The American Insurance Company v. Colony Insurance Company

Filing 55

JUDGMENT by Judge Dale S. Fischer. IT IS HEREBY ORDERED ADJUDGED AND DECREED as follows: Colony is required to reimburse American for the full amount that American paid toward the settlement of the underlying action styled Barker v. Wrye, Superior Co urt of California, County of Santa Cruz Case No. CV174237 ("Underlying Action"). Judgment is entered in favor of American and against Colony in the amount of $1,750.000.00, the full amount that American paid toward the settlement of the Underlying Action. Including pre-judgment interest, the Total Judgment entered against Colony is $1,855.049.06 (S1,750,000.00 + Total Pre-Judgment Interest.) (MD JS-6, Case Terminated). (bp)

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JS 6

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UNITED STATES DISTRICT COURT

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CENTRAL DISTRICT OF CALIFORNIA

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Case No. SACV13-01505 DSF (DFMx)

THE AMERICAN INSURANCE
COMPANY,

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JUDGMENT
Plaintiff,

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vs.
COLONY INSURANCE COMPANY,

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Defendants.
COLONY INSURANCE COMPANY,

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Counterclaimant,
vs.

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THE AMERICAN INSURANCE
COMPANY,

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Counter-Defendant.

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The Motions for Summary Judgment, or in the Alternative, Partial Summary
Judgment (collectively, "Motions") filed by Plaintiff and Counter-Defendant The
American Insurance Company ("American") and Defendant and Counterclaimant
Colony Insurance Company ("Colony") were each fully briefed and submitted for
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[PROPOSED] JUDGMENT

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consideration by the Court. The Court, having reviewed and considered the moving

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papers, the oppositions and replies thereto, as well as other matters presented in

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connection herewith, GRANTED American's Motion and DENIED Colony's

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Motion, as set forth in its Memorandum (In Chambers) Order ("Memorandum

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Order") filed on May 6, 2014, and entered on May 7, 2014 in this matter (Document

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No. 47).

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It appearing to the satisfaction of the Court that its Memorandum Order

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disposes of each and every cause of action asserted in American's Complaint and

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Colony's Counterclaim in this action, and that a final judgment can and should be

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entered, and good cause appearing therefor, IT IS HEREBY ORDERED,

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ADJUDGED AND DECREED as follows:

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1.

Colony is required to reimburse American for the full amount that

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American paid toward the settlement of the underlying action styled Barker v.

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Wrye, Superior Court of California, County of Santa Cruz Case No. CV 174237

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("Underlying Action").

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2.

Judgment is entered in favor of American and against Colony in the

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amount of $1,750,000.00, the full amount that American paid toward the settlement

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of the Underlying Action.

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3.

Pre-judgment interest is also awarded in favor of American and against

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Colony at the legal rate of seven percent per annum pursuant to California Civil

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Code Section 3287, from July 19, 2013 (the date of American's $1,750,000.00

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settlement payment) to the date hereof in the daily sum of $335.62. The pre-

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judgment interest is calculated as follows:

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July 19, 2013 to May 9, 2014 (294 days):

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May 9, 2014, to entry of Judgment ($335.62 x 19 days): $ 6376.78.

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Total Pre-Judgment Interest:

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4.

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$ 98,672.28.
$ 105,049.06.

Including pre-judgment interest, the Total Judgment entered against

Colony is $ 1,855,049.06 ($1,750,000.00 + Total Pre-Judgment Interest.)
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[PROPOSED] JUDGMENT

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5.

Pursuant to 28 U.S.C. Section 1961 and Local Rule 58-7, American is

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entitled to post-judgment interest to be calculated as set forth on the attached

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Memorandum of Post-Judgment Interest.

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6.

American is entitled to recover its costs of suit herein from Colony, to

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be addressed in a separate Application to the Clerk to Tax Costs to be noticed and

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filed by American pursuant to Rule 54(d) of the Federal Rules of Civil Procedure

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and Local Rule 54-2.

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This is a final and appealable judgment between American and Colony as to
all causes of action, claims, defenses, and issues in this action, including those
asserted in American's Complaint and Colony's Counterclaim.
IT IS SO ORDERED.

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DATED: _____5/28/14____

___________________________
Dale S. Fischer
United States District Judge

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[PROPOSED] JUDGMENT

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MEMORANDUM OF POST-JUDGMENT INTEREST

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Post-Judgment interest shall be calculated at the rate of ten percent per

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annum, which is the weekly average, 1-year constant maturity Treasury yield for the

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week ending May 2, 2014, according to the May 5, 2014 Release of the Board of

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Governors of the Federal Reserve System. Based on the amount of the Total

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Judgment as set forth in Paragraph 4 of the Judgment to which the Memorandum is

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attached, post-judgment interest is to be calculated at a rate of $ 508.23 per day

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(Total Judgment x 10% / 365), from the date of entry of Judgment until the date the

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Judgment is paid.

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[PROPOSED] JUDGMENT