Greetings, I hope this message finds you well. Now that discovery has closed, and we are coming nearer to trial, the Court will be curious as to what if any progress we have made to resolve this matter before trial. Moreover, in our discussions with defendant’s counsel, he has seen receptive to attempting to reach a reasonable settlement. As we consider settlement negotiations we are mindful of the following facts.
Our complaint seeks damages in the amount of $60,000.00. Initially, we had identified $54,858.29 in damages caused by the February 24, 2016, and May 2, 2016, losses. The extent of the damages in this matter have largely been undisputed—with one exception. In his deposition, Rick Honig—the property manager of the insured—volunteered that approximately $5,841.94 of carpet and flooring costs were attributable to water damages that was unrelated to the defendant’s negligence. As such, we feel that the value of our claim before applying any discounts to accommodate trial risks begins at $49,016.35.
From there, it is admittedly difficult to assess a reasonable settlement value of this matter because of the manner in which the parties contest liability. Notably, there is no significant dispute as to the facts that gave rise to the loss in …show more content…
For the aforementioned reasons, we are confident in the strength of our case. Nevertheless, out of an abundance of cation we assess that it may be appropriate to apply a 35% discount on our provable damages. Ultimately this would affect to approximately $32,000. While that figure likely represents a reasonable bottom limit for negations, we would aim to resolve this matter in the neighborhood of $40,000. As we begin negotiations we would recommend offering a 10% discount from our ad damnum ($54,000.00) and working down form
Our complaint seeks damages in the amount of $60,000.00. Initially, we had identified $54,858.29 in damages caused by the February 24, 2016, and May 2, 2016, losses. The extent of the damages in this matter have largely been undisputed—with one exception. In his deposition, Rick Honig—the property manager of the insured—volunteered that approximately $5,841.94 of carpet and flooring costs were attributable to water damages that was unrelated to the defendant’s negligence. As such, we feel that the value of our claim before applying any discounts to accommodate trial risks begins at $49,016.35.
From there, it is admittedly difficult to assess a reasonable settlement value of this matter because of the manner in which the parties contest liability. Notably, there is no significant dispute as to the facts that gave rise to the loss in …show more content…
For the aforementioned reasons, we are confident in the strength of our case. Nevertheless, out of an abundance of cation we assess that it may be appropriate to apply a 35% discount on our provable damages. Ultimately this would affect to approximately $32,000. While that figure likely represents a reasonable bottom limit for negations, we would aim to resolve this matter in the neighborhood of $40,000. As we begin negotiations we would recommend offering a 10% discount from our ad damnum ($54,000.00) and working down form