Recovered More Than $2.75 Million On Behalf of a Homebuilder
Irvine partners Scott Thomas, Nathan Cazier, and Jared De Jong recovered more than $2.75 million from several primary and excess insurers on behalf of a homebuilder, reimbursing the homebuilder for defense costs it shouldered after the insurers denied coverage and refused to defend the homebuilder in several construction defect lawsuits.
Payne & Fears negotiated favorable settlements with all but one insurer. After the trial court granted summary judgment in favor of the remaining insurer, the homebuilder appealed. After the appeal was briefed, the hold-out insurer re-opened settlement discussions, leading eventually to settlement. Payne & Fears recovered 100% of the homebuilder’s defense costs and a substantial portion of Payne & Fears’ costs incurred pursuing the litigation.