Siplast Inc. and Employers Mutual Casualty Co. notified a Texas federal court that they have resolved a dispute over whether the insurer owed coverage for a $5 million damage suit brought against the commercial roofing manufacturer.
The parties said in a joint status report filed Wednesday that they are working to finalize formal settlement documents and plan to file their dismissal papers in the next two weeks. The terms of the settlement were not disclosed.
The Archdiocese of New York sued Siplast in New York state court in October 2018 for more than $5 million in damages after the manufacturer failed to replace a leaky roof as required by its 20-year guarantee, according to court filings.
In 2011, the archdiocese hired a company to install a new roof at a high school in the Bronx. The company informed the archdiocese that the roof system it bought from Siplast was covered by a guarantee, which stated that the roof installed at the school would "remain in a watertight condition" for 20 years or Siplast would repair it at its own expense, court documents stated.
Siplast is represented by Christopher A. Thompson of Jackson Walker LLP and Steven J. Pudell and Christina Yousef of Anderson Kill PC.
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