Semiserve, Inc. et al v. Semicon Services, LLC et al

Filing 130

JUDGMENT by Judge Josephine L. Staton. IT IS ORDERED, ADJUDGED AND DECREED as follows: 1. Judgment is entered in favor Semiserve, Inc., Stuart Proctor and Kirsteen Proctor in the amount of $2,155,500.77, jointly and severally against Semicon Services, LLC, Retronix International, Inc., and Retronix Semiconductor Limited; 2. Interest on all sums shall accrue at the rate of ten (10) percent per annum from and after entry of judgment, calculated simply, pursuant to section 28 of the Settlement Agreement. (es/tg)

1
2
3
4
5
6
7
8

UNITED STATES DISTRICT COURT

9

CENTRAL DISTRICT OF CALIFORNIA

10
11
12

SEMISERVE, INC., a Nevada
corporation, STUART PROCTOR, an
individual, and KIRSTEEN PROCTOR,
an individual,

13
14
15
16
17

Plaintiffs,

20

SEMICON SERVICES, LLC, an Illinois
limited liability company, an individual,
and DOES 1-20,
Defendants.
SEMICON SERVICES, LLC, and
RETRONIX INTERNATIONAL, INC.,
Counterclaim-Plaintiff,

21
22
23
24
25
26
27
28

JUDGMENT

v.

18
19

Case No.: 8:14-cv-02009-JLS (DFM)
Judge: Hon. Josephine L. Staton
Court Room: 10A

v.
SEMISERVE, INC., STUART
PROCTOR, and KIRSTEEN PROCTOR,
Counterclaim-Defendants.

1
2

JUDGMENT
WHEREAS, Plaintiffs Semiserve, Inc., Stuart Proctor and Kirsteen Proctor

3

(“Plaintiffs”) on the one hand and Defendants Semicon Services, LLC, Retronix

4

International, Inc., and settling party Retronix Semiconductor Limited

5

(“Defendants”) on the other hand executed that certain Share Repurchase,

6

Separation and Mutual General Release Agreement dated December 31, 2015 (the

7

“Settlement Agreement”);

8
9

WHEREAS, Plaintiffs and Defendants mutually sought, and on May 31,
2016, this Court issued, an Order for Dismissal in the above-captioned action, and

10

expressly retained jurisdiction, pursuant to Section 28 of the Settlement Agreement,

11

to enforce the terms of the Settlement Agreement;

12

WHEREAS, section 28 of the Settlement Agreement provides that, “in the

13

event that [Defendants] breach any obligation to pay the sums owed under Section

14

3(k), Semiserve can enforce the terms of this Agreement and have a judgment

15

entered against all of the [Defendants] for the full amount of the Purchase Price,

16

less any payments already made. Such judgment, once entered, shall accrue

17

interest at the rate of 10% per annum”;

18

WHEREAS, section 25 of the Settlement Agreement provides that “[I]f any

19

action at law or in equity, or any motion, is brought to enforce this Agreement, the

20

prevailing Party shall be entitled to all of its costs in bringing and prosecuting said

21

action or motion, including reasonable attorneys’ fees”;

22

WHEREAS, there came before the Court Plaintiffs’ Motion to Enforce

23

Settlement Agreement (the “Motion”) alleging Defendants’ breach of payment

24

obligations under the Settlement Agreement, which was fully briefed by the parties;

25

WHEREAS, the Court issued an order granting the Motion on May 4, 2017;

26
27
28

-2-

1

WHEREAS¸ section 28 of the Settlement Agreement therefore entitles

2

Plaintiffs to have judgment entered in their favor, with interest to accrue at a rate of

3

ten percent per annum, calculated simply, from and after entry of judgment;

4

IT IS ORDERED, ADJUDGED AND DECREED as follows:

5

1. Judgment is entered in favor Semiserve, Inc., Stuart Proctor and Kirsteen

6

Proctor in the amount of $2,155,500.77, jointly and severally against

7

Semicon Services, LLC, Retronix International, Inc., and Retronix

8

Semiconductor Limited;

9

2. Interest on all sums shall accrue at the rate of ten (10) percent per annum

10

from and after entry of judgment, calculated simply, pursuant to section

11

28 of the Settlement Agreement.

12
13
14
15

DATED: May 04, 2017

16

HON. JOSEPHINE L. STATON

17

UNITED STATES DISTRICT JUDGE

18
19
20
21
22
23
24
25
26
27
28

-3-