Vierramoore, Inc. v. Continental Casualty Company

Filing 35

ORDER APPROVING STAY ON CASH DEPOSIT IN LIEU OF SUPERSEDEAS BOND signed by Chief Judge Morrison C. England, Jr on 9/26/13. (Kaminski, H)

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Thomas G. Trost (SBN 151961)
Gregory L. Maxim (SBN 204242)
SPROUL TROST LLP
3200 Douglas Boulevard, Suite 300
Roseville, California 95661
Telephone: [phone]
Facsimile: [phone]
Attorneys for Plaintiff/
Counterclaim Defendant VierraMoore, Inc.

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IN THE UNITED STATES DISTRICT COURT

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FOR THE EASTERN DISTRICT OF CALIFORNIA

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VIERRAMOORE, INC.; a California corporation

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Plaintiff;

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v.

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CONTINENTAL CASUALTY COMPANY; an
Illinois corporation and DOES 1 through 10,
inclusive;

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Case No. 2:12-CV-01926-MCE-EFB
ORDER APPROVING STAY ON CASH
DEPOSIT IN LIEU OF SUPERSEDEAS
BOND
Judge:

Hon. Morrison C. England

Defendants.

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Whereas, this Court entered an Order and a resulting Judgment in the above-captioned case on

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April 12, 2013 and April 15, 2013 respectively, against Plaintiff/Counterclaim Defendant VierraMoore,

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Inc.; and

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Whereas, VierraMoore, Inc. and Continental Casualty Company have filed a Stipulation for Order

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Approving Stay on Cash Deposit in Lieu of Supersedeas Bond (“Stipulation”) in response to the Order

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and Judgment; and

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After reviewing the Stipulation (ECF No. 34) and finding it to be in compliance with all
applicable statutes, orders and rules;

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The Court HEREBY ORDERS,

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1.

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A cash deposit with the Clerk of Court in the sum of $96,875 is approved in lieu of and

instead of the supersedeas bond mentioned in Rule 62(d) of the Federal Rules of Civil Procedure.
2.

On deposit of this sum, any proceedings and/or writs to enforce the judgment entered on

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this action on April 15, 2013 are stayed pending the determination of Plaintiff/Counterclaim Defendant

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VierraMoore, Inc.’s appeal from this judgment.

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3.

During the appeal, the Clerk of this Court will redeposit the sum received from

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Plaintiff/Counterclaim Defendant VierraMoore, Inc. in an interest bearing account, and the interest

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generated by deposit will serve as additional security for Defendant/Counterclaimant Continental

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Casualty Company opposing the appeal.

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4.

Defendant/Counterclaimant Continental Casualty Company may, following the appeal,

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collect any monies owed under the terms of the judgment, or the judgment as modified on appeal, from

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the amount deposited by Plaintiff/Counterclaim Defendant VierraMoore, Inc. if Plaintiff/Counterclaim

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Defendant does not otherwise pay the judgment promptly. Collection may be by the means of a motion,

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with notice served on the Clerk of this Court and service to Plaintiff/Counterclaim Defendant

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VierraMoore, Inc.

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5.

If following the appeal, the judgment is reversed or the appeal is otherwise resolved such

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that Plaintiff/Counterclaim Defendant VierraMoore is entitled to return of the sums deposited herein in

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whole or in part, or if Plaintiff/Counterclaim Defendant VierraMoore, Inc. fully satisfies and obtains a

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satisfaction of the judgment from Defendant/Counterclaimant, the sums deposited with any interest

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earned may be returned to Plaintiff/Counterclaim Defendant VierraMoore in whole or in part by means

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of a motion, with notice served on the Clerk of this Court and service to Defendant/Counterclaimant

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Continental Casualty Company.

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IT IS SO ORDERED.
Dated: September 26, 2013