Facts

Plaintiffs The Gardens At Thyme Square Owners' Association sued defendants The Gardens At Thyme Square, MLB Construction Inc., and Pathfinder Pacifica Cloverdale LLC, alleging construction defects.

Defendants The Gardens At Thyme Square and MLB Construction developed and began to construct a 48-unit-townhouse project in Cloverdale sometime between 2006 and 2007. The original developer was unable to complete the project and, in 2009, the bank repossessed the project and sold/transferred it to Pathfinder Pacifica Cloverdale. Ultimately Pacifica Pathfinder Cloverdale completed and sold the remaining units.

PLAINTIFF'S CONTENTIONS:
Plaintiff contended that after the units were sold problems arose with respect to roofing and stucco.

Result

Defendants paid $1.5 million to settle the case. All defendants, except for Pathfinder Pacific, were covered under two separate "wrap" insurance policies, one with Quanta insurance and one with Lloyds of London. On behalf of all contractors and subcontractors, except Pathfinder Pacific, Quanta insurance paid $1,100,000 and Lloyds of London paid $200,000. Pathfinder Pacific also paid $200,000.

Other Information

FILING DATE: Feb. 7, 2013.