Claims & Litigation
Processing Client Litigation
Processing Company filed a coverage action against its insurers to recover costs incurred for only a few of its more expensive environmental liabilities. The litigants spent three years in discovery proceedings and were no closer to a resolution of the disputed claims.
Processing Company engaged the professionals currently with Resolution Dynamics. At our recommendation the litigants were able to get a court-approved stay of the litigation, while the Processing Company prepared settlement offers to resolve all of its environmental claims. We investigated the company’s environmental claims and possible future environmental risks, prepared a settlement strategy, and made claim presentations to each of the carriers within 9 months.
Over the next 12 months, Processing Company had completed settlements with all its carriers. Offering to settle environmental claims on a comprehensive basis, enabled the company to recover 85% of all its past and projected environmental costs, and litigation costs virtually ended once the lawsuit had been stayed.I'm a paragraph.
Petroleum Company with Asbestos and Environmental Litigation
A Petroleum Corporation with a significant portfolio of environmental liabilities also has a growing portfolio of asbestos liabilities. After years of litigation with its carriers, the Corporation had cost-sharing agreements with its carriers for the defense of asbestos lawsuits.
The professionals currently with Resolution Dynamics were able to develop a coherent and effective strategy to facilitate settlements for only environmental claims. While some excess carriers insisted on full policy release, the Corporation successfully settled its environmental claims and maintained available coverage for asbestos litigation for the foreseeable future.