PNC Bank National Association v. Daniel Sadek et al

Filing 35

JUDGMENT by Judge James V. Selna, For good cause, default judgment in the amount of $829,874.78 is entered in favor of Plaintiff PNC and against Defendant Sadek, in personam, and the Defendant Vessel, in rem. Default Judgment in the total amount of $17,235.91 is also hereby entered in favor of Plaintiff PNC and against Defendant Sadek, in personam, and in the total amount of $847,110.69 against the Defendant Sadek, in personam.The Clerk of the Court is Ordered to enter this judgme nt forthwith. IT IS FURTHER ORDERED THAT: 1. The Defendant Vessel shall be sold free of all mortgages, liens and other encumbrances in an admiralty execution sale pursuant to Supplemental Rules for Admiralty or Maritime Claims and Asset Forfeiture Ac tions (Suppl. Rule), Rule E(9)(a) and Local Admiralty Rule E.15. The proceeds of the sale shall be paid into Court to await disbursement upon further order of the Court per Suppl. Rule E(9)(b). If the net proceeds of the Defendant Vessel's sale are less than Plaintiff PNC's judgment herein, PNC will be allowed to seek any deficiency against Defendant Sadek, in personam. 2. The sale shall commence at a time and place designated by the U.S. Marshal for the Central District of California. 3. Plaintiff PNC shall, pursuant to Local Admiralty Rule E.15(a), cause to be published for at least seven days before the date of the sale a notice of the sale of Defendant Vessel in The Orange County Reporter. (See document for further details.) (MD JS-6, Case Terminated). (rla)

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1 2 3 4 5 6 COX, WOOTTON, GRIFFIN, HANSEN & POULOS, LLP Marc T. Cefalu (SBN 203324) Max L. Kelley (SBN 205943) 190 The Embarcadero San Francisco, CA 94105 Telephone No.: 415-438-4600 Facsimile No.: 415-438-4601 JS-6 Attorneys for Plaintiff PNC BANK, NATIONAL ASSOCIATION, Successor-in-Interest to National City Bank 7 8 UNITED STATES DISTRICT COURT 9 CENTRAL DISTRICT OF CALIFORNIA 10 19 PNC BANK, NATIONAL ) Case No.: Case No.: SACV 11ASSOCIATION, Successor-in-Interest ) 1814 JVS (JPRx) to National City Bank ) ) IN ADMIRALTY ) Plaintiff, ) JUDGMENT AND ORDER ) FOR SALE OF VESSEL AND v. ) CREDIT BID ) ) Fed. R. Civ. P. 55 DANIEL SADEK, in personam; M/V ) Supp. Rules C and E NADIA, Official No. 1163334, its ) Local Admir. Rule E.15 Engines, Tackle, Machinery, Furniture, ) Apparel, Appurtenances, etc., in rem, ) and DOES 1-10. ) ) ) Defendants. ) ________________________________ ) 20 Default having been entered in this action against defendants DANIEL 11 12 13 14 15 16 17 18 21 SADEK, in personam, and M/V NADIA in rem, on May 9, 2012, a hearing 22 was held on the date and time as set forth in the record, pursuant to Federal 23 Rule of Civil Procedure 55(b)(2). 24 COX, WOOTTON, GRIFFIN, HANSEN & POULOS, LLP 190 THE EMBARCADERO SAN FRANCISCO, CA 94105 TEL: 415-438-4600 FAX: 415-438-4601 25 26 GOOD CAUSE HAVING BEEN SHOWN, IT IS HEREBY ORDERED AS FOLLOWS: 1. Plaintiff PNC is entitled to damages as alleged in the Verified 27 Complaint on file herein for Breach of Contract and Preferred Ship Mortgage 28 and for Foreclosure of the Preferred Ship Mortgage, and as set forth in its PNC.SADEK/2978 -1- Case No. SACV 11-1814 JVS (JPRx) DEFAULT JUDGMENT AND ORDER FOR SALE OF VESSEL AND CREDIT BID 1 Application for Default Judgment by Court. Damages are awarded as follows: A. 2 Breach of Contract: Default Judgment against Defendant Sadek, 3 in personam, and the Defendant Vessel, in rem, in the amount of $810,616.48, 4 the outstanding balance on May 10, 2012, due and owing on the Mortgage and 5 Security Agreement, including interest and late charges. B. 6 Attorney Fees and Costs: Default Judgment in the amount of 7 $17,235.91 is entered in favor of Plaintiff PNC and against Defendant Sadek, 8 in personam. Said fees were provided for in the Mortgage and Security 9 Agreement under which this action was brought. The amount stated above 10 represents a reasonable amount of attorney fees in this action. C. 11 Custodia Legis Expenses: Default Judgment in the amount of 12 $19,258.30 in favor of Plaintiff PNC and against Defendant Sadek, in 13 personam, and against the Defendant Vessel, in rem. Said costs include 14 custodia legis fees from the date of repossession and detention of the 15 Defendant Vessel from September 8, 2010, through May 31, 2012, by the duly 16 appointed Substitute Custodian, and costs charged to PNC by the U.S. Marshal 17 for arresting the Vessel, maintaining insurance, and publishing the notice of 18 arrest. D. 19 Sum Total of Judgment: For good cause, default judgment in 20 21 Judgment in the total amount of $17,235.91 is also hereby entered in favor of 23 Plaintiff PNC and against Defendant Sadek, in personam, and in the total 24 190 THE EMBARCADERO SAN FRANCISCO, CA 94105 TEL: 415-438-4600 FAX: 415-438-4601 Defendant Sadek, in personam, and the Defendant Vessel, in rem. Default 22 COX, WOOTTON, GRIFFIN, HANSEN & POULOS, LLP the amount of $829,874.78 is entered in favor of Plaintiff PNC and against amount of $847,110.69 against the Defendant Sadek, in personam. 25 The Clerk of the Court is Ordered to enter this judgment forthwith. 26 IT IS FURTHER ORDERED THAT: 27 1. The Defendant Vessel shall be sold free of all mortgages, liens and other 28 encumbrances in an admiralty execution sale pursuant to Supplemental Rules PNC.SADEK/2978 -2- Case No. SACV 11-1814 JVS (JPRx) DEFAULT JUDGMENT AND ORDER FOR SALE OF VESSEL AND CREDIT BID 1 2 shall be paid into Court to await disbursement upon further order of the Court 4 per Suppl. Rule E(9)(b). If the net proceeds of the Defendant Vessel’s sale are 5 less than Plaintiff PNC’s judgment herein, PNC will be allowed to seek any 6 deficiency against Defendant Sadek, in personam. 7 2. 8 Marshal for the Central District of California. 9 3. 10 be published for at least seven days before the date of the sale a notice of the 11 sale of Defendant Vessel in The Orange County Reporter. 12 4. 13 as can be placed at a reasonable cost, and the expense of such advertisements 14 will be reimbursable as an expense of sale. 15 5. 16 sale as set forth in Local Admiralty Rule E.15. 17 6. 18 credit bid on its lien on the Defendant Vessel for any and all amounts up to the 19 total judgment of $847,110.69. If the credit bid of PNC is the highest bid, 20 PNC shall not be required to make a cash deposit or a subsequent cash 21 payment into the Registry of the Court as is required for other bidders. The 22 U.S. Marshal is authorized and directed to accept such credit bids from PNC at 23 the sale of the Defendant Vessel. If a sale to PNC is confirmed for an amount 24 based only on a credit bid: (1) PNC will be allowed to seek a deficiency 25 judgment against Defendant Sadek, in personam, for any amounts remaining 26 to be owed under the Court’s judgment; (2) PNC will be responsible to pay the 27 fees, costs and commissions due to the U.S. Marshal for the arrest and sale of 28 190 THE EMBARCADERO SAN FRANCISCO, CA 94105 TEL: 415-438-4600 FAX: 415-438-4601 Rule”), Rule E(9)(a) and Local Admiralty Rule E.15. The proceeds of the sale 3 COX, WOOTTON, GRIFFIN, HANSEN & POULOS, LLP for Admiralty or Maritime Claims and Asset Forfeiture Actions (“Suppl. the Defendant Vessel; and (3) PNC will be responsible to pay any other The sale shall commence at a time and place designated by the U.S. Plaintiff PNC shall, pursuant to Local Admiralty Rule E.15(a), cause to The Court authorizes Plaintiff PNC to arrange for other such advertising The U.S. Marshal shall conduct the sale and shall abide by the terms of Pursuant to Admiralty Local Rule E.15, Plaintiff PNC may make a PNC.SADEK/2978 -3- Case No. SACV 11-1814 JVS (JPRx) DEFAULT JUDGMENT AND ORDER FOR SALE OF VESSEL AND CREDIT BID 1 custodia legis fees or costs applicable to the Defendant Vessel. 2 7. 3 report to the Court pursuant to Local Admiralty Rule E.15. 4 8. 5 further order of the Court. 6 9. 7 any other reason the sale of the Defendant Vessel is not completed, then the 8 parties shall report that to the Court and the Defendant Vessel shall remain 9 under arrest pending further order of the Court. At the conclusion of the sale, the Marshal shall forthwith file a written The proceeds of the sale, if any, are to be deposited into the Court until Should no successful bid be received on the Defendant Vessel, or if for 10 11 12 Dated: June 19, 2012 ________________________________ United States District Court Judge 13 14 15 16 17 18 19 20 21 22 23 24 COX, WOOTTON, GRIFFIN, HANSEN & POULOS, LLP 190 THE EMBARCADERO SAN FRANCISCO, CA 94105 TEL: 415-438-4600 FAX: 415-438-4601 25 26 27 28 PNC.SADEK/2978 -4- Case No. SACV 11-1814 JVS (JPRx) DEFAULT JUDGMENT AND ORDER FOR SALE OF VESSEL AND CREDIT BID

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