Title
Dept/ Agency: Law
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Purpose: Settlement of Civil Litigation
Docket No.: ESX-L-319-11
Claimant: Danny Caicedo v. Fabian Caicedo and City of Newark
Claimant's Attorney: Casey J. Woodruff, Esq.
Attorney's Address: Bramnick, Rodriguez, Grabas & Woodruff, LLC
Settlement Amount: $2,400,000.00 (to be paid in 2 payments)
Funding Source: Insurance Trust Fund
Additional Comments:
Invitation: Corporation Counsel, May 19, 2015
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WHEREAS, a suit was instituted in the New Jersey Superior Court, Essex County, Law Division, captioned Danny Caicedo v. Fabian Caicedo and the City of Newark, Docket Number: ESX-L-319-11, in which the plaintiff sought recovery for his personal injuries as a result of a motor vehicle accident; and
WHEREAS, it has been determined that plaintiff was injured and a proposal has been made to resolve this litigation by payment in the total amount of $2,400,000.00 (Two Million Four Hundred Thousand Dollars and Zero Cents); and
WHEREAS, this case was tried on April 12, 2013 and concluded on April 26, 2013, with a jury verdict against the Fabian Caicedo and the City of Newark for $3,000,000.00 million dollars for plaintiff Danny Caicedo finding plaintiff 20% liable and Defendant 80% liable for the accident; and
WHEREAS, on appeal filed by Fabian Caicedo and City of Newark, the Appellate Division rendered a published opinion on March 15, 2015, affirming the jury verdict in the amount of $3,000,000.00 and denying the relief sought by Fabian Caicedo and the City of Newark; and
WHEREAS, the plaintiff Danny Caicedo would be entitled to post judgment interest on the $3,000,000.00 jury verdict from the date of April 26, 2013 to March 15, 2015; and
WHEREAS, the Corporation Counsel based upon all facts and circumsta...
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