Declaratory Action Dismissed With PrejudiceJune 30, 2012 | |
Richard Feldman, a partner in the firm’s Insurance Coverage and Litigation and Litigation & Appeals Practice Groups, and David Guadagnoli, an associate in the firm’s Insurance Coverage & Litigation Practice Group, obtained a global settlement in declaratory judgment action on behalf of two large national carriers with limited or no coverage defenses to the claims asserted. The action arose out of an underlying construction injury case resulting in quadriplegia. The exposure to the clients was approximately $9 million. They obtained a significant contribution from the landlord’s insurance carrier (a non-party with limited to zero exposure), through aggressive mediation and litigation tactics. The declaratory judgment action, which was dismissed with prejudice with a full global release of our clients, was settled for an amount significantly less than the demand.