VENTURA COUNTY, CA – The victims of a 2005 landslide in La Conchita, California were informed today that La Conchita Ranch Co. will be giving them all of their assets in damages.
On August 19, after 11 weeks of trial, a Ventura County jury returned a verdict in plaintiffs' favor, finding that defendants La Conchita Ranch Co and its general partner Vista La Conchita Corporation negligently maintained their 700-acre ranch property. Loeb & Loeb LLP represented the victims and the families of victims affected by the massive landslide that killed 10 people, caused personal injuries and the destruction of numerous homes.
Just as Loeb & Loeb attorneys were about to start the second phase of trial to determine the amount of damages, it was announced that the defendants will give all of their assets to the plaintiffs. The ranch and all of its equipment will be sold by a court-appointed receiver, Thomas Seaman, by December 1, 2008; this includes the limits of their insurance policies, the La Conchita Ranch consisting of about 700 acres of avocado and lemon orchards, all equipment, bank accounts and other property. That agreement reflects the defendants’ concession that they would certainly lose all of their property if they proceeded with the damages phase of the trial.
Loeb & Loeb's principal trial team included Senior Counsel Daniel Friedman.
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