Opinion
No. 01 C 2499
February 14, 2002
MEMORANDUM OPINION AND ORDER
Defendant Yetter Manufacturing Co. (Yetter) seeks a good faith finding with respect to its settlement with plaintiff and dismissal of all claims against it. That motion is granted.
The settlement has a present value of $1,400,000. The plaintiff and Yetter represent that Yetter does not maintain a financial interest in the litigation, and we, having reviewed the proposed settlement agreement, agree. That agreement is an unconditional promise to pay, through a structured settlement, amounts having a present value of $1,400,000. There is nothing to suggest that the settlement is unreasonable, much less that it is the result of any fraud or collusion.
Accordingly, it is ordered that
1. this court finds that the settlement agreement between Vetter and plaintiff Justin Haddix was made in good faith in accordance with 750 ILCS 200/0.0L et seq.;
2. all claims pending against Yetter in plaintiff's complaint are hereby dismissed with prejudice, and without costs;
3. all claims sounding in contribution currently pending against Yetter by any party to the above-referenced litigation are hereby dismissed with prejudice, and without costs; and
4. all claims sounding in contribution by any party against Yetter with respect to the subject matter set forth in plaintiff's complaint be and hereby are forever barred.
There being no just reason to delay enforcement of, or appeal from, this order of dismissal and good faith finding, the motion of defendant Yetter Manufacturing Company is granted.