The Universal Studios Fire Insurance out of Court Settlement
I counter your counter claim and will get straight to the point. Now you claim $25M in damages which is more in line with a fair fire insurance claim. I accept your claim with conditions.
First of all, like all fire insurance claims there must be a deductible of 20% which brings your claim down to $20M. Because the property was totally destroyed to rubble we have to assume that you’ll had a certain degree of negligence. Therefore I say it was an 80% to 20% liability. Meaning Universal Studios loses are an additional 20% for you liability for this fire and therefore your claim come’s out to a $16M payment in out of court settlement.
Furthermore I will add $1M making the payment $17M to the settlement to be used for full tour support for Janet’s Rock Wit Chu Tour. I want the tour to go to Europe if that is what she wants.
Finally, once this tour is finished Janet is out of Def Jam and into Live Nation and I have a Template as to how I want this contract drawn.
You Universal gets $16M out of court settlement after all deductions, Janet get full tour support and is released from Def Jam to go to Live Nation, Warner Music Group, MTV, and Parmount Pictures, in a complex multi-corporate agreement. I think everyone wins some and loses some. Basically Universal Studios recovers about 64% of the damages caused by that fire based on their books. Marsh Insurance Brokers name remains good for making this settlement and Janet is happy. I will research to find out your response to this offer.
Frank Paul Gambino
I counter your counter claim and will get straight to the point. Now you claim $25M in damages which is more in line with a fair fire insurance claim. I accept your claim with conditions.
First of all, like all fire insurance claims there must be a deductible of 20% which brings your claim down to $20M. Because the property was totally destroyed to rubble we have to assume that you’ll had a certain degree of negligence. Therefore I say it was an 80% to 20% liability. Meaning Universal Studios loses are an additional 20% for you liability for this fire and therefore your claim come’s out to a $16M payment in out of court settlement.
Furthermore I will add $1M making the payment $17M to the settlement to be used for full tour support for Janet’s Rock Wit Chu Tour. I want the tour to go to Europe if that is what she wants.
Finally, once this tour is finished Janet is out of Def Jam and into Live Nation and I have a Template as to how I want this contract drawn.
You Universal gets $16M out of court settlement after all deductions, Janet get full tour support and is released from Def Jam to go to Live Nation, Warner Music Group, MTV, and Parmount Pictures, in a complex multi-corporate agreement. I think everyone wins some and loses some. Basically Universal Studios recovers about 64% of the damages caused by that fire based on their books. Marsh Insurance Brokers name remains good for making this settlement and Janet is happy. I will research to find out your response to this offer.
Frank Paul Gambino
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