KEN KIRSCHENBAUM, ESQ ALARM - SECURITY INDUSTRY LEGAL EMAIL NEWSLETTER / THE ALARM EXCHANGE You can read all of our articles on our website. Having trouble getting our emails? Change your spam controls and whitelist ken@kirschenbaumesq.com ****************************** Comments on the Champlain Towers webinar / Register now for due diligence webinar September 3, 2022 ************************** Comments on the Champlain Towers webinar on July 26, 2022 ************************** Ken: During the Champlain Tower Collapse webinar Matt Haiman, Owner of Premier Alarm system told us that he had attempted to retrieve the CPU from the Notifier Fire Alarm Control Panel prior to the remainder of the building being demolished. Based on all indications presented during the Webinar it appears that the fire alarm system performed flawlessly (except for one manual station failure) since Premier Alarm Systems upgraded the system. My humble logic suggests that there was no problem with the fire alarm system or its operation. The trouble signal that the Central Station received a few seconds prior to the alarm is indicative of a sprinkler system pressure drop that occurs when a sprinkler head opens or there is some other release of water that allows the system pressure to drop. That pressure drop subsequently creates a trouble signal on the fire alarm control unit. The ALARM signal that follows is triggered by the further loss of sprinkler system pressure that allows the alarm check valve to operate (open) and simultaneously cause a full-fledged fire alarm signal to the fire alarm system. The trouble signal and fire alarm signal a few seconds later is a normal sequence of events. To me this is evidence that the fire alarm system performed exactly as it should. I suggest that if Mr. Haiman had been able to retrieve the CPU he would have verifiable evidence that there was absolutely no failure or fault in the fire alarm system. That evidence coupled with a satisfactory required annual inspection and one or two years of fault free operation may have been sufficient to keep his company out of any liability. Would there be any opportunity for Premier Alarm to subrogate to their insurer the right to sue the person (or organization) that denied Premier Alarm the ability to retrieve the CPU to recover what the insurer paid out? Seems to make sense to me! By the way, the webinar has been published on Youtube. Here is a link to that video: https://youtu.be/pVbhZFDj8tc Dave Currie ************************ Response ************************ The webinar is also on the K&K website [along with our other webinars] at https://www.kirschenbaumesq.com/page/alarm-webinars I think that Matt Haiman was very convincing that Premier Alarm Systems was not negligent; in fact did everything right. The fire alarm worked exactly as it was designed to perform. Furthermore, and perhaps more importantly, the fire alarm was designed, installed and performed exactly was required and approved by the AHJ. It is fairly obvious that all of the insurance companies decided that for policy reasons, not necessarily legal reasons, they would all contribute their policy limits. The settlement certainly ended what would have been years and years for contentious litigation with plenty of finger pointing. I am sure that all parties involved have moved on. ************************ Registration for Sept 13, 2022 webinar on performing due diligence ********************** We’ve all heard the terminology, due diligence, in connection with a transaction to buy alarm accounts, but what due diligence actually consists of and how you get it done is not as familiar to everyone. In fact, due diligence can run the gamut from a cursory review of records to a comprehensive analysis that comes close to [and sometimes exceeds] a forensic financial audit. Who you can and should engage for due diligence can also be an elusive choice. Jim Wooster, Jr., of AFS [Alarm Financial Services], a lender to the alarm industry collateralized by alarm accounts, is opening a new service to perform Due Diligence. I asked Jim to do a webinar to introduce his new Due Diligence service and it will be presented on September 13, 2022 at noon ET. See you then. ****** Webinar: Due Diligence in alarm industry on buy-sell or loan transaction When: September 13, 2022 12PM ET Topic: Due diligence; what it means, what it involves, how it's performed and who you can get to do it Presented by: Jim Wooster, Jr., President of Alarm Financial Services, Inc Hosted by: Ken Kirschenbaum,Esq Who should attend: Alarm company owners, CFO, buyers and sellers Register: https://attendee.gotowebinar.com/register/7167573789756862478 ******************* To order up to date Standard Form Alarm / Security / Fire and related Agreements click here: www.alarmcontracts.com *************************** To order up to date Standard Form Alarm / Security / Fire and related Agreements click here: www.alarmcontracts.com *************************** CONCIERGE LAWYER SERVICE PROGRAM FOR THE ALARM INDUSTRY - You can check out the program and sign up here: https://www.kirschenbaumesq.com/page/concierge or contact our Program Coordinator Stacy Spector, Esq at 516 747 6700 x 304. *********************** ALARM ARTICLES: You can always read our Articles on our website at ww.kirschenbaumesq.com/page/alarm-articles updated daily ******************** THE ALARM EXCHANGE - the alarm industries leading classified and business exchange - updated daily ************************* Wondering how much your alarm company is worth? Click here: https://www.kirschenbaumesq.com/page/what-is-my-alarm-company-worth ****************************** Getting on our Email List / Email Articles archived: Many of you are forwarding these emails to friends or asking that others be added to the list. Sign up for our daily newsletter here: Sign Up. You can read articles and order alarm contracts on our web site www.alarmcontracts.com ************************** Ken Kirschenbaum,Esq Kirschenbaum & Kirschenbaum PC Attorneys at Law 200 Garden City Plaza Garden City, NY 11530 516 747 6700 x 301 ken@kirschenbaumesq.com www.KirschenbaumEsq.com
