The Associated Press ran a story confirming that a settlement was approved in the Port of New Orleans case last Thursday. The Associated Press correctly noted that the amount of the settlement is confidential. I am happy that the Port will be able to start on various projects. Sometimes, parties to lawsuits end as enemies. In this case, I am certain Factory Mutual is happy for the Port as well. I would not be surprised to find that Factory Mutual insures the Port again when the current policy comes up for renewal.
We worked very hard on that case, as did the attorneys representing Factory Mutual. Between us, we reviewed over six million documents. Amazing. Such work does not happen without a team, and I will report anecdotes of our team and the litigation once the final paperwork is signed, sealed and the money delivered. In honor of the resolution, my wife and I have been relaxing in Lenox, Massachusetts, this past week before heading into New York City today. I have often said that the stress of litigation makes it a young man’s game. But it certainly is a very fun, challenging, and often rewarding endeavor.