Republic of Panama v. Jurado et al
Filing
38
ORDER re 37 Order on Motion for Miscellaneous Relief, the wrong document was attached to the previous entry; granting Motion to Commence Proceedings Supplementary Signed by Judge Elizabeth A. Kovachevich on 4/11/2014. (JM)
UNITED STATES DISTRICT COURT
MIDDLE DISTRICT OF FLORIDA
TAMPA DIVISION
REPUBLIC OF PANAMA,
Petitioner,Case No. 8:12-CV-1647-T-17MAP
v.
JAIME JURADO and
NATIONS ENERGY
CORPORATION,
Respondents.
/
ORDER GRANTING MOTION TO COMMENCE
PROCEEDINGS SUPPLEMENTARY
This matter comes before the Court upon the Motion to Commence Proceedings
Supplementary and Accompanying Memorandum of Law (Doc. No. 30) (the “Motion”)1
by the Republic of Panama, and the accompanying Declaration Under Penalty of
Perjury of Whitney Debevoise In Support of Motion to Commence Proceedings
Supplementary (Doc. No. 32) and Motion for Entry of Preliminary Injunction (Doc. No.
31).
Respondents have not filed a response to Petitioner’s Motion, and no motion for
extension of time has been filed.
After considering the Motion and accompanying Declaration, and being
sufficiently advised, the Court finds as follows:
a)
On June 13, 2013, Petitioner and Petitioner in Execution, the REPUBLIC
'Capitalized terms not defined herein shall have the same meaning set forth in
the Motion.
Case No. 8:12-CV-1647-T-17MAP
OF PANAMA (“Panama”), secured a judgment against Respondent and Respondent in
Execution, JAIME JURADO (“Jurado”) in the sum of $3,912,219.17 (the “Judgment”).
b)
Panama has not received any satisfaction of the Judgment, in full or in part,
and there is presently due on the Judgment the sum of $4,391,388.85, which
represents the balance of the unsatisfied Judgment of $3,912,219.17 plus $475,013.08
in post-arbitration award interest2 and $4,156.60 in post-judgment interest as provided
for in 28 U.S.C. § 19613. Therefore, as of March 18, 2014, the Judgment exceeds $4.3
million dollars.
c)
d)
The Judgment is valid and outstanding and remains unsatisfied.
In accordance with Ra. Stat. § 56.29, Panama has shown entitlement to
proceedings supplementary.
e)
As a result of providing post-petition financing, Jurado possesses
post-petition administrative claims in EME’s bankruptcy estate in the form of a
percentage of the recoveries and/or settlement proceeds obtained by the Chapter 11
Trustee in EME’s bankruptcy case in various adversary proceedings brought by the
2Pursuant to Article 54(1) of the Convention on the Settlement of Investment
Disputes Between States and Nationals of Other States and 22 U.S.C. § 1650a(1), the
ICSID Award shall be enforced and given the same full faith and credit as if it were a
final judgment of a court of general jurisdiction of the state of Florida. Pursuant to Fla.
Stat. § 55.03, the applicable interest rate for the time period at issue is 4.75%.
Therefore, accrued post-arbitration award interest in the amount of $475,013.08
constitutes interest accrued on the ICSID Award from its date of entry on November 24,
2010 through June 13, 2013 at the post-arbitration interest rate of 4.75%
per annum.
3
Accrued post-judgment interest in the amount of $4,156.60 constitutes interest
accrued on the Judgment from its date of entry on June 14, 2013 through March 18,
2014 at the post-judgment statutory rate of 0.14% per annum.
2
Case No. 8:12-CV-1647-T-17MAP
Trustee.
According to Petitioner Republic of Panama, the Claims and Jurado’s proportion
of recoveries thereunder include, but are not limited to, the following:
a)
Thirty percent (30%) of the Trustee’s recovery in its claim
against Cast-Crete Corporation (Case No.
8:13-ap-00158-MGW) (Bankr. M.D. Fla.).
b)
A portion of the Trustee’s recovery in its action against
Johnson Controls, Inc. (Case No. 8:13-ap-00157-MGW)
(Bankr. M.D. Fla.).
c)
Sixty-five percent (65%) of the Trustee’s recovery in its arbitration
claim against Whiting-Turner company, which arbitration
proceeding is before the American Arbitration Association.
d)
Seventy percent (70%) of the Trustee’s recovery in its claim
against Triad Engineering.
e)
Fifty percent (50%) of the Trustee’s recovery in its action
against SafeCo Insurance Company of America.
f)
Fifty percent (50%) of the Trustee’s recovery in its action
against Florida Biodiesel Fuel, Inc.
The Court grants Petitioner’s Motion as set forth below. It is therefore ORDERED and
ADJUDGED that:
1.
The Motion to Commence Proceedings Supplementary (Doc. No. 30) is
hereby granted;
2.
Jurado is hereby ordered to appear before the Court, at a time and date to
be set by the assigned Magistrate Judge in a separate Order, to be examined
concerning his property and interest in the Claims, and must be prepared to testify at
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Case No. 8:12-CV-1647-T-17MAP
such time concerning the nature of the DIP Orders and the Administrative Claim,
including but not limited to, the case name, cause of action, amount at issue, potential
recovery and/or settlement amount, identity of counsel to the parties, fora, and status of
each and every one of the Claims, and the percentage due to him of the Trustee’s
recoveries in the Claims;
3.
Jurado’s rights to payment under the DIP Orders and the Administrative
Claim are hereby assigned to Panama up to the amount of the Judgment, to secure
satisfaction of the Judgment by Jurado;
4.
Jurado is hereby directed to give written notice to the Trustee of the
assignment of his rights to payment under the DIP Orders and the Administrative Claim
to Panama, a copy of which notice shall be filed in this case;
5.
If Jurado fails to give the Trustee such notice within two (2) days after the
date of entry of this Order, Panama is hereby authorized to provide written notice of the
assignment ofJurado’s rights to payment pursuant to the DIP Orders and the
Administrative Claim to Panama to the Trustee, a copy of which notice (if given) shall
be filed in this case;
6.
To the extent that, notwithstanding the assignment to Panama of Jurado’s
rights to payment under the DIP Orders and the Administrative Claim (as set forth
above), Jurado receives any monies from the Trustee or otherwise as a result of the
Claims, whether from or on account of amounts payable to him by the Trustee, at a
time when any portion of Panama’s Judgment is outstanding, Jurado is directed to hold
all such monies in trust for Panama’s benefit and turn over all such monies to Panama;
and
7.
This Court shall retain jurisdiction to hear and determine all matters arising
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Case No. 8:12-CV-1647-T-17MAP
from implementation of this Order.
DONE and ORDERED in Chambers, Tampa, Florida, on this 11th day of
April, 2014.
Copies furnished to:
All parties and counsel of record
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