Wyle_E_Coyote
Northern Virginia
- Joined
- Dec 26, 2011
- Messages
- 4,109
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of course they are, that is the entire point of having insurance,
most large settlements like this are never 100% collected anyway,
getting a court judgement, and actually collecting that judgement are two entirely different ballgames,
its not as simple as walking up and asking for your 20 million dollar cheque (or whatever amount may be just an example),
the court judgement is only the beginning of the process, not the end,
there will be appeals that could take 5 or 10 or more years, these cases drag on forever,
it could be 5 or more years before they even receive one penny on a case like this,
i have been there and done that and have the t-shirt both as a plaintiff and defendant (although never a case this large).
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Mmmm... no, this was a settlement, reached through negotiations between the parties involved, not a court verdict (although the judge does have to sign off on settlements). There is no judgement, there are no appeals. It's a contractual agreement, the family gets $ in exchange for dropping the lawsuit. Their payments will only take as long as it takes the companies to process a check, and for the lawyer to add up his share. Generally a few weeks.
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