Federal Deposit Insurance Company v. Ching et al

Filing 296

ORDER signed by District Judge Kimberly J. Mueller on 6/8/2017 ORDERING that the court hereby enters judgment against defendants and for the FDIC as follows: A baseline damages award: $2,640,000; Pre-judgment interest: $141,219.04 (0.77� 37; per day from 8/20/2010 to 6/5/2017), plus $58.48 per day from 6/6/2017 to the date of this order; Post-judgment interest: 0.77% per day from the date of this order until judgment is paid in full; Defendants are jointly and severally liable for the total judgment. CASE CLOSED. (Zignago, K.)

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UNITED STATES DISTRICT COURT

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EASTERN DISTRICT OF CALIFORNIA

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FEDERAL DEPOSIT INSURANCE
CORPORATION AS RECEIVER FOR
BUTTE COMMUNITY BANK,
Plaintiff,

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No. 2:13-cv-01710-KJM-EFB

ORDER

v.
ROBERT CHING, et al.
Defendants.

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After a jury verdict and damages award, the court now enters judgment and closes

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this case. See Jury Verdict, Nov. 17, 2016, ECF No. 270. The jury found all defendants guilty of

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negligence and a breach of the fiduciary duty of care in connection with an $8,800,000 dividend

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they caused Butte Community Bank to issue. Id. The Federal Deposit Insurance Corporation

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(FDIC), as receiver for Butte Community Bank, is the plaintiff.

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On May 22, 2017, the court issued the following findings: (1) The applicable

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baseline jury award in this case is $2,640,000; (2) the award includes pre-judgment and post-

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judgment interest of 0.77% per day, accruing from August 20, 2010 until judgment is paid in full;

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and (3) defendants are jointly and severally liable for the full judgment. Order, ECF No. 294.

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The FDIC filed an updated interest calculation on June 5, 2017. Cart Decl., ECF No. 295-1.

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The court hereby ENTERS judgment against defendants and for the FDIC as
follows:

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A baseline damages award: $2,640,000.

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Pre-judgment interest: $141,219.04 (0.77% per day from August 20, 2010 to June

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5, 2017), plus $58.48 per day from June 6, 2017 to the date of this order. See Cart Decl. at 1-2.
Post-judgment interest: 0.77% per day from the date of this order until judgment is
paid in full. Id.

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Defendants are jointly and severally liable for the total judgment.

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IT IS SO ORDERED.

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This case is now CLOSED.
DATED: June 8, 2017.

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UNITED STATES DISTRICT JUDGE

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