Metropolitan Life Insurance Co. v. B.J.L.Y., LLC

| Metropolitan Insurance Co. (“Metropolitan”) and MetLife Tower Resources Group, Inc. (“MetLife”), appeal the Pulaski County Circuit Court’s order approving the petition of B.J.L.Y., LLC (“BJLY”), for the transfer of periodic payments from a structured settlement agreement. On appeal, Metropolitan and MetLife argue that the circuit court erred in approving the transfer because (1) the transfer violates the Arkansas Structured Settlement Protection Act’s (“ASSPA”) prohibition on dividing periodic payments between a payee and a transferee; (2) the settlement agreement contained an…