All claims asserted by Horizon against Underwriters and all claims asserted by Underwriters against Horizon and Weisbrod Matteis & Copley are to be dismissed.
Horizon Tire Inc. and Weisbrod Matteis & Copley PLLC are pleased to announce that Horizon has settled all insurance coverage disputes with Certain Underwriters at Lloyd’s of London arising from Horizon’s defense of litigation brought against Horizon by Linglong Americas and affiliates. Under the settlement between Horizon and Underwriters, Underwriters will pay over ninety percent of the amounts demanded by Horizon for its defense costs. All claims asserted by Horizon against Underwriters and all claims asserted by Underwriters against Horizon and Weisbrod Matteis & Copley are to be dismissed. Underwriters also are withdrawing and retracting their fraud allegations against Horizon and are withdrawing their claim for recoupment of amounts previously paid to Horizon. (The litigation between Horizon and Linglong settled in 2019.)
Christina Wang, the Chief Financial Officer of Horizon, stated: “Horizon is in the tire business, not the lawsuit business, so we are very happy to put the last pieces of this litigation behind us after years of fighting.” She added, “We are extremely grateful for the fantastic job that Weisbrod Matteis & Copley did for us both in our case with Linglong and our insurance coverage disputes with Underwriters.”
Weisbrod Matteis & Copley’s Shelli Calland, who served as co-lead counsel with Stephen Weisbrod on behalf of Horizon in its arbitration against Underwriters, stated: “After years of arbitration and litigation against Underwriters and after two-and-a-half weeks of arbitration testimony, this is a terrific result for a terrific and deserving client.”
For further information or an interview about this case, please contact Stephen Weisbrod at sweisbrod@wmclaw.com.
About WMC
Weisbrod Matteis & Copley represents a wide array of plaintiffs in insurance recovery and other matters. The firm’s clients include large private equity firms, Fortune 500 companies, the Attorney General of Mississippi, and more than 1,000 businesses and homeowners whose properties suffered flood damage from hurricanes and other disasters. WMC has offices in Washington, Ft. Lauderdale, Jackson, and San Juan. For more information, please visit us online at www.wmclaw.com.
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