by: Peter J. Gallagher (@pjsgallagher)

The Appellate Division handed down a decision today that will never have any impact on my life. The case — In re. Petition of BofI Federal Bank to Assign Lottery Prize Payment Rights — was a consolidated appeal of four Law Division cases that denied BofI Federal Bank's request to assign certain lottery payments from four separate prize winners.

The appeal involved four winners of the Win for Life scratch off game. (As an aside, I have loyally played this game for years in both New York and New Jersey and never even come close to winning, unless scratching off two "LIFE" symbols seemingly every time means I am getting close.) Under the rules of the game, winners receive a guaranteed prize of $1 million payable in quarterly installments for 18 years and then quarterly payments for the rest of the winner's lifetime. For reasons not disclosed in the opinion, BofI (Bank of the Internet if you are curious) filed petitions seeking approval of the assignment of the last two years of the guaranteed quarterly payments.

 

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