Factum (Pierringer Agreement) (Sample) (ON)

Summary

This precedent is a sample factum on a motion to approve a claims bar order pursuant to a Pierringer agreement. A Pierringer agreement allows a "settling defendant" to individually settle with the plaintiff without the need to reach a largescale settlement inclusive of all parties. In Pierringer agreements, the settling defendant does not have to actively or at all participate at trial, leaving the burden of defending the claim on the non-settling defendant exclusively. The plaintiff is entitled to the agreed upon amount from the settling defendant regardless of the outcome of trial. Pierringer agreements contain the following essential provisions: (1) the plaintiff receives some consideration from the settling defendant, in full satisfaction of the claim against the settling defendant; (2) the plaintiff agrees to discontinue or dismiss the action against the settling defendant; (3) the pleadings are amended to remove the settling defendant from the action; and (4) the plaintiff ...