“I hate it when businesses fold like this. Then again, it’s their money.”
Remington probably had no say in it: Remington’s insurers make the call, as it is their money.
I respectfully disagree having been through countless insurance claims
I’m sure as well the plaintiffs didn’t simply sure the insurance company
Remington has to agree that whatever insurance...if they covered this in fact...would pay and if satisfied the judgment
Most insurance policies have exemptions for things like this btw
Acts of terrorism or mass mayhem or war
I’m unaware of insurance policies that cover product liability for mass murder
But I could be wrong
In any event having liability insurance is a cushion and not complete indemnification.
I’m sure someone can dig and find out in the docs
Folks here always assume business allays every unexpected increased cost of doing business like fuel or materials or tax hikes straight to someone else like the consumer or in this case the insurance company
That is a canard.
If Remington is in bankruptcy there is a chance the bankruptcy judge and trustee will determine how and if paid and that can be changed regardless the status of judgement
Debts and loans prexisting will not be subordinated to this new judgement ...except bonds if they issued any...often bond holders get it up the wrinkled winker first in business failure