Securities, Business and Commercial Lawyers

Jury awards damages in Undersea World fire

Jury awards damages in Undersea World fire

Owners of a pet store that closed due to fire two years ago won a lawsuit to recover damages from their insurance company.

A Cuyahoga County Common Pleas Court jury awarded $320,000 to Leonard Ferrante and Wayne Francis, owners of Undersea World, 16514 Detroit Ave. The trial was conducted in front of Judge Nancy McDonnell.

Attorney Thomas C. Wagner, who represented the pet store owners, said Nationwide Insurance had offered a $71,000 settlement, based on the $43,000 they paid for the business three months prior to the July 8, 1997 fire.

“When we added up everything that was in there, the value of the property was $200,000,’ Wagner said.

He said his clients should not be penalized for getting a good deal on the business, and that they should receive what it would cost to replace the assets.

The jury agreed, awarding $190,000 for the property loss. Wagner said the additional $130,000 was paid by Nationwide Insurance to settle a second lawsuit.

“We also filed a lawsuit that they acted in bad faith and failed to settle,” Wagner said. “Both parties agreed that we would settle the whole case after the first lawsuit was decided.”

Wagner said Francis may be interested in opening another pet store, but has no definite plans to do so.

The cause of the fire, believed to have started in the basement of a convenience store, still has not been determined.

Litigation, Appeal, Arbitration or Mediation

Attorneys Roger Van Deusen and Thomas Wagner each enjoys an excellent reputation as a successful litigator and appellate advocate
 as well as a qualified and experienced arbitrator. Mr. Wagner also serves as a mediator for FINRA.

The attorneys at Van Deusen & Wagner, LLC understand that each client is unique and we will craft a legal strategy to meet your individual needs. We offer a free initial consultation as well as a variety of payment options, including a competitive hourly rate or, if appropriate, a contingent fee arrangement.

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