How much money will I get in a settlement? ... So for settlement purposes, the accident lawyers and insurance companies ... One fact of life in determining the settlement value of a personal injury ... It is not difficult to predict the settlement value of a smaller personal ... http://www.averagesettlement.com Wed, 22 Feb 2012 22:06:00 +0100 FeedCreator 1.7.2 http://www.averagesettlement.com/general/advanced-settlements-adds-funders-to-its-capital-markets-platform.html Advanced Settlements, Inc. announced that it has recently established relationships with three new funding sources. These companies are prepared to devote significant capital toward the purchase of insurance policies in the secondary market. The fact that new capital is entering the marketplace is a strong indication that the market for life settlements, and the settlement industry in general, are rebounding. A life settlement is the sale of a life insurance policy to a third party for less than the full amount of the death benefit - but more than the policy surrender value. The primary candidate for a life settlement is an insured who is at least 70 years old, has a life expectancy of less than 15 years and has owned a life insurance policy with a face value of at least $250,000 for at least two years. The three new funder relationships join Advanced Settlements' existing network of funding institutions, giving the company access to over 15 funder sources. "Based on our survey of our funders, we believe we will experience an increase in pricing activity through 2011," said Scott Kirby, Advanced Settlements' co-president. Advanced Settlements celebrated its 10th anniversary in December 2010 and is considered a pioneer of the settlement industry. 2011 could be a strong year for the company according to Kirby. "Research published by the Pew Research Center indicates that an average of 10,000 baby boomers will turn 65 every day over the next 19 years," said Kirby. "As more potential settlement candidates and new funding sources enter the marketplace, we can't help but feel optimistic about opportunities on the horizon for our industry and for consumers looking for alternatives to surrendering a policy or allowing it to lapse." About Advanced Settlements Founded in 2000 in Orlando, Florida, Advanced Settlements, Inc. is a life settlement industry leader and pioneer. Advanced... articles - General Sun, 25 Dec 2011 23:17:59 +0100 http://www.averagesettlement.com/general/baltimore-city-council-president-young-votes-against-police-settlement.html "Great morning, everyone," Baltimore City Council President Bernard C. "Jack" Young said in calling to order today's giddy, post-election Board of Estimates meeting. There was plenty of back-slapping between Young and Mayor Stephanie Rawlings-Blake, whose victories were nearly as dominant as the Ravens' beatdown of the Steelers two days ago. The normally staid mayor also wryly congratulated comptroller Joan M. Pratt on her "hard-fought" re-election (Pratt ran unopposed). But once the good vibes died down and the council bit into the meat of the meeting, Young disagreed with the rest of his colleagues on a $30,000 police misconduct settlement , casting the lone "no" vote as the settlement slid through on the consent agenda. Though it was a relatively small settlement, Young spokesman Lester Davis said the council president wants to send a message that the city is spending too much on police misconduct claims as a whole. He said Young thinks the police department should provide better training to prevent the legitimate claims and the city should be more willing to go to court and fully challenge less solid claims. "He's been pretty consistent in terms of wanting to get his message across," Davis said. "For him, it's just a belief that the city can not afford to continue to pay out this money." According to the city's Law Department, the city spent $7.25 million settling police misconduct claims between mid-2007 and mid-2010. articles - General Sun, 25 Dec 2011 23:17:59 +0100 http://www.averagesettlement.com/general/claims-management-launches-portfolio-monitoring-and-claims-assistance-services-in-canada.html It is estimated that each year, millions of dollars are unclaimed from securities and anti-trust class action settlements. Financial institutions and individual investors with significant losses fail, in some cases, sixty percent of the time to submit claims in securities class action settlements because they are not aware of them or the legal forms are too arduous and overbearing. Canada Claims Management strives to increase awareness of such settlement monies, and assists with the claims process itself, taking the guess work out and ensuring that settlement funds get into the pockets of eligible and deserving class members. Canada Claims Management also provides guidance on what action is to be taken when a notice of a settlement is received. Lawyer and co-founder of Canada Claims Management, Jonathane Ricci, says that "Canada Claims Management is the first of its kind in Canada. We intend to change the class action lawsuit landscape by focusing our attention on increasing the number of claims made by investors and institutions. Let's face it, millions of dollars go unclaimed in class action settlements on a regular basis. We believe that this unclaimed settlement money should rightfully go into the hands of all qualifying class members." Paul Battaglia, Managing Director and co-founder of Canada Claims Management says that "assisting institutional investors and portfolio managers make qualifying claims will help them meet their fiduciary and other obligations they may have toward the investing public." Paul has 23 years experience in the investment and financial services industry. Canada Claims Management is the perfect partnership between legal experience and investment industry knowledge, which allows the firm to provide expertise and help individual investors and institutions get more for their claims from securities and anti-trust class action lawsuits and settlements. Gildan ActivewearInc. Canada Claims Management believes investors who invested in the TSX 60 Index may be entitled... articles - General Sun, 25 Dec 2011 23:17:59 +0100 http://www.averagesettlement.com/general/law-suit-settlement-vindicates-billionaire-sam-zell.html Real estate billionaire Sam Zell finally saw resolution yesterday when a class-action law suit filed by LA Times employees back in 2008 was settled for $32 million. The suit had named Zell, who had orchestrated the buyout of the Tribune Co. in 2007, along with The LA Times' corporate parent Tribune Co. and GreatBanc Trust, the trustee for Tribune Co.'s employee stock ownership plan. It asserted that employees' ESOP [Employee Stock Ownership Plan] had been used illegally in the Tribune's ill-fated buyout. Following is a statement regarding the suit settlement from Jon Wasserman, the general counsel of Zell's private investment firm, Equity Group Investment's (EGI): The settlement in the Tribune ESOP lawsuit filed against Sam Zell and others released Mr. Zell without requiring him to make any payment. The settlement followed a well respected Federal judge's decision that Mr. Zell had no financial liability for wrongdoing with regard to the ESOP. The Department of Labor also gave Mr. Zell a complete release without requiring any financial or other consideration from him in exchange. Every independent party that has investigated the Tribune transaction has now confirmed that Mr. Zell's conduct in connection with the deal was beyond reproach. articles - General Sun, 25 Dec 2011 23:17:59 +0100 http://www.averagesettlement.com/general/proposed-settlement-of-canadian-bextra-and-celebrex-litigation.html A notification program began on Saturday, September 17, 2011, as ordered by M. Justice Pr?vost of the Superior Court of Qu?bec and Mr. Justice Perell of the Ontario Superior Court of Justice, to alert Canadian residents of a proposed settlement related to the prescription medications Bextra and Celebrex. This notification program is also to advise affected Canadians of the certification/authorization of several lawsuits as class actions and of Class Members' rights related to that certification/authorization and the proposed Settlement. The court-approved classes include all Canadian residents who purchased and/or ingested Bextra and/or Celebrex (and their estates, administrators or other legal representatives), along with certain of their family members. The Ontario National Classes include all such individuals except for residents of Qu?bec who are members in the equivalent Qu?bec Classes. The proposed Settlement, which requires the approval of the Ontario and Qu?bec Courts, provides for the creation of a $12 million CDN settlement fund from which eligible class members will receive compensation and from which administration costs and legal fees will be paid. Class Members will be able to seek compensation for certain specific medical conditions, including myocardial infarction (heart attack), ischemic stroke, severe cutaneous adverse reactions and other cardiac or vascular events. Compensation may also be paid to class members for income losses, part of the costs of purchasing Bextra and/or Celebrex, and derivative claims of certain family members. The proposed Settlement is not an admission of liability on the part of the defendants, nor has there been any finding of liability by the Courts against them. The defendants deny the allegations made in the lawsuits. As a term of the proposed Settlement, the parties agreed to seek certification and authorization of the actions as class proceedings on consent. Class Members may submit a claim under the proposed Settlement to the Claims Administrator or... articles - General Sun, 25 Dec 2011 23:17:59 +0100 http://www.averagesettlement.com/general/settlement-agreement-filed-in-public-service-company-of-oklahoma-rate-case.html Public Service Company of Oklahoma filed a settlement agreement on Friday in its current rate case at the Oklahoma Corporation Commission. If approved, there will be slight changes in how rates are spread among the various customer classes. But PSO’s overall customer rates will remain unchanged, said the Tulsa-based utility, which is a subsidiary of Ohio-based American Electric Power. Commercial customers will see an increase of about 0.9 percent. Industrial customers will see rates decrease by about 2.5 percent. Residential customers will see a 35-cent increase, or less than one-half of 1 percent, for somone who uses 1,000 kilowatt-hours of electricity a month. The settlement was reached during negotiations with all the parties to the case, PSO said. Although agreed to by all parties in the case, the settlement requires approval of the Corporation Commission. The agreement will be reviewed in a Dec. 6 hearing at the OCC. Pending approval by the commission, the new rates would go into effect no later than the first billing cycle in February. The settlement comes about a month after the state attorney general’s office sought to slash AEP-PSO’s proposed rate hike. The AG’s office, which acts as an advocate for the electric consumer, said the utility should only receive a $21.1 million increase, said Bill Humes, associate state attorney general. The PSO had filed a rate increase request on July 9, saying that rates were $52.4 million below annual costs for delivering power. The PSO has been collecting $31 million of an $81 million increase granted in January 2009, Humes said. If PSO’s request had been approved, the net increase for a residential customer using 1,000 kilowatt-hours per month would amount to $3.83 per month, or about 13 cents per day, the utility said. The PSO has been granted three other rate hikes in the last four years. The commission awarded PSO a $9.7 million increase... articles - General Sun, 25 Dec 2011 23:17:59 +0100 http://www.averagesettlement.com/general/settlement-approved-in-pennsylvania-american-water-rate-case.html The Pennsylvania Public Utility Commission (PUC) today unanimously approved a settlement that allows Pennsylvania American Water to increase water rates. The new rates approved under the PUC settlement maintain the cost of water service at about one penny per gallon for Pennsylvania American Water’s customers. The typical monthly residential water bill for Pennsylvania American Water customers using 4,150 gallons will increase from $48.45 to $51.52, or $3.07 per month. “We believe this is a fair and equitable settlement that balances our customers’ interests with the company’s need to recover costs associated with our millions of dollars in capital investments,” said Pennsylvania American Water President Kathy L. Pape. “We commend the Office of Consumer Advocate and the other parties who worked with us to resolve the case. “The rate request was driven by the prudent capital investments that we made to maintain and upgrade our infrastructure and to ensure that our drinking water meets all quality standards,” Pape said. The company invested approximately $533 million since its last rate case in 2009. In addition to improvements to its water treatment facilities, storage tanks, wells and pumping stations, Pennsylvania American Water replaced approximately 177 miles of aging water main and other equipment within its nearly 9,900-mile distribution system. As part of the settlement, Pennsylvania American Water will continue to contribute $250,000 annually to assist low-income customers who qualify for its Help to Others (H2O) Program?, which offers grants of up to $500 per year, discounts on the monthly service fee and water-saving devices and education. The H2O Program is funded through a company match of customer and employee donations. The settlement grants an increase of approximately $36 million in annual revenue. The company had filed the rate request with the PUC on April 29, 2011, seeking an annual revenue increase of approximately... articles - General Sun, 25 Dec 2011 23:17:59 +0100 http://www.averagesettlement.com/general/settlement-offered-to-man-who-says-officer-beat-him.html The man who was allegedly beaten by a San Francisco police officer last year for not paying for a beer has reached a tentative settlement with the city, officials said. The city attorney's office has proposed a settlement of $71,000, including $26,000 in medical costs incurred by 42-year-old Kevin Woodson, who filed the lawsuit last year. Panos Lagos, Woodson's attorney, said they plan to accept the deal if it is approved by the Board of Supervisors. The settlement is over an incident that took place in April 2010 when Woodson tried to buy a beer at a store on Eddy Street, Lagos said. Woodson was 20 cents short, and when the store owner wouldn't give him credit for the purchase, he pushed some papers off the counter and walked out with the beer anyway. The store owner flagged down Officer Adam Eatia, who found Woodson talking with a friend about a block away n the parking lot of 1700 Eddy St., according to Lagos. Eatia then allegedly approached the men with his billy club drawn, and ignoring Woodson's cries of "I surrender," Eatia struck him repeatedly, fracturing his knee and wrist, Lagos said. Woodson was arrested and cited for resisting arrest and battery on a peace officer, charges that were eventually dropped, Lagos said. "The officer said Kevin Woodson took a blatant fighting stance, and nobody saw that," he said. "This is why they settled the case. They formerly said it wasn't an admission of guilt, but the city's attorney's office doesn't pay money in these cases unless they think they're going to lose." Matt Dorsey, a spokesman for the city attorney's office, said that in no way does the proposed settlement mean Woodson's allegations of abuse are true. He said that a settlement is a way to avoid costly litigation. "Our recommendation reflects a prudent agreement... articles - General Sun, 25 Dec 2011 23:17:59 +0100 http://www.averagesettlement.com/general/verizon-settlement-highlights-need-for-ada-accommodation.html Verizon Communications' payment of $20 million to resolve a nationwide class disability discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC) would constitute the largest disability discrimination settlement in a single lawsuit in EEOC history. The settlement is pending court approval. The underlying suit, which was filed pursuant to the Americans with Disabilities Act (ADA) against 24 named subsidiaries of Verizon Communications, alleged that the company unlawfully denied reasonable accommodations to hundreds of employees and disciplined or fired them under Verizon's "no fault" attendance plans. The EEOC charged that Verizon violated the ADA by refusing to make exceptions to accommodate employees with disabilities. Under the attendance policy, if an employee accumulated a number of "chargeable absences," Verizon placed the employee on a disciplinary step, which ultimately could result in more-serious consequences, including termination. The EEOC claimed that Verizon failed to provide reasonable accommodations for people with disabilities by refusing to make exceptions for individuals whose "chargeable absences" were caused by their disabilities. Employers need to make sure they are engaging in an interactive process with employees to identify reasonable accommodations, and they must take into account the more liberal definition of what constitutes a disability under the recent ADA Amendments Act, said Robin Shea, an attorney with Constangy, Brooks & Smith in Winston-Salem, N.C. But an employer need not excuse an employee's absence indefinitely, Shea noted. "Most court decisions that have addressed attendance under the ADA say that regular attendance is a necessary function of most jobs," she said. "You may have to provide telecommuting, but you don't have to put up with someone who can never come to work." $20M Amount paid by Verizon Communications to settle a nationwide class disability discrimination lawsuit. articles - General Sun, 25 Dec 2011 23:17:59 +0100 http://www.averagesettlement.com/general/why-a-rebel-victory-in-libya-is-better-than-a-negotiated-settlement.html Following months of fighting to defeat Libyan leader Muammar Qaddafi, Libya's rebels are steadily consolidating power following their victory. As a settlement to Libya's civil war, this is potentially very good news. Research on civil war shows that conflicts that end in decisive rebel victory are four times more likely to result in lasting peace than those concluded by a negotiated settlement. However, because the rebel victory in Libya came about so quickly, and as a result of foreign intervention, long-term stability may be harder to achieve. Research over the past decade shows that 22 percent (5 of 23) of the civil wars ended by negotiated settlement between 1940 and 2000 have recurred (as in Sudan), but only 6 percent (2 of 33) of the civil wars ended with a rebel victory have resumed (as in Uganda). Rebel victories are more stable than when the standing government wins or ends a conflict – in part because the rebels must typically gain significant support from fellow citizens in order to win. They are likely to benefit people in ways the incumbent government cannot (due to weakness), or will not (for fear of sparking another insurrection). Also, by winning, a rebel military organization has proven it can dominate the security sector. But as a rebel organization, it must appeal for legitimacy to its domestic audience, and to an international community generally predisposed to support incumbent governments. On both counts it is apt to be generous (thus taking away a public's will to resist), and to ensure security (thus taking away a public's capacity to resist). A second important finding is that when rebels win they are more likely to allow those they govern to have a greater say in politics. Rebels need to buttress the legitimacy of their win: Insisting on greater liberalization of the political... articles - General Sun, 25 Dec 2011 23:17:59 +0100