Confidential
Settlement – $12,000,000Judge
Court
L.A. Superior San Fernando
Attorneys
Plaintiff
Defendant
Brian S. Letofsky
(Watkins & Letofsky LLP)
Experts
Plaintiff
James Lee Bynum
(technical)
Rudy L. Rodriguez
(technical)
Defendant
Bert W. Howe
(technical)
Richard H. Dodd
(technical)
Mark C. Vanderslice
(technical)
Larry Russell
(technical)
Seb J. Ficcadenti
(technical)
William J. Cathcart
(technical)
Steven R. Marvin
(technical)
Malcolm Lewis
(technical)
Jerry Tucker
(technical)
Henry M. Koffman
(technical)
Facts
In 1986 Defendants developer and subcontractors completed the construction of a 748-unit condominium located in Santa Clarita. The range of purchase pricing was from $60,000 to $70,000 per unit. Plaintiff homeowners' association began experiencing damage to common areas and separate interests, including water intrusion.
Settlement Discussions
Plaintiff contends its demand was $15,000,000 and Defendants initially offered $10,000,000. Defendant contends their offer was $8,500,000 and Plaintiff demanded $29,000,000.
Damages
Construction defects estimated to be worth $15,000,000.
Other Information
This case was originally filed on February 2, 1992; three years before this result. This settlement was reached with the mediation assistance of Ross R. Hart, Esq.
For reprint rights or to order a copy of your photo:
Email
jeremy@reprintpros.com
for prices.
Direct dial: 949-702-5390