STX Pan Ocean Co. Ltd. v. Dynamic Influence Shipping S.A. et al

Filing 33

ORDER of Dismissal with Prejudice and for Full Release of Security. Motions terminated: 32 STIPULATION WITH PROPOSED ORDER OF DISMISSAL OF ACTION, WITH PREJUDICE AND FULL RELEASE OF SECURITY filed by Cido Holding Co, Dynamic Influence Shipping S.A., Cido Tanker Holding Company, Cido Shipping (H.K.) Co., Ltd.., ***Civil Case Terminated. Signed by Judge Phyllis J. Hamilton on 9/30/2014. (pjhlc3, COURT STAFF) (Filed on 9/30/2014)

Case4:13-cv-03691-PJH Document32 Filed09/29/14 Page1 of 4

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JOHN D. GIFFIN, CASB No. 89608
[e-mail]
JENNIFER M. PORTER, CASB No. 261508
[e-mail]
JESSICA LUHRS, CASB No. 284846
[e-mail]
KEESAL, YOUNG & LOGAN
A Professional Corporation
450 Pacific Ave.
San Francisco, California 94133
Telephone: [phone]
Facsimile: [phone]

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Attorneys for Plaintiff STX PAN OCEAN CO. LTD
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Holland & Knight LLP

50 California Street, 28th Floor
San Francisco, CA 94111
Tel: [phone]
Fax: [phone]

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HOLLAND & KNIGHT LLP
Matthew P. Vafidis (California Bar # 103578)
Adanna M. Love (California Bar # 280538)
50 California Street, Suite 2800
San Francisco, California 94111
Telephone: [phone]
Facsimile: 415.743.6910
[e-mail]
[e-mail]

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Attorneys for Defendants DYNAMIC INFLUENCE SHIPPING S.A.;
CIDO TANKER HOLDING COMPANY; CIDO SHIPPING (HK)
CO. LTD.; and CIDO HOLDING CO.

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UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA

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OAKLAND DIVISION

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STX PAN OCEAN CO. LTD.,

)
)
Plaintiff,
)
)
vs.
)
)
DYNAMIC INFLUENCE SHIPPING S.A.;
)
CIDO SHIPPING (HK) CO. LTD.; CIDO
)
TANKER HOLDING COMPANY; and CIDO )
HOLDING CO.,
)
)
Defendants.
)
)
)

Case No.: CV-13-3691-PJH
ORDER ON
STIPULATION OF DISMISSAL OF
ACTION, WITH PREJUDICE,
BY PLAINTIFF; AND STIPULATION
FOR AND PROPOSED ORDER FOR
FULL RELEASE OF SECURITY
Rule 41(a)(1)(A)(ii), Fed. R.Civ.P.

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STIPULATION RE: DISMISSAL AND RELEASE OF SECURITY

Case No.: CV-13-3691-PJH

Case4:13-cv-03691-PJH Document32 Filed09/29/14 Page2 of 4

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IT IS HEREBY STIPULATED by and between Plaintiff STX PAN OCEAN CO. LTD.
("Plaintiff") and Defendants DYNAMIC INFLUENCE SHIPPING S.A., CIDO SHIPPING (HK)

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CO. LTD., CIDO TANKER HOLDING COMPANY, and CIDO HOLDING CO. (collectively

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“Defendants”), and each of them, by and through their respective counsel of record, as follows:

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WHEREAS,

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1.

This action was filed on August 8, 2013.

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2.

In its Verified Complaint herein, (Doc.#1), Plaintiff applied for a writ of maritime

Asset Forfeiture Actions ("the Supplemental Rules") to attach the M.V. BUM EUN, then within this

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district. On August 9, 2013, this Court issued an Order Authorizing Process of Maritime

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Holland & Knight LLP

attachment, pursuant to Rule B of the Supplemental Rules for Admiralty or Maritime Claims and

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50 California Street, 28th Floor
San Francisco, CA 94111
Tel: [phone]
Fax: [phone]

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Attachment and Garnishment, Process of Maritime Attachment and Garnishment and an Order to

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the U.S. Marshal Regarding Process of Maritime Attachment and, thereafter, the M.V. BUM EUN
was seized or attached within this district, pursuant to Rule B and the said Orders.
3.

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On August 16, 2013, Plaintiff and Defendants, by and through their respective

counsel of record herein, filed a stipulation in this action agreeing, upon certain terms and
conditions set forth therein, that, pursuant to Rule E(5)(a) of the Supplemental Rules, a deposit of

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security may be made on behalf of Defendants in the amount of Thirty Million Dollars Only
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($30,000,000) to the Clerk of Court for deposit into the Court's registry, and that upon the giving of
the said security, Plaintiff would immediately obtain the release of the M.V. BUM EUN from
seizure without the necessity of any further order from this Court (Doc.#18.)

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4.

On August 16, 2013, in accordance with the Court's Order approving the said

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stipulation, Defendants' counsel paid Thirty Million Dollars Only ($30,000,000), in the form of a

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check drawn on its Client Trust Account, to the Clerk of Court for deposit into the Court's registry.

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Thereafter, Plaintiff's counsel obtained the release of the M.V. BUM EUN from attachment.

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5.

In October 2013, Plaintiff commenced arbitration in London of the claims against

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Defendants that are the subject of this action. On October 23, 2013, Plaintiff and Defendants

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submitted a stipulation to this Court requesting an Order staying this action for a year (Doc. #26),

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which order was granted by this Court on October 24, 2013 (Doc. #27.)

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//
-2STIPULATION RE: DISMISSAL AND RELEASE OF SECURITY

Case No.: CV-13-3691-PJH

Case4:13-cv-03691-PJH Document32 Filed09/29/14 Page3 of 4

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6.

On September 17, 2014, Plaintiff and Defendants, by and through their respective

counsel of record, filed a stipulation, under the terms and conditions set forth therein, requesting an

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Order for the partial release of the security, specifically that the Clerk of Court release from its

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registry the amount of Five Million Dollars Only ($5,000,000), which Order was granted by this

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Court on September 17, 2014 (Doc. #31.)

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7.

On September 24, 2014, Defendants' counsel received the funds released from the

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Court's registry in the form of a check in the amount of Five Million Dollars Only ($5,000,000), and

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submitted to the Court an acknowledgement of the receipt of the said payment.
8.

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As of September 24, 2014, the amount of security deposited in the Court's registry in

Holland & Knight LLP

connection with this action was and is Twenty Five Million Dollars Only ($25,000,000), plus any

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50 California Street, 28th Floor
San Francisco, CA 94111
Tel: [phone]
Fax: [phone]

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accrued interest.
IT IS HEREBY STIPULATED that:

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1.

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Plaintiff and Defendants have concluded a full and final settlement of the disputes

that are and were the subject of the arbitration in London and the subject of the Verified Complaint
in this action.
2.

Pursuant to the said settlement agreement, Plaintiff has agreed to dismiss this action

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with prejudice and without award of costs or fees to any party.
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3.

without costs or fees to any party; Defendants, and each of them, hereby agree to the said dismissal
of this action.

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Accordingly, Plaintiff hereby voluntarily dismisses this action with prejudice, and

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Said dismissal is made pursuant to Rule 41(a)(1)(A)(ii) of the Federal Rules of Civil

Procedure.

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5.

Plaintiff and Defendants hereby jointly request an Order be issued by the Court that,

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the Clerk of the Court be ordered to, and shall immediately, release the full amount of the security

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held in the Court's registry, in the amount of Twenty Five Million Dollars Only ($25,000,000), plus

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accrued interest, and that this sum be released to the law firm of Holland &Knight LLLP, in Trust,

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on behalf of the Defendants and each of them.

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//

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//
-3STIPULATION RE: DISMISSAL AND RELEASE OF SECURITY

Case No.: CV-13-3691-PJH

Case4:13-cv-03691-PJH Document32 Filed09/29/14 Page4 of 4

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SO STIPULATED.
Dated: September 29, 2014

KEESAL, YOUNG & LOGAN

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/s/ Jessica Luhrs
John Giffin
Jessica Luhrs
Attorneys for Plaintiff
STX PAN OCEAN CO. LTD.

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Dated: September 29, 2014

HOLLAND & KNIGHT LLP

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/s/ Matthew P. Vafidis
Matthew P. Vafidis
Adanna M. Love
Attorneys for Defendants
DYNAMIC INFLUENCE SHIPPING S.A.,
CIDO SHIPPING (HK) CO. LTD., CIDO TANKER
HOLDING COMPANY, and CIDO HOLDING CO.

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GOOD CAUSE APPEARING THEREFOR, IT IS SO ORDERED.

RT

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ERED

United IT IS SO ORD Judge
States District
NO

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Dated: September 30 , 2014

hyllis
Judge P

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ton

J. Hamil

R NIA

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UNIT
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Holland & Knight LLP

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50 California Street, 28th Floor
San Francisco, CA 94111
Tel: [phone]
Fax: [phone]

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-4STIPULATION RE: DISMISSAL AND RELEASE OF SECURITY

Case No.: CV-13-3691-PJH