PODOLL & PODOLL SETTLES DIXON CLASS ACTION
A tentative settlement has been reached in the case of Dixon v. Security Life of Denver.
The settlement is subject to further review by the Court after notice reaches class members.
PODOLL & PODOLL co-counsel with the Texas lawfirm HUBBARD & BIEDERMAN, believes that the proposed settlement is fair to all parties.
Copies of the CLASS NOTICE and the STIPULATION OF SETTLEMENT can be obtained on the
Dixon Class Action page of this web site, or on the website of Hubbard & Biederman (
www.hblawfirm.com)
PODOLL & PODOLL WINS BANKING DECISION
PODOLL & PODOLL provided analysis and briefing support to the Arizona lawfirm of MARSICAL, WEEKS, McINTYRE & FRIEDLANDER, P.A. in the case of National Bank of Arizona v. Arizona Business Bank. Defendant Arizona Business Bank, sister bank of local Colorado Business Bank, was sued upon two instruments which it had dishonored for breach of presentment warranties due to an improper endorsement. However, the Plaintiff (depositary bank) invoked the "intended payee" doctrine to attempt to overcome its warranties.
PODOLL & PODOLL worked closely with MARSICAL, WEEKS to research and formulate arguments that the "intended payee" doctrine was inapplicable to a dishonored check. The Trial Court agreed and granted Defendant's motion for summary judgment. The case is on appeal.
PODOLL & PODOLL WINS BANKING DECISION
PODOLL & PODOLL defended Guaranty Bank against highly technical claims brought under the Colorado Uniform Fraudulent Transfer Act in the case of Ciccarelli v. Guaranty Bank. The plaintiff claimed that loan payments made to Guaranty Bank were fraudulently made by one of the bank's commercial borrowers after the borrower had become insolvent. Guaranty Bank as the recipient of the loan payments was sued to return the payments to another creditor of the borrower.
The Court of Appeals upheld the bank's position that it had properly received the loan payments. The Court of Appeals ruled that the loan was valid consideration for the loan payments, and that the borrower did not make fraudulent transfers by making the loan payments, even after the borrower had become insolvent.
PODOLL & PODOLL WINS MILLION DOLLAR JUDGMENT.
In March, 2002, Senior Partner Richard Podoll tried the case of Coors v. Security Life of Denver in the District Court for Jefferson County, Colorado. The case involved claims of account overcharges and bad faith in deceiving the insured after the overcharges were discovered.
PODOLL & PODOLL, P.C. set out to prove that the insurance company was contractually bound by the terms in the policy of insurance, whereas the insurance company argued that it had complied with the terms it meant to include. On behalf of Plaintiff, William Coors, Mr. Podoll argued that the insurance company acted in bad faith by attempting to cover up the overcharges by sending out a casual letter to Mr. Coors and other policyholders asking them to substitute replacement contract pages in their policy.
THE COURT agreed, and ordered the insurance company to pay to Mr. Coors the value of his overcharge, treble damages and his costs and attorneys fees. The Court found that the insurance company acted in bad faith and violated Colorado's Consumer Protection Act.
The Consumer Protection Act violation was overturned by the Court of Appeals, which also reduced some of the damages awarded by the trial court. The Colorado Supreme Court has accepted certiorari, and will review the damages recoverable by Mr. Coors.
