Caterpillar Financial Services Corporation v. Charter Connection Corporation et al

Filing 119

ORDER Granting in Part and Denying in Part #112 Motion for Credit Bid Authority and for Award of Additional Costs; and Denying as Moot #118 Ex Parte Motion to Shorten Time: Caterpillars request for credit bid authority at the sale is granted. Caterpillars request for custodia legis expenses accrued since November 30, 2007 is denied without prejudice. Caterpillar shall promptly after the sale and confirmation file with the court a motion, supporting evidence, and a proposed order, which shall reflect Caterpillars custodia legis expenses accrued since November 30, 2007. Caterpillars ex parte application for an order to shorten time is denied as moot. Signed by Judge M. James Lorenz on 9/5/2008. (mjj)

1 2 3 4 5 6 7 8 9 UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF CALIFORNIA

CATERPILLAR FINANCIAL 10 SERVICES CORPORATION, 11 12 13 14 15 16 17

) ) ) Plaintiff, ) ) v. ) ) CHARTER CONNECTION ) CORPORATION, in Personam, et al., ) ) Defendants. ) __________________________________ )

Civil No. 07cv767-L(NLS) ORDER (1) GRANTING IN PART AND DENYING IN PART PLAINTIFF'S MOTION FOR CREDIT BID AUTHORITY AND FOR AWARD OF ADDITIONAL COSTS; AND (2) DENYING AS MOOT EX PARTE APPLICATION FOR ORDER SHORTENING TIME

Pending before the court in this admiralty action is Plaintiff Caterpillar Financial Services

18 Corporation's ("Caterpillar") Motion for Credit Bid Authority on the Judicial Sale of the 19 Defendant Vessel and for Award of Additional Costs Not Contemplated in the Order for Sale of 20 the Defendant Vessel. For the reasons stated below, Caterpillar's motion is GRANTED IN 21 PART AND DENIED IN PART. 22 Pursuant to orders filed August 6 and August 21, 2008, Caterpillar is the only remaining

23 claimant to the Defendant vessel. Caterpillar's motion for judicial sale of the Defendant vessel 24 was granted on August 12, 2008. Accordingly, Caterpillar's request for credit bid authority at 25 the sale is granted. However, the court is not inclined to enter a deficiency judgment against in 26 personam Defendants for an amount exceeding the difference between the a fair market value of 27 the vessel and the amount owing Caterpillar. 28 / / / / /
07cv767

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Caterpillar's request for custodia legis expenses accrued since November 30, 2007 is

2 denied because Caterpillar has not submitted any invoices in support of the request. Exhibit 1 to 3 the declaration of Michael E. Thompson was not included. In light of the fact that Caterpillar's 4 custodia legis expenses have continued to accrue since November 30, 2007 and will continue to 5 accrue until the sale, and that Caterpillar's expenses cannot until then be fully quantified, 6 Caterpillar shall promptly after the sale and confirmation file with the court a motion, supported 7 by evidence, and a proposed order, which shall reflect Caterpillar's custodia legis expenses 8 accrued since November 30, 2007. 9 10 11 For the foregoing reasons, IT IS HEREBY ORDERED: 1. Caterpillar's request for credit bid authority at the sale is granted. 2. Caterpillar's request for custodia legis expenses accrued since November 30, 2007 is

12 denied without prejudice. Caterpillar shall promptly after the sale and confirmation file with the 13 court a motion, supporting evidence, and a proposed order, which shall reflect Caterpillar's 14 custodia legis expenses accrued since November 30, 2007. 15 16 17 18 DATED: September 5, 2008 19 20 21 COPY TO: 22 HON. NITA L. STORMES UNITED STATES MAGISTRATE JUDGE 23 ALL PARTIES/COUNSEL 24 25 26 27 28
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07cv767

3. Caterpillar's ex parte application for an order to shorten time is denied as moot. IT IS SO ORDERED.

M. James Lorenz United States District Court Judge