Metairie Towers $8.85M Insurance Proceeds Settlement

Metairie Towers Condominium Association Inc., Metairie Towers Board of Directors, GNO Property Management LLC, Strategic Claims Consultants LLC, The Burlington Insurance Co., Colony Insurance Co., Federal Insurance Co., Greenwich Insurance Co., Old Republic Insurance Co., ACE Property and Casualty Insurance Co., Harco National Insurance Co., International Fidelity Insurance Co.

Individuals who owned a condominium at Metairie Towers Condominium complex at 401 Metairie Road, Metairie, Louisiana, continuously from Aug. 29, 2021, through April 21, 2023, or who purchased a unit after Aug. 29, 2021, and owned it until April 21, 2023, may qualify to claim a cash payment from an class action settlement.

Several insurance companies, property management entities and related parties agreed to pay $8,850,000 to settle a class action lawsuit alleging they mismanaged insurance proceeds recovered after Hurricane Ida and a subsequent water event in September 2021, resulting in financial harm to unit owners.

This is the second settlement in the class action lawsuit. The first settlement included Scottsdale Insurance Co., Evanston Insurance Co. and Interstate Fire & Casualty Co.

Who can file a claim?

Class members must have either:

Owned a condominium unit at Metairie Towers continuously from Aug. 29, 2021, through April 21, 2023, OR
Acquired ownership of a unit after Aug. 29, 2021, and owned it until April 21, 2023

How much can class members get?

The total settlement fund is $8,850,000. After deductions for attorneys’ fees, litigation expenses, the class representative service award and claims administration costs, the settlement administrator will distribute the remaining funds to eligible claimants who submit valid claims. The distribution is based on the number of units owned and the type of unit:

One-bedroom units: Each receives a share value of 0.42905
Two-bedroom units: Each receives a share value of 0.52968

The exact payout per unit depends on the total number of valid claims and the amount of one-bedroom and two-bedroom units class members claim. The formula for calculating each unit’s share is as follows:

Multiply the number of one-bedroom units by 0.42905
Multiply the number of two-bedroom units by 0.52968
Add these two numbers together for the total shares
Divide the net settlement fund (after deductions) by the total number of shares to determine the value of each share
Multiply the share value by the number of shares for each unit type to determine the payout per unit

How to claim a class action payment

Class members can download, print and complete the PDF claim form. They may also call plaintiffs’ class counsel to request a claim form. There is no online claim form. Class members must sign the form and take it to a notary for notarization. Then they can mail or email it to the settlement administrator.

Settlement administrator's contact information: Metairie Towers Settlement Administrator, P.O. Box 3637, Baton Rouge, LA 70821, info@MetairieTowersSettlement.com, 504-231-9513

Class members should keep a copy of their completed claim form and all supporting documents for their records. If the settlement administrator rejects their claim, it will notify them and explain the reason for rejection.

What information is required to submit a claim?

All claimants must provide the following:

A list of each unit they owned, specifying whether it is a one-bedroom or two-bedroom unit
Proof of ownership (such as a tax bill, property insurance bill, recorded bill of sale or deed, or court order)
Proof of identity (a government-issued ID, such as a driver’s license, identification card or passport)
Social Security number or tax ID for tax-reporting purposes

$8.85 million settlement fund breakdown

The $8,850,000 settlement fund includes:

Settlement administrator expenses: To be determined
Attorneys' fees: Up to $3,097,500
Attorneys' expenses: To be determined
Service award to class representative: $10,000
Payments to eligible class members: Remaining funds

Important dates

Deadline to file a claim: Nov. 10, 2025
Exclusion (opt-out) deadline: Nov. 10, 2025
Fairness hearing: Nov. 21, 2025

When is the Metairie Towers Condominium Association settlement payout date?

The settlement administrator will issue payments after it resolves any appeals and the court grants final approval of the settlement.

Why is there a class action settlement?

The class action settlement resolves claims that Metairie Towers Condominium Association, its Board, GNO Property Management, Strategic Claims Consultants and several insurers mismanaged and wasted insurance proceeds following Hurricane Ida and a subsequent water event in September 2021. The plaintiffs alleged these actions resulted in insufficient funds to repair the property and financial harm to unit owners.

The defendants deny any wrongdoing but agreed to settle to avoid further litigation and expense.