"As 30th Anniversary Approaches, Time to Revisit Articles 50-A and 50-B," New York Law Journal September 9, 2014
“If you have ever been involved in a personal injury trial that resulted in a verdict containing a future damages award in excess of $250,000, then you are all too familiar with the complexities of CPLR Articles 50-A and 50-B,” writes Dennis P. Glascott, a partner in Goldberg Segalla’s General Liability and Product Liability Practice Groups, and Lisa M. Diaz-Ordaz, formerly an associate with the firm and now field counsel for Liberty Mutual Insurance.
Enacted in the mid-80s as a result of the tort reform movement, the statutes from New York’s Civil Practice Laws and Rules “radically changed the way that future damages verdicts are calculated and paid out to personal injury plaintiffs. Rather than being paid in one lump sum, the statutes mandate that future damages be paid in periodic payments.”
In this article, Dennis and Lisa review the history of these statutes, including their stated legislative purpose and practical shortcomings, in the hope that the Legislature might revise or perhaps do away with them.
“While the amendments to Article 50-A are not perfect, they did help to alleviate some of the pain involved in calculating large future damages awards in medical malpractice actions. … Article 50-B has been frustrating plaintiffs, defendants, and judges alike for 28 long years. Our recommendation is that given all the confusion and complexities, it is time to do away with Article 50-A and 50-B altogether. Hopefully changes are on the horizon.”
Read the article here:
- Dennis P. Glascott and Lisa M. Diaz-Ordaz, “As 30th Anniversary Approaches, Time to Revisit Articles 50-A and 50-B,” New York Law Journal, September 9, 2014