
Rudy, Whitson volunteer
for dangerous animal duty
Tampa lawyers Jack Rudy II and Ed Whitson III have ventured into an area of law that departs somewhat from their work in the commercial marketplace.
Each of these experienced attorneys have volunteered to serve as Hillsborough County hearing officers on issues related to animal enterprise permits, dangerous dog classifications and appeals over animal confiscations for euthanasia.
A former Florida Bar governor, Rudy focuses on antitrust and trade regulation and business, environmental and white-collar crime law as a shareholder at Bush Ross PA.
Whitson, an Akerman Senterfitt shareholder, practices bankruptcy and creditors' rights law.
Supreme Court suspends
Taryn Temmer for three years
Hillsborough County sheriff's deputes arrested Taryn Xenia Temmer, 40, in November on a felony charge of possessing crack cocaine. It was just the latest alleged drug violation for the Brandon attorney. Only this time the accusation has cost Temmer her law license.
Earlier this month, the Florida Supreme Court suspended Temmer for three years effective Nov. 16. If reinstated, she must serve another three years on probation. She did not contest a referee's report that Pinellas-Pasco Circuit Judge Anthony Rondolino filed with the state's high court.
In December, the court issued an emergency order prohibiting Temmer from the practice of law. Besides concerns over her drug use, the high court also noted she had failed to appear in lower court actions on her clients' behalf. She mostly represented parents in dependency actions.
Attorney's patience wears
thin with insurance company
It's been more than five years since a hit-and-run driver struck Michael Rywant as he bicycled along Bayshore Boulevard in Tampa. Still, the Tampa lawyer's insurance company apparently has refused to settle a claim over injuries he suffered that day.
Dissatisfied with settlement negotiations, Rywant has sued Pacific Indemnity Co., a subsidiary of , in the Hillsborough County courts.
The complaint filed by Tampa lawyer Scott Tozian claims Pacific refused to pay either personal injury protection or uninsured motorist provisions in Rywant's motor vehicle insurance policy. It does not specify the amount of damages sought.
- David R. Corder
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
