$556,500 in Motorcycle Collision for Precedent-Setting Monthly Payout for Case Adjournment
- Date: Spring 1996
- Attorney: Ronald Goldfaden
- Settlement: $556,500
- Practice Areas: Motorcycle Accident
When lawyers for NJ Bell wanted to adjourn the personal injury lawsuit against them set for trial in December 1995, Essex County Judge Carol Ferentz agreed – but with a precedent-setting caveat: NJ Bell would have to pay the plaintiff, $1,000 for every month the trial was postponed.
The man’s advance payments of $13,000 would be deducted from the settlement, but without interest penalties. If the case had gone to trial and the plaintiff had lost the suit, he would not have had to repay the money. It was a win-win situation for the injured man. There was a strong case against the NJ Bell driver because a witness saw him go through a stop sign without stopping.
The $556,000 settlement will be paid in part with a $235,000 annuity, which will bring the settlement value to $1 million.