Fochtman et al v. DARP, Inc. et al

Filing 171

ORDER granting 169 Motion to Stay. Signed by Honorable Timothy L. Brooks on May 18, 2020. (ee)

IN THE UNITE D STATES DISTRICT COURT
WESTERN DISTRICT OF ARKANSAS
FAYETTEVILLE DIVISION
MARK FOCHTMAN, ET AL., INDIVIDUALLY,
and on behalf of all others similarly situated
V.

PLAINTIFFS

CASE NO. 5:18-CV-5047

DARP, INC. and HENDREN PLASTICS, INC.

DEFENDANTS

ORDER
Now pending before the Court is the Defendants’ Joint Renewed Motion for Stay
of Execution and Permission to Deposit Funds into the Court’s Registry Pursuant to Local
Rule 67.1 (Doc. 169). The Motion states that Separate Defendant Hendren Plastics, Inc.
is prepared to deposit the sum of $1.7 million in the Registry of the Court to secure the
value of the entire money judgment, including estimated interest and costs, while the
matter is on appeal. Plaintiffs previously suggested that this amount would be adequate
to secure the judgment on appeal, see Doc. 166, pp. 2–3, and the Court agreed, see Doc.
168, p. 2 n.1.
Accordingly, IT IS ORDERED that the Joint Renewed Motion for Stay of Execution
and Permission to Deposit Funds (Doc. 169) is GRANTED. Hendren Plastics, Inc., is
DIRECTED to remit to the Clerk of Court for the Western District of Arkansas the sum of
$1,700,000.00 by no later than June 1, 2020. The execution of the judgment is STAYED
until that date. If the full amount of the funds is received by the Clerk by June 1, 2020,
the execution of the judgment will CONTINUE TO BE STAYED while the case is on
appeal. If the full amount of the funds is not received by the Clerk by June 1, 2020, the
STAY WILL BE LIFTED as of June 2, 2020.
The funds should be sent to the following address:

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Douglas F. Young, Clerk of Court
United States District Court for the Western District of Arkansas
30 S. 6th Street
Room 1038
Fort Smith, Arkansas 72901-2437
IT IS FURTHER ORDERED that such sum, to-wit, $1,700,000.00, shall be
deposited by the Clerk into the Registry of this Court, and then as soon as the business
of his office allows, the Clerk shall deposit the funds into an interest-bearing account
administered by the Administrative Office of the United States Courts pursuant to 28
U.S.C. § 2045, as follows:
NAME OF INSTITUTION: Court Registry Investment System (CRIS)
LENGTH OF TERM OF INVESTMENT: Indefinite
RATE OF INTEREST: Variable
The funds shall remain so deposited or invested, and the interest thereon reinvested in
the same account or instrument for a like period of time, until the Clerk advises that the
funds shall be withdrawn for disposition pursuant to further order of this Court.
IT IS FURTHER ORDERED that Hendren Plastics, Inc., serve a copy of this Order
on the Clerk of Court or upon the financial deputy.
IT IS SO ORDERED on this 18th day of May, 2020.

_/s/ Timothy L. Brooks_____________
TIMOTHY L. BROOKS
UNITED STATES DISTRICT JUDGE

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