Settling the Score10-May-10
An article written by McLennan Ross partner, Alexis Moulton, was published in the April 2010 edition of Canadian Underwriter.
"Are Pierringer agreements and Mary Carter agreements still effective tools for minimizing litigation risk?
Parties, particularly in large, multi-party lawsuits, have always looked for tools to minimize their risk and exposure. The courts have largely accepted two such tools, Pierringer and Mary Carter Agreements, subject to certain criteria. This acceptance is based on a public policy rationale that settlements are to be encouraged.
Three recent cases from the appeal courts in British Columbia, Ontario and Alberta have brought into question the utility of these agreements." To read the full article click here