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AIX SPECIALTY INSURANCE COMPANY v. BIRD BRAIN, INC., 1:13-CV-242-MR-DLH. (2014)

Court: District Court, W.D. North Carolina Number: infdco20150105567 Visitors: 10
Filed: Nov. 05, 2014
Latest Update: Nov. 05, 2014
Summary: CONSENT JUDGMENT MARTIN REIDINGER, District Judge. Plaintiff AIX Specialty Insurance Company ("AIX") and defendant Wal-Mart Stores East, LP ("Wal-Mart"), through counsel, and defendant Bird Brain, Inc. ("Bird Brain"), through its former Chief Executive Officer, hereby stipulate, consent and agree as follows: 1. The AIX policy of insurance (Policy No. IPZ-CL-0020107-0) issued to Bird Brain for the policy period December 6, 2011 to December 6, 2012 is hereby reformed to conform with AIX's and
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CONSENT JUDGMENT

MARTIN REIDINGER, District Judge.

Plaintiff AIX Specialty Insurance Company ("AIX") and defendant Wal-Mart Stores East, LP ("Wal-Mart"), through counsel, and defendant Bird Brain, Inc. ("Bird Brain"), through its former Chief Executive Officer, hereby stipulate, consent and agree as follows:

1. The AIX policy of insurance (Policy No. IPZ-CL-0020107-0) issued to Bird Brain for the policy period December 6, 2011 to December 6, 2012 is hereby reformed to conform with AIX's and Bird Brain's mutual intent at the time the policy was issued, that it provides no insurance coverage for any claims or lawsuits arising out of Bird Brain's pourable fuel gel firepot products, including pourable fuel gel and firepots that burned pourable fuel gel.

2. The AIX policy of insurance (Policy No. IPZ-CL-0020107-0) issued to Bird Brain for the policy period December 6, 2011 to December 6, 2012 is hereby rescinded and declared void ab initio.

3. The AIX policy of insurance (Policy No. IPZ-CL-0020107-0) issued to Bird Brain for the policy period December 6, 2011 to December 6, 2012 provides no coverage to any person or entity in connection with the underlying action, captioned: Sandra Pressley and Dean Pressley v. Bird Brain, Inc. and Wal-Mart Stores East, L.P. and Wal-Mart Stores East, L.P. v. Susie W. Gibson (Case No. 1:13-cv-60-MR-DLH) (the "underlying action").

4. Bird Brain hereby waives its right to reimbursement of the policy premium and AIX hereby dismisses with prejudice Count IV of its Complaint and waives its right to seek reimbursement from Bird Brain of defense costs incurred in connection with the underlying action.

5. Wal-Mart hereby dismisses with prejudice Count III of its counterclaim against AIX.

6. This Consent Judgment resolves the last remaining claim and constitutes a final order.

IT IS SO ORDERED

Source:  Leagle

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