Defendants/Cross-Complainants Balaji Ramachandran, Ashok Asokan and SoftClouds, LLC ("SoftClouds") bring this motion to contest any determination of a good faith settlement between Plaintiff Tryp Technologies, Inc. ("Tryp") and Defendant/Cross-Complainant Rudy Brathwaite/Defendant Faxon Systems LLC ("Brathwaite").
"[T]he intent and policies underlying section 877.6 require that a number of factors be taken into account including a rough approximation of plaintiffs' total recovery and the settlor's proportionate liability, the amount paid in settlement, the allocation of settlement proceeds among plaintiffs, and a recognition that a settlor should pay less in settlement than he would if he were found liable after a trial. Other relevant considerations include the financial conditions and insurance policy limits of settling defendants, as well as the existence of collusion, fraud, or tortious conduct aimed to injure the interests of nonsettling defendants. (Citation)..." Tech-Bilt, Inc.
Hearing Date
September 24, 2020
Category
Civil - Unlimited
For full print and download access, please subscribe at https://www.trellis.law/.
Defendants/Cross-Complainants Balaji Ramachandran, Ashok Asokan and SoftClouds, LLC ("SoftClouds") bring this motion to contest any determination of a good faith settlement between Plaintiff Tryp Technologies, Inc. ("Tryp") and Defendant/Cross-Complainant Rudy Brathwaite/Defendant Faxon Systems LLC ("Brathwaite").
"[T]he intent and policies underlying section 877.6 require that a number of factors be taken into account including a rough approximation of plaintiffs' total recovery and the settlor's proportionate liability, the amount paid in settlement, the allocation of settlement proceeds among plaintiffs, and a recognition that a settlor should pay less in settlement than he would if he were found liable after a trial. Other relevant considerations include the financial conditions and insurance policy limits of settling defendants, as well as the existence of collusion, fraud, or tortious conduct aimed to injure the interests of nonsettling defendants. (Citation)..." Tech-Bilt, Inc.