Apple Glen Investors, L.P. v. Express Scripts, Inc.

Filing 112

ORDER: Defendant Express Scripts, Inc.'s Motion to Approve Supersedeas Bond and Stay Enforcement of Amended Judgment (Doc. # 111 ) is GRANTED. The Court hereby stays any proceedings to enforce the Amended Judgment pending disposition of Expr ess Scripts' appeal, including to the United States Supreme Court, if applicable. The Court authorizes Express Scripts to file a supersedeas bond with the Clerk of the Court in the amount of $6,388,534.28, and finds that the posting of the bond provides adequate security to Apple Glen for its interest in the Amended Judgment during the pendency of any appeals. Signed by Judge Virginia M. Hernandez Covington on 10/31/2016. (KAK)

UNITED STATES DISTRICT COURT
MIDDLE DISTRICT OF FLORIDA
TAMPA DIVISION
APPLE GLEN INVESTORS, L.P.,
Plaintiff,
v.

Case No. 8:14-cv-1527-T-33EAJ

EXPRESS SCRIPTS, INC.,
Defendant.
______________________________/
ORDER
This matter is before the Court pursuant to Defendant
Express Scripts, Inc.’s Motion to Approve Supersedeas Bond and
Stay Enforcement of Amended Judgment (Doc. # 111), filed on
October 31, 2016.

The Motion is unopposed.

The Court grants

the Motion as follows.
Discussion
On September 8, 2016, the Clerk of the Court entered an
Amended Judgment in favor of Apple Glen in the amount of
$6,284,465.25

(representing

$4,654,688.65

in

damages

and

$1,629,776.60 in prejudgment interest). (Doc. # 105). Express
Scripts filed a Notice of Appeal on October 7, 2016. (Doc. #
107).
At this juncture, Express Scripts requests that the Court
stay execution and approve a supersedeas bond in the amount of

$6,388,534.28.

Express Scripts explains that this amount “is

sufficient to protect the rights of all parties in interest.”
(Doc. # 111 at 2).
Federal Rule of Civil Procedure 62(d) governs motions to
stay execution of a judgment and states: “If an appeal is
taken, the appellant may obtain a stay by supersedeas bond .
. . . The bond may be given upon or after filing the notice of
appeal or after obtaining the order allowing the appeal.

The

stay takes effect when the court approves the bond.”
In Prudential Insurance Company v. Boyd, 781 F.2d 1494,
1498 (11th Cir. 1986), the court instructed: “The purpose of
a supersedeas bond is to preserve the status quo while
protecting the non-appealing party’s rights pending appeal.
It is within the court’s discretion to fashion a security
arrangement that protects the rights of both the judgment
creditor

and

the

judgment

debtor.”

(citing

Poplar

Grove

Planting & Refining Co. v. Bache Halsey Stuart, Inc., 600 F.2d
1189, 1190-91 (5th Cir. 1979)).

“Rule 62(d) ensures that a

defendant can and will pay a victorious plaintiff if the
judgment is affirmed.

The posting of a bond protects the

prevailing plaintiff from the risk of a later uncollectable
judgment and compensates him for delay in the entry of final
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judgment.” United States v. O’Callaghan, 805 F. Supp. 2d 1321,
1324 (M.D. Fla. 2011)(internal citation omitted).
Here,

the

Court

determines

that

Express

Scripts’

requested supersedeas bond amount is adequate, and Apple Glen
does not oppose the stay or the amount of the bond.

The

Motion is accordingly granted.
Accordingly, it is hereby
ORDERED, ADJUDGED, and DECREED:
(1)

Defendant Express Scripts, Inc.’s Motion to Approve
Supersedeas Bond and Stay Enforcement of Amended Judgment
(Doc. # 111) is GRANTED.

(2)

The Court hereby stays any proceedings to enforce the
Amended Judgment pending disposition of Express Scripts’
appeal, including to the United States Supreme Court, if
applicable.

(3)

The

Court

authorizes

Express

Scripts

to

file

a

supersedeas bond with the Clerk of the Court in the
amount of $6,388,534.28, and finds that the posting of
the bond provides adequate security to Apple Glen for its
interest in the Amended Judgment during the pendency of
any appeals.

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DONE and ORDERED in Chambers, in Tampa, Florida, this
31st day of October, 2016.

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