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.
Other attorneys who assisted included Albert Cohen. Virginia Briseno also provided support during the trial.
The settlement team included Ray Sanseverino, Lance Jurich, John Arao and Joseph Heffernan.
About Loeb & Loeb LLP: Loeb & Loeb LLP is a multi-service national law firm with more than 300 attorneys focusing on select core industries and practice areas, rather than endeavoring to be all things to all clients, and is recognized as a leading law firm in the areas of corporate and securities matters; litigation; entertainment and media law; finance; real estate; intellectual property; private equity; employment; advertising and promotions and tax and wealth services. The firm represents multi-national, Fortune 100 companies in their mid-market transactions and litigation matters, and serves as primary outside counsel to a multitude of mid-market clients. The firm also represents clients ranging from high tech start-ups to high net worth individuals and families. The firm has four domestic offices in Los Angeles, New York, Chicago and Nashville and an affiliation in Asia and Europe.