Piasecki v. Liberty Life Assurance Company Of Boston

312 Ill. App. 3d 872, 728 N.E.2d 71 (2000)

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Nature of the Case

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Facts

Donald and Eileen Piasecki (decedents) died in a motor vehicle accident. The co-administrators of the decedents' estates entered into a structured settlement agreement with the original defendants, Nussbaum Trucking, Inc. and Charles Ward (Ds). Ds would provide the decedents' three sons an initial lump sum payment, followed by a stream of quarterly future payments. The settlement barred the payees from assigning their interests in future payments. In 1998, two of the decedents' sons, John and David Piasecki (Piaseckis), assigned their future payments under the settlement agreement to Stone Street Capital, Inc. in exchange for lump sum payments. They sought approval from the trial court. The insurers were not notified of these proceedings. The trial court approved the assignments. The insurers filed petitions to vacate and to intervene. The trial court granted the petitions. The trial court found the antiassignment clauses 'unenforceable' and again granted the Piaseckis' petitions to assign. The insurers appealed.