Buyers Remorse Insufficient to Change a Settlement Agreement

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Claxton Street Apartments, LLC, appealed the order disbursing $81,727.19 in escrowed insurance proceeds to defendant, the City of Detroit, pursuant to a settlement agreement between plaintiff, the City, and defendant, Western World Insurance Company in Claxton Street Apartments, LLC v. Western World Insurance Company and City Of Detroit, No. 350507, State Of Michigan Court Of Appeals (February 18, 2021). Claxton was upset with the terms of a settlement it reached with the defendants five years before.

ZALMA OPINION

There is no good reason to sit on ones rights for 3 to five years, after the city destroys the structure the risk of loss of which was insured, before arguing against the settlement you reached.  Plaintiff simply wasted the time of the trial and appellate court and should be happy he was not sanctioned by the court.