Robert J. Mongeluzzi of Saltz Mongeluzzi Barrett & Bendesky PC, interim lead counsel for the plaintiffs, and J. Brian O'Neill, the Conshohocken real estate developer, said at a news conference that the $36.25 million global settlement concludes all outstanding litigation on behalf of the fire victims, together with the litigation related to the cost of re-building the two destroyed apartment buildings at Riverwalk. The settlement also concludes the claims brought by the Law Offices of Robert A. Stutman, PC, of Ft. Washington, PA, which served as liaison counsel on behalf of the subrogated insurance company plaintiffs who provided coverage to many of the tenants.
Mongeluzzi said the victims are relieved and generally satisfied with the settlement. "They can finally get on with their lives," he said on behalf of the victims. "While the financial reimbursement does not come close to replacing cherished belongings and memories, the amount recovered is substantial, fair and just. Attorney Stutman, defense counsel, Montgomery County Court of Common Pleas Judge Gerald Corso, and U.S. District Court Judge Petrese B. Tucker, and the court-appointed mediator, the Honorable James Melinson (Ret.), are to be commended for working to help reach this conclusion in very complex litigation. They were diligent, creative and saved valuable time and expense for our citizens."
Robert A. Stutman, Esq., whose law firm concentrates its national practice on insurance company representation in property and worker's compensation matters, teamed on this complex, catastrophic case with Mongeluzzi and SMBB. He noted, "This is an example of an excellent outcome as a result of the pooled resources of our respective attorneys and experts."
The former residents of the apartment complex, located along the Schuylkill River, filed a class action complaint (08-23265, Court of Common Pleas Montgomery County) that alleged negligence on the part of welders employed by an Aston, Delaware County contractor. That contractor was named as a defendant along with others responsible for various roles in the construction, management and development of the complex. O'Neill's company, O'Neill Properties, was the developer of the complex.
On the one-year anniversary of the fire, Mongeluzzi publicly reported little movement toward a settlement. He said Judge Melinson, the mediator, was instrumental in helping to bring the sides together to resolve the matter and avoid what surely would have been a long and costly jury trial. "The mediator helped all of the defendants realize that the risk of going before a jury was much greater than reaching a fair and reasonable settlement," Mongeluzzi explained.
"This has been an incredibly emotional ordeal for our family and we're just happy that there is some closure," said Dr. Irwin Becker, a family doctor whose apartment was destroyed in the fire. "We lost valuables but we've always known that nothing is more valuable than our loved ones, and our knowledge that some good might come from the lessons learned from this horrible tragedy."
The SMBB firm in recent years has successfully represented victims of numerous construction disasters, including the collapses of the Tropicana casino garage, Pier 34, and the Kimmel parking garage.
In addition to Mr. Mongeluzzi, the SMBB counsel team includes Patrick Howard and Larry Bendesky. Mr. Stutman's co-counsel included Michael Hopkins and Daniel Hogan from his firm.
The Stutman firm has represented major insurance companies on large fire losses and mass torts throughout the country, including the 2007 California wildfires, a $50 million refrigeration plant fire in Kentucky, and the catastrophic fire which destroyed the "White Building" at 12th and Sansom Streets in Philadelphia.
SOURCE Saltz, Mongeluzzi, Barrett & Bendesky, PC