General Motors Corporation et al v. Weber

Filing 71

CONSENT JUDGMENT Signed by District Judge Lawrence P. Zatkoff. (MVer)

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UNITED STATES DISTRICT COURT EASTERN DISTRICT OF MICHIGAN SOUTHERN DIVISION GENERAL MOTORS CORPORATION, a Delaware corporation, GM DE MEXICO S. DE R.L. DE C.V., a Mexican entity, and GM OF CANADA LTD., a Canadian entity, Case No. 2:08-cv-12671 Hon. Lawrence P. Zatkoff Mag. Judge Mark A. Randon Plaintiffs, v. ALBERT WEBER GMBH, a German entity, and WEBER AUTOMOTIVE CORPORATION, a South Carolina corporation, Defendants. / CONSENT JUDGMENT Pursuant to an Opinion and Order dated June 14, 2012 (Docket # 70) (the “Summary Judgment Order”), the Court found that GM de Mexico S. de R.L. de C.V. and GM of Canada Ltd. (“Plaintiffs”) properly terminated the purchase orders at issue and granted Plaintiffs’ summary judgment Motion on liability regarding all of the counts in Plaintiffs’ Amended Complaint and all of the counts in the Amended Counterclaim filed by Albert Weber GmbH and Weber Automotive Corporation (“Defendants”). After issuance of the Summary Judgment Order, the sole issue remaining for trial was the amount of damages Plaintiffs could recover. A Final Pretrial and Settlement Conference was held on August 28, 2012. At the conference, Plaintiffs and Defendants reached a settlement that requires entry of this Consent Judgment. Plaintiffs and Defendants have stipulated to entry of this Consent Judgment. Accordingly, IT IS ORDERED AND ADJUDGED AS FOLLOWS: 1. Judgment is entered in favor of Plaintiffs and against Defendants, jointly and severally, in the amount of $5,500,000. 2. The amount of the Judgment shall be paid as follows: $2,500,000 on or before December 15, 2012 and $3,000,000 on or before December 15, 2013. Time is of the essence with respect to both payments. If either payment is not made by the due date, Plaintiffs can immediately commence actions to collect the full amount of this Consent Judgment less any amounts already paid by Defendants. 3. If Plaintiffs are required to take action to collect any portion of this Consent Judgment, then this Consent Judgment shall bear interest at the rate of 5% per annum, compounded monthly, from the date this Consent Judgment is entered until the date it is satisfied in full. 4. The Summary Judgment Order and this Consent Judgment resolve all claims and counterclaims between Plaintiffs and Defendants. There shall be no right of any appeal from the Summary Judgment Order or from this Consent Judgment. 5. The only remaining claims are between Plaintiff General Motors Corporation, now known as Motors Liquidation Corporation, and Weber Automotive Corporation. Those claims have been stayed by the bankruptcy of Motors Liquidation Corporation. Accordingly, upon entry of this Consent Judgment, the balance of this case, involving only those claims, shall be administratively closed. 6. The Court retains jurisdiction to enforce this Consent Judgment. IT IS SO ORDERED. Dated September 19, 2012 s/Lawrence P. Zatkoff Lawrence P. Zatkoff United States District Judge 2 The parties to this action and their respective attorneys hereby stipulate to entry of the above Consent Judgment. HONIGMAN MILLER SCHWARTZ AND COHN LLP Attorneys for Plaintiffs BROOKS WILKINS SHARKEY & TURCO PLLC Attorneys for Defendants By: /s/ Mark A. Stern Mark A. Stern (P36812) Lawrence J. Murphy (P47129) 2290 First National Building Detroit, Michigan 48226 (313) 465-7568 mstern@honigman.com lmurphy@honigman.com By: /s/ Daniel N. Sharkey Daniel N. Sharkey (P53837) Steven M. Ribiat (P45161) 401 S. Old Woodard Ave., Suite 460 Birmingham, Michigan 48009 (248) 971-19719 sharkey@bwst-law.com ribiat@bwst-law.com GM DE MEXICO S. DE R.L. DE C.V. ALBERT WEBER GMBH By:/s/ Lawrence S. Buonomo By: /s/ Albert Weber Its: Global Process Leader-Litigation General Motors Legal Staff Its: President and CEO GM OF CANADA LTD. WEBER AUTOMOTIVE CORPORATION By: /s/ Lawrence S. Buonomo By: /s/ Albert Weber Its: Global Process Leader-Litigation General Motors Legal Staff Its: President and CEO 11330222.1 3

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