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South Bend Redevelopment Commission <br />Regular Meeting –November 6, 2009 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />C. Airport Economic Development Area <br /> <br />(3) continued… <br /> <br />Leone feels fairly comfortable that it is not <br />an open-ended commitment with respect to <br />the engagement of McGuire, Craddock & <br />Strother. <br /> <br />Mr. Downes asked what our expectation was <br />of a settlement amount. Mr. Leone noted <br />that the case against historic insurance <br />policies was a case that made it to the Indiana <br />Supreme Court about a year ago. It <br />established our right to collect under some of <br />these historic policies. We are now back in <br />the negotiation phase, dealing with several <br />insurers that issued policies covering <br />Studebaker. The case here is with Cooper <br />Industries, determined to be a successor to <br />the Studebaker Corporation. Mr. Leone <br />believes the recovery will be six or seven <br />figures. <br /> <br />CE <br />Upon a motion by Mr. Downes, seconded by <br />OMMISSION APPROVED THE NGAGEMENT <br />LMG,C& <br />ETTER FROM CUIRE RADDOCK <br />Mr. King and unanimously carried, the <br />S,P.C. <br />TROTHER TO SERVE A LOCAL COUNSEL IN <br />Commission approved the Engagement <br />OP <br />CONNECTION WITH THE FORMER LIVER LOW <br />Letter from McGuire, Craddock & Strother, <br />WSB’ <br />ORKS PROPERTY AND OUTH ENDS EFFORTS <br />P.C. to serve a local counsel in connection <br />TICU <br />TO REACH A SETTLEMENT WITH NITED FOR <br />with the former Oliver Plow Works property <br />ENVIRONMENTAL CONDITIONS AT THAT <br />. <br />PROPERTY <br />and South Bend’s efforts to reach a <br />settlement with TIC United for <br />environmental conditions at that property. <br /> <br /> <br />D. West Washington-Chapin Development Area <br /> <br /> <br /> <br />There was no business in the West Washington- <br />Chapin Development Area. <br /> <br /> <br /> 12 <br /> <br />