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Just goes to show anyone even thinking of getting any sort of compensation when involved in a NYC taxi accident had better think again. This happens all the time; you can sue the medallion owner all you want, but they are hidden behind LLCs and thus you won't get much more than a standard liability insurance payout, if that.
The British government advises all tourists to get hefty travel insurance for this reason...I wonder how an American would be treated if hit by a London medallion taxi. Probably better than this...
I would not settle for 150k, it is a pittance and there is no point. I would sue the city itself. Either $10M or nothing.
But I'd sue for big money and push to take it to court. Even if they have only 100K in insurance. I'd get a bigger verdict, then go after the medallion itself. Even with the decreased valuations, they're still worth about $250K. So get the 100K in insurance, then seize and sell the tin.
Quote:
Originally Posted by WithDisp
She should sue the city for issuing the Medallion.
They will settle out of court for 1.2 million without batting an eye.
Double that if she's a PoC.
Triple if she's TRANS.
Not worth nearly what they once were, but you must have some pretty pricey dog poop in your 'hood. To win in a court case, it would be a nice income stream.
Quote:
Originally Posted by Mr. Ryu
A cab medallion is worth dog poo.
I always get travel insurance even if i travel within the USA. You never know if your medical insurance works in that state.
Not worth nearly what they once were, but you must have some pretty pricey dog poop in your 'hood. To win in a court case, it would be a nice income stream.
The problem is that the cost of taking the case to trial would be big. And when all is said and done the corporation will simply go bankrupt and you get $350 K with half eaten by legal costs. so even if the trial leads to a 2 million decision there is no way to collect.
The sensible solution is every cab should have to a couple of million of liability insurance. Same with Lyft and Uber.
Fail to see how you sue NYC. There is no indication of any negligence on their part.
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