Harold L Bostick v. Atlantic Mutual Insurance Company et al

Filing 369

JUDGMENT by Judge Valerie Baker Fairbank in favor of Plaintiff Leon Bostick and against Defendant Atlantic Mutual Insurance Company in the amount of $9,821,719.00, plus costs of $___. Interest shall accrue at the legal rate from 11/19/2008. (MD JS-6, Case Terminated). (jp)

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Steven C. Smith, Esq., SBN 116246 William D. Chapman, Esq., SBN 100535 Robert J. Hadlock, Esq., SBN 174522 SMITH, CHAPMAN & CAMPBELL A Professional Law Corporation 1800 North Broadway, Suite 200 Santa Ana, CA 92706 Tel: [phone] / Fax: [phone] Attorneys for HAROLD L. BOSTICK, Plaintiff UNITED STATES DISTRICT COURT CENTRAL DISTRICT OF CALIFORNIA ­ LOS ANGELES ) ) ) Plaintiff, ) vs. ) ATLANTIC MUTUAL INSURANCE ) COMPANY, ) ) Defendant. ) ) HAROLD L. BOSTICK,

JS-6

Case No. 2:04 CV-9210 VBF (PLAx) Honorable Valerie Baker Fairbank Courtroom 9 JUDGMENT Complaint Filed: 9/1/04 Trial Date: 11/5/08

This action came regularly for trial on November 5, 2008, in Courtroom 9 of the Central District of California, Los Angeles, United States District Court, the Honorable Valerie Baker Fairbank, Judge presiding; the Plaintiff Harold Leon Bostick appearing by attorneys Steven C. Smith and William D. Chapman of Smith, Chapman & Campbell, Plaintiff Flex Equipment Company, Inc. appearing by attorney James Kristy, of The Law Offices of James Kristy, Defendant Atlantic Mutual Insurance Company appearing by attorneys Gary Selvin and Curtis Ogilvie of Selvin Wraith Halman LLP. A jury of nine was regularly impaneled and sworn. Witnesses were sworn and testified. With respect to the Bostick case (CV04-9210), the trial was bifurcated with respect to liability and damages. After hearing the evidence and arguments of counsel, the jury was duly instructed by the Court and the cause was submitted to the jury with directions to return a verdict on special issues on the liability phase. The jury
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deliberated and thereafter returned into court with its verdict which consisted of the special issues submitted to the jury and the answers given thereto by the jury, which was in words and figures as follows, to wit: We, the jury in the above-entitled action, find the following Special Verdict on the questions submitted to us: Question No. 1: Did Atlantic Mutual Insurance Company breach the duty of good faith and fair dealing it owed to Flex Equipment Company, Inc.? Answer "yes" or "no." Answer: Yes. After the verdict was returned, evidence was heard on the issue of damages. The Court granted a Rule 50 Motion for Judgment as a Matter of Law against Bostick on the limited issue of attorneys' fees on the bad faith claim. The Court also ruled that any credit to which Atlantic Mutual was entitled for payments made to Bostick would be reduced from the interest, not the principal. Bostick and Atlantic Mutual agreed, in consideration of the Court's rulings, the excess verdict with interest, and applying all credits, totaled $9,821,719 (the "excess verdict"). The parties further agreed that there were no further issues of fact, that the matter need not be submitted to the jury, and that judgment could enter forthwith in the amount of the excess verdict. IT IS JUDGED, AND DECREED: That judgment should be entered in favor of Plaintiff Leon Bostick and against Atlantic Mutual Insurance Company in the amount of $9,821,719.00, plus costs of $______________. Interest shall accrue at the legal rate from November 19, 2008.

DATED: December 1, 2008

_______________________________ Honorable Valerie Baker Fairbank Judge of the United States District Court

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