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

Filing 94

ORDER: Defendant Express Scripts, Inc.'s Motion to Approve Supersedeas Bond and Stay Enforcement of Judgment (Doc. # 93 ) is GRANTED. The Court hereby stays any proceedings to enforce the Judgment (Doc. # 87 ), pending disposition of Expre ss 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 $6,370,019.80, and finds that the posting of the bond provides adequate security to Apple Glen for its interest in the Judgment during the pendency of any appeals. Signed by Judge Virginia M. Hernandez Covington on 4/22/2016. (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 Judgment (Doc. # 93), filed on April 22,
2016.

The Motion is unopposed.

The Court grants the Motion

as follows.
Discussion
On March 10, 2016, the Court entered its Findings of Fact
and Conclusions of Law (Doc. # 86) after holding a bench
trial.
Judgment

On March 11, 2016, the Clerk of the Court entered
in

favor

of

Apple

Glen

in

the

amount

of

$4,654,688.65, plus interest, in accordance with the Findings
of Fact and Conclusions of Law. (Doc. # 87).

Express Scripts

filed a timely Notice of Appeal on April 7, 2016. (Doc. # 88).

On April 11, 2016, Apple Glen filed a Motion requesting
attorneys fees in the amount of $676,745.00, costs in the
amount

of

$15,315.03,

and

entry

of

an

Amended

Judgment

reflecting these amounts plus prejudgment interest. (Doc. ##
90, 91). The Court denied the Motions without prejudice, with
leave to re-file after the conclusion of the appeal. (Doc. #
92).
At this juncture, Express Scripts requests that the Court
stay execution and approve a supersedeas bond in the amount of
$6,370,019.80.
equal

to

the

Express Scripts explains that this amount “is
Judgment

amount,

plus

prejudgment

interest

accruing from April 1, 2014, plus two years of postjudgment
interest.” (Doc. # 93 at 1).

Express Scripts represents that

it “is prepared to post [the bond] if the Court approves the
bond.” (Id.).
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.
stay takes effect when the court approves the bond.”

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The

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

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The

(1)

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

(2)

The Court hereby stays any proceedings to enforce the
Judgment (Doc. # 87), 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 $6,370,019.80, and finds that the posting of
the bond provides adequate security to Apple Glen for its
interest in the Judgment during the pendency of any
appeals.
DONE and ORDERED in Chambers, in Tampa, Florida, this
22nd day of April, 2016.

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