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CONFIDENTIAL

Jun. 24, 2003

Construction
Design Defect
Condominium

Confidential

Settlement –  $2,350,000

Facts

The subject suit involved construction and design defects in a 31-unit condominium complex located in Brentwood. The original developer comprised a series of limited partnerships, which ultimately filed bankruptcy. The lender, Glendale Federal Bank finished the project and sold the units to the public.

Settlement Discussions

This construction defect case was mediated by Ross Hart and Tom Craigo. After several days of mediation, the parties agreed on a settlement in the amount of $2,350,000.


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