Seiden Law LLP Trial Team Secures Landmark Settlement of Claims Against Large Insurance Companies, Abruptly Ending Jury Trial in New York Court

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Dec 14, 2023, 10:21 ET

NEW YORK, Dec. 14, 2023 /PRNewswire/ -- Several weeks into a high stakes jury trial that pitted Seiden Law LLP, a fast-growing Manhattan complex commercial litigation firm against nationally known Simpson Thacher & Bartlett LLP, the jury was dismissed when the parties reached a settlement.

The case stems from a long battle by Seiden Law's client BioEnergy Development Group of Memphis Tennessee against two large London insurers involving lost profits of the biodiesel plant due to delayed payments by the insurers after a catastrophic fire in 2016. Rarely have plaintiffs been successful at suing insurers for lost profits based on the insurers' bad faith. Seiden Law took the case to the goal line after replacing prior counsel midway through the case.

BioEnergy sued to recover damages based upon the insurers' alleged bad faith handling of the insurance claims. The trial was presided over by the Honorable Justice Andrew Borrok of the Commercial Division in New York State Supreme Court in Manhattan. Powerful testimony from BioEnergy CEO and founder Abhishek Agarwal and CFO Christian Schwarz, among numerous other fact and expert witnesses, had been heard by the 6-person jury before the case was settled.

Robert Seiden, Managing Partner of Seiden Law commented: "We never doubted our client's determination and the perseverance of our trial team. Our team, led by Michael Stolper, Amiad Kushner, Jake Nachmani, Jen Blecher and Ian Weiss, along with our supporting team of associates and paralegals are second to none. We fought creatively and tirelessly on every facet of the case. Our team is unbeaten in Manhattan courts fighting for justice for our clients against some of the most prestigious firms in America."

Seiden Law LLP: https://www.seidenlaw.com

SOURCE Seiden Law LLP