Filed: Jun. 04, 2015
Latest Update: Jun. 04, 2015
Summary: AMENDED ORDER ADOPTING MAGISTRATE JUDGE'S REPORT AND RECOMMENDATION KENNETH J. GONZALES , District Judge . THIS MATTER is before the Court on the Report and Recommendation by United States Magistrate Judge Kirtan Khalsa (Doc. 117), filed May 12, 2015, regarding the Joint Motion for Court Approval of Settlement on Behalf of a Minor (Doc. 96), filed March 20, 2015. The Magistrate Judge found that the parties' proposed settlement of the minor Plaintiff's claims is fair and reasonable, and re
Summary: AMENDED ORDER ADOPTING MAGISTRATE JUDGE'S REPORT AND RECOMMENDATION KENNETH J. GONZALES , District Judge . THIS MATTER is before the Court on the Report and Recommendation by United States Magistrate Judge Kirtan Khalsa (Doc. 117), filed May 12, 2015, regarding the Joint Motion for Court Approval of Settlement on Behalf of a Minor (Doc. 96), filed March 20, 2015. The Magistrate Judge found that the parties' proposed settlement of the minor Plaintiff's claims is fair and reasonable, and rec..
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AMENDED ORDER ADOPTING MAGISTRATE JUDGE'S REPORT AND RECOMMENDATION
KENNETH J. GONZALES, District Judge.
THIS MATTER is before the Court on the Report and Recommendation by United States Magistrate Judge Kirtan Khalsa (Doc. 117), filed May 12, 2015, regarding the Joint Motion for Court Approval of Settlement on Behalf of a Minor (Doc. 96), filed March 20, 2015. The Magistrate Judge found that the parties' proposed settlement of the minor Plaintiff's claims is fair and reasonable, and recommended that the settlement be approved. On May 26, 2015, the parties filed a Joint Notice of Waiver of Objections to Report and Recommendations by Magistrate Judge (Doc. 118), in which they waived any objections to the Proposed Findings and Recommended Disposition.
I concur with the Magistrate Judge's findings and recommendations. I therefore:
(1) adopt the Guardian ad Litem's Report (Doc. 109);
(2) find that the proposed settlement involving the minor is fair and reasonable;
(3) grant the parties' Joint Motion for Court Approval of Settlement on Behalf of a Minor (Doc. 96):
(4) approve disbursement of settlement funds as agreed upon at the May 11, 2015, hearing as follows:
(a) Out of the settlement proceeds of $75,000, the following deductions shall be made:
1. $30,000.00 in attorney's fees;
2. $3,671.50 in costs;
3. $2,100.00 in New Mexico gross receipts tax;
4. $1,688.83 to University of New Mexico Hospital;
5. $4,154.84 to Andrea Cantrell as reimbursement for out-of-pocket medical expenses;
6. $3,374.84 to Andrea Cantrell for future out-of-pocket medical expenses; and
7. $30,000.00 to purchase annuity for Sadie Cantrell's benefit.
(b) The $30,000.00 used to purchase a structured settlement annuity for Sadie Cantrell's benefit shall pay certain future periodic payments as described below:
1. $3,650.00 payable annually, guaranteed 6 years, to begin 07/01/2026; and
2. $3,650.00 payable annually, guaranteed 6 years, to begin 12/01/2026.
The cost of the proposed Structured Settlement Annuity is $30,000.00. The guaranteed return is $43,800.00. The annuity would be provided by Pacific Life Insurance Company, rated: A.M. Best: A+15; Standard & Poor's: A+; Fitch: A+; and Moody's A1.
(5) release the Guardian ad Litem from her duties in this case.
The parties are to submit dismissal documents to the Court within fourteen (14) days of entry of this Order.
IT IS SO ORDERED.
