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Vol 23 No 6 June/July 2018

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Drafting Commercial Agreements

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Data protection handbook

Structured Settlements

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ISBN13: 9780406020567
ISBN: 0406020566
Published: April 1993
Publisher: LexisNexis Butterworths
Format: Paperback
Price: Out of print

In the field of personal injury litigation, ""structured settlements"" are new legal technology. This text attempts to explain the workings of these settlements and to predict the outcome of the concept. What does the litigator have to do to bring this ""technology"" into action? When does he do it? How does this technology work? What are its component parts and how are they put together, and by whom? These are the questions which this book is designed to answer. The answers, however, can represent no more than the present state of this new and rapidly-developing field, as the concept of the structured settlement has not yet reached a final stage. As a result, the US experience is examined, offering a perspective of the route which may be followed in the UK.;In examining the workings of structured settlements, the text seeks to examine the issue from different perspectives: from the viewpoints of the victim, of the victim's legal adviser, the ""Exchequer"", the Bar and the forensic accountant (whose role in the field of structured settlements is recognized in the relevant Practice Direction).;This bringing together of a number of disciplines looking at a litigation problem from different angles (each representing, perhaps, different interests) has a bearing on the significance of structured settlements in the overall setting of personal injury litigation: such settlements cannot be imposed by the courts, they can only be achieved by consent. They benefit both sides. Thus, there is an incentive to both sides to work, if possible, in harmony with each other, rather than contentiously at arm's length.

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Part 1 General principles: the nature of structured settlements; the history of structured settlements; how a structured settlement works; conventional lump sum or structured settlement?; the criteria for a structured settlement; the negotiation, arrangement and approval or a structured settlement; the arrangement of the structure; the future.
Part 2 Case law: ""Foley v Fletcher and Rose""; ""Inland Revenue Commissioners v Ramsay""; ""Dott v Brown'; ""Stachnik v Mitchell""; ""Kelly v Dawes""; ""Everett v Everett and Norfolk County Council""; ""Payne v Thackray""; ""Moxon v Senior""; ""Heeley v Britton""; ""Grimsley v Grimsley and Meade""; ""Everett v Carter""; ""Beck v Plasticisers Ltd""; ""Field v Herefordshire Health Authority; ""Tombs v Merton and Sutton Health Authority""; ""O'Toole v Mersey Regional Health Authority""; ""Lovell v Southampton and SW Hampshire Health Authority""; ""Boobbyer v Johnson""; ""Kearney v Caldwell""; ""Marshall v Westminster City Council""; ""Re A.M.""; ""Wickens v J & J Steel Erection Ltd""; ""Rackshaw v Stallard""; ""Smith v Jr Pembroke""; ""Re L.O.M.; Re W.B.""; ""Fournier v Canadian National Railway Company""; ""Metcalfe v London Passenger Transport Board""; ""Burke v Tower Hamlets Health Authority""; ""Braybrooke v Parker and Bicks""; discounts and diversity.
Part 3 The plaintiff's solicitor's approach"" what cases may be appropriate for ""structuring""?; advising the plaintiff; approaching the defendants; the defendants agree in principle - what next?; trial directions; the ""without prejudice"" meeting; interest; the conventional sum agreed - the next steps; case study - ""Everett v Carter""; payments into court; the discount; involvement of accountants; costs; commission.
Part 4 Defendants' perspectives: the benefits of structured settlements for defendants and insurers; the costs of structured settlements for defendants and insurers; benefits versus costs; task analysis - who does what?
particular defendants; security; new environment.
Part 5 A view from the Exchequer: the claims handling process; reasons to structure; how do structures operate?; design annuity package; obtain annuity quotation; formalizing the settlement; problems with and barriers to structured settlements; moves afoot.
Part 6 Accountancy and taxation issues: general; the forensic accountant's role in structured settlements; the forensic accountant's report; the annuity; structured settlement or traditional lump sum; taxation issues; further practical considerations.
Part 7 A case study. (Part contents).