Consolidated Edison Co. of New York, Inc. v. Fyn Paint & Lacquer Co.
Docket: No. 08-1998-cv
Court: Court of Appeals for the Second Circuit; June 16, 2009; Federal Appellate Court
Consolidated Edison Company of New York, Inc. (Con Edison) appeals a judgment from the United States District Court for the Eastern District of New York enforcing a settlement agreement with Fyn Paint, Lacquer Co., Inc., and William Feinstein. The case involved claims under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) and New York State law related to soil contamination at adjacent properties in Williamsburg, Brooklyn. The district court issued a "settlement judgment" to uphold the agreement, allowing the court to implement but not modify the settlement terms. Con Edison contended that the settlement was unenforceable due to defendants' failure to update their financial disclosure after receiving a down payment for property nearly four years post-settlement conference. However, the district court found that Con Edison waived its right to an updated financial statement during multiple court appearances. Despite raising the issue of updated financials at a March 2007 hearing, Con Edison accepted the financial affidavit reviewed in May 2003 without reserving any rights. The court pointed out that Con Edison could not complain about defendants' financial status after the settlement, and Con Edison did not raise the updated affidavit issue again until opposing a proposed settlement order. The district court concluded that Con Edison had waived its right to demand updated financial disclosure, leading to the affirmation of the judgment.