DC

DC

Thursday, July 19, 2012

A Post for the One Person who Pretends to Care


WARNING --  This post is not about poker.  Nor is it about degeneracy.  Sadly, it's about the law.  Hence, I'll keep it brief...

*****

It's not even 3:00 pm.  I'm shot.  Ready to call it a day.  I was forced to get up this morning at 4:00 am to get into work in time for a 5:45am conference call with an insurance broker in London and a client in Israel.  A merger is going through this evening, and client needs to make sure its got sufficient D&O cover in place (in the event the deal sucks, stock price plummets, and shareholders sue . . .).  Of course, just as I'm pulling into the office garage at 5:30, I get an email from the broker advising that he is yet to finalize the coverage tower and has to push the call back until 8:45.  Awesome.  Who needs more than 3 hours sleep?

Anyway, as I sit here now, tying to be productive and bill a few more hours, I realize I never gave an update on our trial that took place in May (for the one person who may pretend to care).  If I did not mention it previously, the case was an insurance coverage dispute.  We represented the policyholder -- a big company that got fucked over by another big company.  Policy limits at issue were $5 million.  We had breach of contract claims and bad faith claims.  We hit.  Court awarded compensatory damages and extra contractual / punitive damages, for a total of just less than 3x policy limits (yes, villain got what it deserved for not settling!!!).  I actually got the Court's decision by email while sitting in the sports book at Aria, watching the Nationals / Rockies game a few weeks back....  I would not have predicted the biggest win during eight days in Vegas would be work-related. 

Anyway, now we're dealing with post-trial motions and, soon, the inevitable appeal... I guess even when you win, you lose . . .     

-PPP

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