Wesbster Business Credit Corp v. Bradley Lumber Company et al

Filing 88

JUDGMENT granting 78 MOTION for Partial Summary Judgment of ADFA; in favor of Arkansas Development Finance Authority against Bradley Lumber Company; as of December 4, 2008, Bradley Lumber owes the principal amount of $1,000,000.00, with accrue d interest in the amount of $26,909.36, for a total of $1,026,909.36 with interest continuing to accrue daily in the amount of $174.74 until paid in full, plus attorneys fees, costs and expenses incurredand to be incurred by ADFA. ADFA is directed to supply the Court with the Decree of Foreclosure. Signed by Honorable Harry F. Barnes on March 23, 2010. (cnn)

IN THE UNITED STATES DISTRICT COURT WESTERN DISTRICT OF ARKANSAS EL DORADO DIVISION WEBSTER BUSINESS CREDIT CORPORATION V S. CASE NO. 08-CV-1083 DEFENDANTS INTERVENOR PLAINTIFF INTERVENOR PLAINTIFF JU D G M E N T Before the Court is a Motion for Partial Summary Judgment filed by Arkansas Development Finance Authority ("ADFA"). (Doc. 78). ADFA moves the Court for entry of an order that will permit certain mortgaged property to be sold at a foreclosure sale. Further, ADFA moves for the entry of an order that establishes Bradley Lumber Company's liability to pay certain indebtedness arising under a promissory note. No parties have filed a response in opposition to ADFA's motion for partial summary judgment, and the time for response has passed. For the reasons discussed in the Memorandum Opinion of even date, the Court finds that Plaintiff's partial motion for summary judgment (Doc. 78) should be and hereby is GRANTED. The Court further finds that, as of December 4, 2008, Bradley Lumber owes the principal amount of $1,000,000.00, with accrued interest in the amount of $26,909.36, for a total of $1,026,909.36 with interest continuing to accrue daily in the amount of $174.74 until paid in full, plus attorney's fees, costs and expenses incurred and to be incurred by ADFA. ADFA is directed to supply the Court with the Decree of Foreclosure to be entered in this matter. IT IS SO ORDERED, this 23rd day of March, 2010. /s/ Harry F. Barnes Hon. Harry F. Barnes United States District Judge

PLAINTIFF

BRADLEY LUMBER COMPANY, et al. ARKANSAS DEVELOPMENT FINANCE AUTHORITY PARKWAY BANK