Citibank, N.A. v. Interface Protein Technology Inc. et al

Filing 41

MOTION by Plaintiff Citibank, N.A. for judgment - Joint Motion for Entry of Consent Judgment Solely Against Defendant Interface Protein Technology Inc. (Attachments: # 1 Exhibit A - Proposed Consent Judgment)(Kelly, Cheryl)

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UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CITIBANK, N.A., a national banking association, Plaintiff, Case No. 1:17-cv-00207 vs. INTERFACE PROTEIN TECHNOLOGY INC., an Illinois corporation, and CHARLES XIAO Q[NG HAN (also known as CHARLES X. HAN, CHARLES HAN, CHARLES XIAO-Q[NG HAN, CHARLES XIAOQING HAN, XIAO QING CHARLES HAN, XIAOQ[NG HAN, XIAO-QING HAN and HAN XIAOQ[NG), an individual, and MINDY MINGXIA LIU (also known as MINDY M LIU, MINGXJA MINDY LIU, MINGXJA LIU, and MING-XIA LIU), an individual, Defendants. CONSENT JUDGMENT This matter comes before the Court by consent ofthe parties to this Case. The Court being fully advised in the premises FINDS that 1. At a status conference held in this Case on July 5, 2017, counsel to Defendants proposed entry ofa consentjudgment against Defendants as the means ofresolving this Case. 2. On July 16, 2017 (the "Petition Date"), Defendants Charles Xiaoqing Han ("Han") and Mindy Mingxia Liu ("Liu") filed a voluntary petition for relief under Chapter 7 of Title i i of the United States Code (the "Bankruptcy Code"), in the United States Bankruptcy Court for the Northern District of Illinois (Chicago) (the "Bankruptcy Court"), commencing a case designated as In re Charles Xiaoqing Han and Mindy Mingxia Liii, Case No. 17-21 154 (the "Bankruptcy Case"). 3. In accordance with the provisions of 11 U.S.C. 362(a), any and all further proceedings in this action are stayed with respect to Mr. Han and Ms. Liu. 4. In consideration of the foregoing, the parties are agreeing to entry of this Order and Judgment in this Case in favor of Plaintiff and solely against Defendant INTERFACE PROTEIN TECHNOLOGY INC., an Illinois corporation, on the terms set forth below. ACCORDINGLY, IT IS HEREBY ORDERED, ADJUDGED AND DECREED THAT judgment is entered against Defendant INTERFACE PROTEIN TECHNOLOGY INC., as follows: i. Judgment is entered on Count I of the Complaint in favor of Citibank, N.A. and against INTERFACE PROTEIN TECI-INOLOGY INC. for $1,587,334.88 (consisting of unpaid principal due pursuant to the Loan Documents executed and delivered by Interface Protein Technology Inc. for the benefit of Plaintiff as described in the Complaint ($ 1 ,499,260.76), plus interest accrued thereon through August 9, 2017 ($58,074.12), plus reasonable attorneys' fees and costs ($30,000.00) through June 30, 2017). From and after August 9, 2017, interest shall accrue on the sum of$1,587,334.88 at the applicable federal statutory rate. 2. Defendant INTERFACE PROTEIN TECI-INOLOGY INC. understands its rights to appeal this order and judgment pursuant to applicable law. To induce Plaintiffto agree to this Consent Judgment, Defendant INTERFACE PROTEIN TECHNOLOGY INC. understands that such Defendant is waiving its rights to appeal. This is a final order and judgment as regards INTERFACE PROTEIN TECHNOLOGY INC. respecting the Note, the Loan Agreement and -2- the Loan described in the Complaint and there is no just reason for delaying the enforcement of this Consent Judgment as against INTERFACE PROTEIN TECHNOLOGY INC. 3. This Judgment is solely against Interface Protein Technology Inc., and nothing in this Judgment and Order is intended to nor shall constitute an effort to collect or enforce indebtedness against Defendants Han and Liu who are debtors in the Bankruptcy Case. Date: August 3, 2017 Entered: District Judge Seen and agreed to: Consented to and prepared by: On behalfofPlaintiff, Citibank, N.A. On behalf of Defendant Interface Protein Technology, Inc. By: /s/CherylA. Kelly Todd A. Rowden (ARDC #6201929) Cheryl A. Kelly (ARDC #6203 101) Audrey D. Mense (ARDC #63 02524) Thompson Coburn LLP 55 E. Monroe Street Chicago, IL 60603 Ph: 312-346-7500 By: /s/ Michael C. Whitticar Michael C. Whitticar NOVA IP Law, PLLC 7001 Heritage Village Plaza, Suite 205 Gainesville, VA 20155 Phone: 571-334-2671 Fax: 855-295-0740 E-Mail :; novaiplawgmail .com -3-

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