Plaintiffs Released From Bond Lien in Long Running Bad Faith Insurance Case
Attorney Jeffrey F. Ryan Proves Insurance Company Must Honor Policy It Issued and Pay, Reaches Settlement in Favor of Construction Company
(firmenpresse) - REDWOOD CITY, CA -- (Marketwired) -- 02/17/16 -- The plaintiffs, including Peter A., the president of a northern California construction company have recently been released by the bonding company who had underwritten the funding of multiple commercial construction projects totaling $30M, including the construction of a science building on the campus of Mendocino City College, Ukiah, California. All the other owners (plaintiffs) of the construction company had mortgaged his personal residence as collateral of the $30M in bonds issued by the surety and is now free and clear of any obligations to financial institutions.
The case centered around damage caused by torrential storms to the structure of the science building while under construction. Heavy wind damaged a required external roof membrane, (which was compliant with all regulations) which then allowed rain water to create further damage inside the fully built-out interior of the science building. Upon inspecting the damage, the insurance company refused to pay the claim, threatening the completion of the building and the personal and professional financial welfare of the construction company and its owners. After a thorough investigation of the evidence Attorney Jeffery F. Ryan discovered a fraudulent report issued by the insurance inspector; and was also able to prove the insurance company was not complying with the language and intent of the issued policy.
"Jeff represented my construction firm in a very complex insurance bad faith action. Our company had been bankrupted by a series of events culminating with our insurance company denying us coverage for catastrophic wind and rain damages to a science building we built at a local community college. Because our company could not afford to pay for attorneys' fees or costs, I needed a contingent fee lawyer to advance all costs and wait to get paid for nearly 3 years. Mr. Ryan did just that for us. Jeff's skill and dedication to our case was unparalleled," states Peter A., president of the construction company. "Jeff personally attended nearly every deposition and appeared in person at even the most mundane court appearances. This attention to detail and complete commitment to the case built a strong rapport with judges assigned to the case. Even a cadre of attorneys from one of the most renowned law firms in the country could not overcome Jeff's preparation and skill. I have finally been released from the bond lien due to Jeff's efforts." The case settled after three weeks of jury trial for $6.2M which was the policy limit.
Attorney Jeffrey F. Ryan recently arranged and led a team of attorneys in a whistleblower case that resulted in a $75.5M settlement in favor of the firm's client. Over the past seven years, Mr. Ryan has settled over ten cases with settlements in excess of seven figures.
is an association of attorneys licensed to practice law before all of the courts in the State of California, with a focus on business litigation in the areas of employment law, business disputes, trade secret and intellectual property law, and insurance bad faith cases. The firm also handles the negotiation of severance packages for executives. The Law Office of Jeffrey F. Ryan acts in the best interests of its clients, the law, and the courts at all times.
Media contact:
Austin Edgington
+1-650-245-0166
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Datum: 17.02.2016 - 15:00 Uhr
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News-ID 451297
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