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PASSAIC VALLEY v. ST. PAUL FIRE.

No. 065793.

21 A.3d 1151 (2011)

206 N.J. 596

PASSAIC VALLEY SEWERAGE COMMISSIONERS, Irene G. Almeida, James Krone, Frank J. Calandriello, Jr., Dominic W. Cucciniello, Carl S. Czaplicki, Jr., Peter A. Murphy, Angelina M. Pashercia, Thomas J. Powell, Donald Tucker, Robert J. Davenport, Frank D'Ascensio, Daniel Cardellichio, Sheldon Lipke, Raymond Luchko, Daniel Becht, and Ronald W. Giaconia, Plaintiffs-Appellants, v. ST. PAUL FIRE AND MARINE INSURANCE COMPANY, Defendant, and GE Commercial Insurance f/k/a Coregis Insurance Company, Defendant-Respondent.

Supreme Court of New Jersey.

Decided June 21, 2011.

Attorney(s) appearing for the Case

Daniel R. Bevere argued the cause for appellants (Piro, Zinna, Cifelli, Paris & Genitempo, attorneys; Mr. Bevere and James M. Piro , Nutley, on the briefs).

Darcy L. Ibach , a member of the Illinois bar, argued the cause for respondent (Marshall, Dennehey, Warner, Coleman & Goggin, attorneys; Ms. Ibach and Marc R. Jones , on the briefs).

Judge CARCHMAN (temporarily assigned) delivered the opinion of the Court.

Following years of contentious litigation and after months of mediator-assisted negotiations, plaintiff Passaic Valley Sewerage Commission (PVSC)1 and Spectraserv, Inc. (Spectraserv), without a concession of fault by either party, entered into a settlement agreement providing for the transfer of assets and other consideration from PVSC to Spectraserv. Rather than...

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