Abbott v. Thorson

By Judge Randall G. Johnson

In this action, petitioners seek entry of an order authorizing an assignment of lottery winnings. In August, 1990, petitioner, Jerryl W. Abbott, won $2,998,515 in the Virginia State Lottery. Under the payout provisions established by the Lottery, Abbott received an initial payment of $148,515 in August, 1990, a payment of $150,000 in August, 1991, and will receive a payment of $150,000 each August from 1992 through 2009. The other petitioner, Stone Street Capital, Inc., has offered to make an immediate lump-sum payment to Abbott of $900,000 in exchange for Abbott’s…