Adam Leitman Bailey, P.C. represented a condo board suing a contractor in Supreme Court for substandard work on the building exterior. Because the contractor had hired uninsured subcontractors, the only insurance coverage amount was $50,000 of which $40,000 had been paid out to individual unit owners for damage to their homes, leaving $10,000 in coverage. Because of factors including the insurer’s uncertainty of success in their disclaimer of further coverage, the interest which had accrued, the expense of proceeding, the carrier’s perception of the expertise of Adam Leitman Bailey, P.C.’s trial counsel, and the complete trial preparation done by Adam Leitman Bailey, P.C., the carrier settled the case for $150,000, fifteen times their coverage limit.
Adam Leitman Bailey, P.C. was represented by Partner Colin E. Kaufman.