Buys stream of lottery payments

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Reference no: EM13726187

On may 1,2008 your client won 21.25 million in the Wisconsin lottery. The lottery commission gave them the option of receiving a lump sum or a 25-year annuity paying 850,000 each year, with the first payment received on May 1, 2008 and the last payment to be received on May 1, 2032. Your client decided to take the annuity option and has received seven payments so far. the annuity payments are made annually by Canada Life Assurance on May 1 of each year. Your client has decided to sell the remaining lottery payments and has retained you to negotiate the best deal available. The deal must be consummated by April 30, 2015. The next payment, due May 1, 2015, will belong to the company that buys stream of lottery payments from your client.

Reference no: EM13726187

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