A “last-minute” $25.3 million partial settlement of a multi-million dollar fatal fire lawsuit was reached on April 22, 2008 in Cook County (Chicago) Circuit Court. The case stems from a 2003 fire at the Cook County Administration Building and allows seven defendants (including Cook County) to avoid a very risky civil trial that is set to begin next week. The blaze killed six and injured 16 office workers. The City of Chicago, a building contractor, and the building management company are still in the case and did not participate in the settlement.
There are 22 lawsuits pending for the injured and the dead, many of whom were trapped in a smoke-filled stairwell with self-locking doors. The lawsuits allege serious mistakes and failures by firefighters and city 911 operators.
The other settling defendants were companies that worked on building and/or fire systems designs. Negotiations continue with the remaining defendants with a trial looming next Monday.
The average person might think that a case such as this, with so much money at stake, with staunch denials of wrongdoing, and multiple plaintiffs and defendants, would not be a good candidate for lawsuit funding. While this is complicated litigation, to be sure, it is an excellent candidate for lawsuit financing for both the attorneys and the unfortunate litigants and their families.
Most multi-party litigation, especially when pursued, for serious injury and/or wrongful death, against large corporations, municipalities, and billion dollar insurance companies, is extremely expensive and time-consuming. Lawsuit financing is available to assist “David” law firms in fighting these “Goliath” companies. Cost of litigation lawsuit funding is available as a “practice” advance or on a case by case basis. In this case, for instance, if called upon, Lawsuit Financial would have acted as a funding “partner”, making certain that all financial needs for the pursuit of all victms’ rights were covered. The handling attorneys would be able pursue the case, full throttle, without the added burden of financially managing it. In addition, if a case of this magnitude became a financial burden for the practice, lawsuit funding could be available to assist in paying office overhead whille it is being pursued to its just conclusion. With a potential multi-million dollar recovery a good possibility, the handling attorney needs to be certain that he is well-funded for the battle ahead. He needs to focus on the case, not how to fund it, and that is where litigation funding can be a strong and supportive ally.
As to the litigants, this tragedy occured in 2003, almost five long years ago. People were serious injured and several lost their lives. They and their families have probably faced financial devastation. Lawsuit funding is available to assist all victims in these circumstances with necessities of life lawsuit financing. This lawsuit financial assistance is based only on the merits of the case and not on credit standing. Lawsuit Financial is institutionally funded, so case size and multiple parties do not prevent all litigants and attorneys involved from receiving the lawsuit advances they may desperately need. Repayment would occur if, and only if, recovery was made in the case.
If you have been seriously injurued, or a loved one seriously injured or killed in a tragic accident such as the Chicago high-rise fire and are in need of lawsuit financial assistance, please do not hesitate to contact us for a free analysis of your situation. If you are an attorney who needs confidential financial assistance to handle a case of this magnitude, please call on our litigation funding specialists to assist you in handling the case financing or lawfirm financing. The call and the advice are absolutely free. Call, toll free, 1-877-377-SUIT (7848) or visit us on the web at www.lawsuitfinancial.com.