Respondent contends judgment reduction — not settlements alone — should dictate lien offset

Mister Waters, arguing for Old Republic, urged the Court to follow the court of appeals and the federal district court's approach to calculating the carrier's interest. He described §417.001(b) as measuring the carrier's subrogation interest by reference to the amount the court reduces the judgment for employer responsibility under Chapter 33, and he emphasized the role of the federal district court's judgment and settlement-credit analysis in the record.