Tag Archives: Marc Zimet

A city saved

As a 16-year civil defense attorney, there is no question in my mind that the settlement with Macpherson is exceptional for Hermosa. We now face, at most, $17.5 million in exposure. For 14 years, we faced potential exposure of $750 million, and the lawsuit hung over our city like a black cloud.

Hermosa faced bankruptcy; it no longer does. The chance of losing at trial was significant and there would be no escaping a significant judgment against Hermosa.

Bankruptcy would curtail the city and its residents from deciding many issues concerning city governance because a bankruptcy trustee would be intimately involved with all such decisions after liquidating some of the city’s assets. … Continue reading →