Confidential
Settlement – $275,000Facts
On Oct. 30, 1996, the plaintiff's insured suffered water damage at its textile manufacturing plant located in Los Angeles. The water damage occurred during earthquake retrofitting by defendant. Rain entered the premises through numerous roof openings made by defendant during the retrofitting process. The plaintiff brought this action against defendant based upon a negligence theory of recovery.
Settlement Discussions
The plaintiff made a C.C.P. º998 settlement demand for $425,000. The defendant made a C.C.P. º998 offer of compromise for $175,000.
Damages
The plaintiff paid its insured $660,094.07 for damage to inventory, samples and other personal property. Plaintiff recovered salvage totalling $45,523.41. Defendant disputed the amount of recoverable damages, contending that the samples for which plaintiff had paid its insured $353,188.50 had no market value.
Other Information
The settlement was reached approximately 10 months after the case was filed. A mediation was held in May, before Retired Judge R. William Schoettler. It did not resolve the matter.
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