The North Carolina Supreme Court recently weighed in on the open question of the economic loss rule, and its application to commercial litigation. The Supreme Court, in Crescent Univ. City Venture, LLC v. Trussway Mfg., Inc., 376 N.C. 54, 852 S.E.2d 98 (2020), upheld a ruling in Judge Louis Bledsoe of the North Carolina Business Court, and held that in commercial contexts, the economic loss rule bars tort claims against lower-tier subcontractors and suppliers, even in the absence of privity. This decision has major ramifications for commercial construction litigation, commercial insurance coverage, and commercial litigation generally in North Carolina. In this virtual roundtable, we will provide an overview of the opinion before discussing the ramifications of Crescent City and the practical considerations for commercial, construction, and insurance coverage litigation in North Carolina with panelists:
Erik Rosenwood, Mecklenburg County Bar, Rosenwood, Rose & Litwak
Sophia Blair, Wake County Bar and former clerk to Judge Louis Bledsoe, Wyrick Robbins
Jon Carroll, Mecklenburg County Bar, James, McElroy & Diehl
Chris Campbell, Mecklenburg County Bar, McAngus Gouledock and Currie
Rebecca Knudson, New Hanover County Bar, Cranfill Sumner
Ryan Arnold, Mecklenburg County Bar, Rosenwood, Rose & Litwak
The views and opinions of MCB CLEs are not necessarily those of the 26th Judicial District Bar.
Cosmetic Changes Approved by Executive Committee April 23, 2015
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