Opinion ID: 1405990
Heading Depth: 3
Heading Rank: 1

Heading: Enterprise's assets will be preserved.

Text: Enterprise does not dispute that it has $20.5 million of liability insurance coverage. Enterprise argues, however, that despite such coverage, its assets may be threatened because, if the stay of Webster's action is lifted, other parties who have initiated actions arising out of the 1982 shootings will be allowed to proceed with their actions, and cumulative judgments in excess of the total insurance coverage are possible. Enterprise speculates that the excess would have to be paid out of Enterprise's assets to the prejudice of other claimants. The answer to Enterprise's concern is simple. We hold that Webster must be allowed to maintain his civil damages action if he notifies the court supervising the insolvency that he unequivocally elects to recover payment of any judgment against Enterprise only from its insurers and that he shall not under any circumstances seek to recover from Enterprise's assets. Any other claimant wishing to maintain an action for damages must elect likewise. Such elections will negate the possibility of judgments that might affect Enterprise's assets, even if the total amount of all judgments exceeds the limit of Enterprise's insurance coverage. [9] We emphasize that Webster and the other personal injury plaintiffs must make a binding election before being allowed to proceed with their pending civil actions. Each plaintiff must choose either: (1) to participate in the statutory claims proceeding under the Insurance Code, or (2) to seek recovery in an ordinary civil damages action. (11) (See fn. 10.) A plaintiff cannot seek to recover in one forum and then, if displeased with the result, seek to recover in the other forum. [10]