Marco Muzzo in the News Oh

Forum Sponsor
Neil_V said:
My shop being in a well to do area of town, I have many well to do customers, and I can say with certainty the majority will fork over what's fair... that said, you look at the 200k Merc they're driving and act as though your ride is worth double what it's actually worth, they won't hesitate to tell you where to go. So the question is what's the precedent? Is 25m reaching for the stars. My guess, probably; and one would bet that's the legal advice the family received. That some expect the family to just say sure why not cuz they can is a bit rich; pun intended.
Click to expand...

I've worked on some very high end homes and have only been screwed once. If your work represents quality they see the value but they didn't get rich by giving it away.

I'm sure sometime since the crash a Muzzo has said "I'd give anything to fix this."

So how about $25 M?

Muzzo: "Would you take 8?"

You said anything.

Muzzo: "Nine?"
 
CruisnGrrl said:
Hey if 25 million convinces some one who easily has the means to get a ride instead of driving drunk to not drive drunk I don't see an issue with it.
Click to expand...

Oversimplified. Ever wonder how every month there is a celebrity/athlete/CEO that could easily hire a driver in the news. The Muzzo case will make no difference.
 
The rule in filing suits is to name EVERYBODY that may have had a connection to the day. My estimate if you saw the paperwork, the bar he was in before driving, the flight attendant on the charter flight, the plane owner, the company the owned the car he was driving, his ties to the family business and his girlfriends cat are all on that paperwork. You name everybody so when the courts divy up the blame , multiple insurance companies get to fight it out. Thats how you get 25M out of a guy that only has 5.
 
crankcall said:
The rule in filing suits is to name EVERYBODY that may have had a connection to the day. My estimate if you saw the paperwork, the bar he was in before driving, the flight attendant on the charter flight, the plane owner, the company the owned the car he was driving, his ties to the family business and his girlfriends cat are all on that paperwork. You name everybody so when the courts divy up the blame , multiple insurance companies get to fight it out. Thats how you get 25M out of a guy that only has 5.
Click to expand...
Thanks. That actually makes sense when explained that way. I've never been involved in any type of litigation and so have zero experience.

Sent from my SM-A500W using Tapatalk
 
crankcall said:
The rule in filing suits is to name EVERYBODY that may have had a connection to the day. My estimate if you saw the paperwork, the bar he was in before driving, the flight attendant on the charter flight, the plane owner, the company the owned the car he was driving, his ties to the family business and his girlfriends cat are all on that paperwork. You name everybody so when the courts divy up the blame , multiple insurance companies get to fight it out. Thats how you get 25M out of a guy that only has 5.
Click to expand...

Sounds more like US style litigation ... not one in Canada. It would be interesting to know what is actually in the lawsuit paperwork.
 
It was US style , and if you think back 20yrs ago watching TV and the idea of suits for everything and anything was a comedy to Canadians. With the rise of attorney advertising, and specialty firms that only do personal injury and loss (a US thing previously) its how it works here now.
I had lunch with my lawyer on Tuesday and we discussed this, he's a trial lawyer by trade, but advises me on real estate and stuff since he is 65% smarter than me.

It would be interesting to see the paperwork on the Muzzo files. It will drag out for yrs, one thing insurance companies have are small armies of legal consul.
 
Had coffee and toasted coconut(donut, not real toasted coconut) with friend yesterday. Never got a trade, does things by trial and error. We come to the same conclusions as the high the priced talent. Strange.
 
nothing strange there. What do you call the guy that graduates last in his law class? Lawyer.....
 
crankcall said:
It would be interesting to see the paperwork on the Muzzo files. It will drag out for yrs, one thing insurance companies have are small armies of legal consul.
Click to expand...

Wouldn't the criminal acts and convictions void any insurance policy?
 
His car insurance could be void following a criminal conviction, however the other parties involved, like the bar he was in carry insurance against things such as a potentially over served customer getting into trouble. His business would undoubtably be insured.. I don't know his position within the company but D&O insurance covers criminal activity to protect the rest of the company.
However it plays out will be very complicated


This is why when trying to avoid things like taxes, parents will put kids names on things like house deeds, and on the company as a 'shareholder' . Then little jimmy gets an impaired charge and has a million dollar civil suit and mom has to sell the house. Because little jimmys name is on the deed.
That $275 an hr a lawyer wants to chat for 45mins is sometimes worth it.
 
raginduck said:
I understand that D&O insurance also excludes criminal acts.
Click to expand...

From Wikipedia

"Directors and officers liability Insurance (often called "D&O") is liability insurance payable to the directors and officers of a company, or to the organization(s) itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for alleged wrongful acts in their capacity as directors and officers. Such coverage can extend to defense costs arising out of criminal and regulatory investigations/trials as well; in fact, often civil and criminal actions are brought against directors/officers simultaneously. Intentional illegal acts, however, are typically not covered under D&O policies.

It has become closely associated with broader management liability insurance, which covers liabilities of the corporation itself as well as the personal liabilities for the directors and officers of the corporation."

I'm assuming that DUI is considered intentional but is the accident?
 
nobbie48 said:
From Wikipedia

"Directors and officers liability Insurance (often called "D&O") is liability insurance payable to the directors and officers of a company, or to the organization(s) itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for alleged wrongful acts in their capacity as directors and officers. Such coverage can extend to defense costs arising out of criminal and regulatory investigations/trials as well; in fact, often civil and criminal actions are brought against directors/officers simultaneously. Intentional illegal acts, however, are typically not covered under D&O policies.

It has become closely associated with broader management liability insurance, which covers liabilities of the corporation itself as well as the personal liabilities for the directors and officers of the corporation."

I'm assuming that DUI is considered intentional but is the accident?
Click to expand...

Don't think the coverage extends beyond conviction?




Sent from my iPhone using Tapatalk
 
nakkers said:
Don't think the coverage extends beyond conviction?

Sent from my iPhone using Tapatalk
Click to expand...

Typically insurance covers events occurring while the policy is in force even if the claim is made after the policy expires. I don't have enough legal knowledge to state how a DUI and crash would be treated. Does the DUI criminal act negate the crash coverage?

If the settlement comes out of the Muzzo pockets the Neville-Lakes get the money and the Muzzos get punished..... justice.

If the settlement is born by the insurers the Neville-Lakes get compensated but the Muzzos don't get punished......not as righteous an end.

How much does a billion dollar organization spend on insurance each year? Sometimes one sucks it up to get future profits.
 
nobbie48 said:
Typically insurance covers events occurring while the policy is in force even if the claim is made after the policy expires. I don't have enough legal knowledge to state how a DUI and crash would be treated. Does the DUI criminal act negate the crash coverage?

If the settlement comes out of the Muzzo pockets the Neville-Lakes get the money and the Muzzos get punished..... justice.

If the settlement is born by the insurers the Neville-Lakes get compensated but the Muzzos don't get punished......not as righteous an end.

How much does a billion dollar organization spend on insurance each year? Sometimes one sucks it up to get future profits.
Click to expand...

I was just going from the language of what I read. I'm sure coverage exists while the criminal activity is alleged. Presumption of innocence and all that.


Once convicted, I think it's another matter.

I could be wrong. Often am.

But also worked for a big bank and managed a department.

There is liability insurance for various employee actions. But the one exclusion is criminal activity. Being alleged activity, that is where a lot of settlements occur.

But, once convicted, I'm not so sure if the company's insurance will cover.

Might be too much American TV crime dramas seeping into my memory. Please excuse me.


Sent from my iPhone using Tapatalk
 
nakkers said:
I was just going from the language of what I read. I'm sure coverage exists while the criminal activity is alleged. Presumption of innocence and all that.


Once convicted, I think it's another matter.

I could be wrong. Often am.

But also worked for a big bank and managed a department.

There is liability insurance for various employee actions. But the one exclusion is criminal activity. Being alleged activity, that is where a lot of settlements occur.

But, once convicted, I'm not so sure if the company's insurance will cover.

Might be too much American TV crime dramas seeping into my memory. Please excuse me.


Sent from my iPhone using Tapatalk
Click to expand...

We should have the results in about 7 or 8 years.

I don't envy the Neville-Lakes. They can't be seen smiling or enjoying life until the suit is settled. Smiling shows that you weren't all that hurt. Keep that up for 7-8 years.
 
As if FB image crafting isn't hard enough now with the sour face for many moons. Some might say it's not worth it.
 
nobbie48 said:
We should have the results in about 7 or 8 years.

I don't envy the Neville-Lakes. They can't be seen smiling or enjoying life until the suit is settled. Smiling shows that you weren't all that hurt. Keep that up for 7-8 years.
Click to expand...

Nothing can ever fill the void. I can't imagine. Even if I could, it's not even close.




Sent from my iPhone using Tapatalk
Forum Sponsor
 
You must log in or register to reply here.
Back
Top Bottom