Superior Court Rules in Russo and Steele’s Favor

Russo and Steele’s contracts were enforced by Maricopa County’s Superior Court Claims against Russo and Steele to be dropped

Russo and Steele Collector Automobile Auctions announced today that as of this date, claims that were initially made against Russo and Steele have either been dismissed or dropped completely. In August 2010, Judge Burke of the Maricopa County Superior Court granted Russo and Steele’s Motion to dismiss the claims determining that the contract provisions were valid and enforceable. Separate and apart from that ruling, Essentia Insurance, who has the largest claim for damages, dropped all claims against Russo and Steele. Essentia Insurance therefore, like Russo and Steele, is only pursuing Tri-Rentals (also known as Classic Party Rentals) as responsible for its damages in the litigation. Likewise, the final litigant, Philadelphia Insurance, also dismissed its legal claims against Russo and Steele, leaving all the claimants in the pending litigation only pursuing Tri-Rentals.

After some initial pleadings and court hearings, the Russo and Steele litigation case against Tri-Rentals, is now underway in the discovery phase with the parties having filed their initial disclosure statements under Arizona law, which outlines their respective legal positions, witnesses and damages. At this time, it is too early to predict when the Court will set a trial date, or whether the matter will be resolved in some fashion prior to trial.