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On April 14, 1993, the State court reduced the February 2,
1993, judgment against LPCF by $100,000 to account for the
settlement with Pendleton Hospital. Thus, judgment for
petitioners totaled $400,000, plus interest.
LPCF appealed the State court judgment. On July 14, 1994,
the Louisiana Court of Appeal for the Fourth Circuit affirmed the
judgment.
B. The Settlement
Petitioners and LPCF settled the case for $839,000 in August
1994. On August 16, 1994, LPCF paid $839,000 to petitioners and
their attorneys. LPCF noted on the check that $400,000 of the
payment was for general damages and $439,000 was for interest.
LPCF calculated interest and attached the calculation to the
check.
The State court approved the compromise and settlement of
the lawsuit on August 19, 1994. On that date, the State court
granted a joint motion filed by petitioners and LPCF to dismiss
petitioners’ case with prejudice. On August 23, 1994,
petitioners signed a Receipt, Release, and Compromise Agreement
with Indemnity (RRC agreement), in which they acknowledged
receipt of $839,000 from LPCF and released LPCF from any further
liability. The RRC agreement provides that LPCF was released:
from any and all rights, claims, demands, causes of
action, damages (including but not limited to general
and special damages), liabilities, penalties, interest,
attorneys’ fees, claims for past and future medical
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