In Re Imperial Credit Industries, Inc., a California corporation, Debtor

Filing 208

JUDGMENT by Judge Christina A. Snyder: The issues having been duly tried and the Court having entered its Findings of Fact and Conclusions of Law 198 , IT IS HEREBY ORDERED, ADJUDGED AND DECREED: That the Court finds in favor of Plaintiff and jointl y and severally against: defendants Santa Monica Pictures, LLC, Corona Film Finance Fund, LLC, and Perry A. Lerner on Plaintiff's first claim; and defendants Santa Monica Pictures, LLC and Perry A. Lerner on Plaintiff's second claim. Defend ants Perry A. Lerner and Santa Monica Pictures, LLC are ordered to pay damages of $15,182,976, plus prejudgment interest on (1) $212,000 from 12/15/1997, (2) $36,700 from 12/31/1997, and (3) $14,934,276 from 1/12/1998, resulting i n a prejudgment interest award of $11,409,671 and a total judgment of $26,592,647; That Plaintiff is awarded costs against Defendants, jointly and severally, as determined by the Clerk of the Court, in the amount to be determined by proper application; That Plaintiff shall recover post-judgment interest on $26,592,647, from and after 10/7/2008, at the rate of 1.69% pursuant to 28 U.S.C. Section 1961 until the judgment is satisfied. (gk) ** ORDER VACATING FINDINGS AND JUDGMENT FILED 7/10/2009 258 ** Modified on 7/10/2009 (gk).

1 IRELL & MANELLA LLP William N. Lobel (93202) ([e-mail]) 2 A. Matthew Ashley (198235) ([e-mail]) Jared R. Gale (232465) ([e-mail]) 3 840 Newport Center Drive, Suite 400 Newport Beach, California 92660-6324 4 Telephone: [phone] Facsimile: [phone] 5 Attorneys for Chapter 7 Trustee 6 Edward M. Wolkowitz 7 8 9 10 UNITED STATES DISTRICT COURT CENTRAL DISTRICT OF CALIFORNIA WESTERN DIVISION ) ) ) ) ) ) EDWARD M. WOLKOWITZ, as ) Trustee for IMPERIAL CREDIT ) INDUSTRIES, INC., a California ) corporation, ) ) Plaintiff, ) ) vs. ) ) PERRY A. LERNER, an individual; ) SANTA MONICA PICTURES, LLC, a ) Delaware limited liability company; ) CORONA FILM FINANCE FUND, ) LLC, a Delaware limited liability ) company; and DOES 1 through 40, ) inclusive, ) ) Defendants. ) ) Case No. SACV-07-777 CAS

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11 IMPERIAL CREDIT INDUSTRIES, INC., a California corporation 12 Debtor. 13 14 15 16 17 18 19 20 21 22 23 24 25

Bankruptcy Case No. SA 03-19407 ES JUDGMENT Judge: Hon. Christina A. Snyder

This action was tried to the Court on May 6-9, 15, 20-22, 27, 2008, with

26 closing arguments heard on August 11, 2008. The issues having been duly tried and 27 the Court having entered its Findings of Fact and Conclusions of Law (Docket 28 No. 198),
[PROPOSED] JUDGMENT

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IT IS HEREBY ORDERED, ADJUDGED AND DECREED: That the Court finds in favor of Plaintiff and jointly and severally against:

3 defendants Santa Monica Pictures, LLC, Corona Film Finance Fund, LLC, and 4 Perry A. Lerner on Plaintiff's first claim; and defendants Santa Monica Pictures, 5 LLC and Perry A. Lerner on Plaintiff's second claim. Defendants Perry A. Lerner 6 and Santa Monica Pictures, LLC are ordered to pay damages of $15,182,976, plus 7 prejudgment interest on 1) $212,000 from December 15, 1997, 2) $36,700 from 8 December 31, 1997, and 3) $14,934,276 from January 12, 1998, resulting in a 9 prejudgment interest award of $11,409,671 and a total judgment of $26,592,647; 10 That Plaintiff is awarded costs against Defendants, jointly and severally, as 11 determined by the Clerk of the Court, in the amount to be determined by proper 12 application; 13 That Plaintiff shall recover post-judgment interest on $26,592,647, from and 14 after October 7, 2008, at the rate of 1.69% pursuant to 28 U.S.C. §1961 until the 15 judgment is satisfied. 16 17 18 Dated: October 7, 2008 _________ 19 20 21 22 23 24 25 26 27 28
[PROPOSED] JUDGMENT

IT IS SO ORDERED.

Hon. Christina A. Snyder Judge, United States District Court

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