Cummings et al v. Paramount Partners, LP et al
Filing
87
ORDER FOR JUDGMENT re 86 Stipulation. (Written Opinion). Signed by Judge Richard H. Kyle on 11/8/11. (kll)
UNITED STATES DISTRICT COURT
DISTRICT OF MINNESOTA
FOURTH DIVISION
Steven B. Cummings, et al.,
Court File No. 09-CV-847-RHK/JJK
Plaintiffs,
vs.
Paramount Partners, LP; Crossroad Capital
Management, LLC; John W. Lawton;
Capital Solutions Management, LP; Capital
Solutions Distributors, LLC; Charles T.
Thompson; Timothy R. Redpath; and
Michael W. Bozora,
Defendants.
Bruce Vanyo, Simona Fusco, Jeff Spetz,
Carol Spetz, Lannon B. Tanchum,
Tanchum Family Trust, and Ann L. Alton,
Court File No.: 10-cv-00456-RHK/JJK
Plaintiffs,
vs.
ORDER FOR JUDGMENT
Paramount Partners, LP; Crossroad Capital
Management, LLC; John W. Lawton;
Capital Solutions Management, LP; Capital
Solutions Distributors, LLC; Charles T.
Thompson; Timothy R. Redpath; and
Michael W. Bozora,
Defendants.
Based upon the parties’ Stipulation:
IT IS HEREBY ORDERED:
1.
Judgment is hereby entered in favor of Plaintiffs and against Defendants Capital Solutions
Management, L.P., Capital Solutions Distributors, LLC, Timothy R. Redpath,
Michael W. Bozora and Charles T. Thompson as follows:
a. Each Plaintiff shall have a non-recourse judgment against Defendants Capital
Solutions Management, L.P., Capital Solutions Distributors, LLC, Timothy R.
Redpath, Michael W. Bozora and Charles T. Thompson, jointly and severally, in
the following judgment amounts (“Judgment”):
PLAINTIFF
JUDGMENT
AMOUNT
(1) Steven B. Cummings, an
Individual
(2) Ellen DeHaven (Peterson) as an Individual and as the beneficial owner
and real party in interest of her Individual Retirement Account
(3) Joseph Dziedzic, an
Individual
(4) John Gardiner, an
Individual
John Gardiner as
Custodian for Max A. Gardiner
John Gardiner as
Custodian for Paige M. Gardiner
John Gardiner as
Custodian for Jake W. Gardiner
(5) David J. Gartner, as an Individual and as the beneficial owner and real party
in interest of his Profit Sharing Plan
(6) Stephen R. Gulbrandsen, an Individual and as the beneficial owner and real
party in interest of his Profit Sharing Plan
(7) Gregory T. Hegwood, an
Individual
(8) Blake Johnson, LLC,
A Limited Liability Company
(9) Bryant Johnson, an
Individual
(10) J. Evan Johnson, an Individual and as the beneficial owner and real party in
interest of his Individual Retirement Account
(11) Peter Johnson, an
Individual
(12) R. Thomas Lane, an
Individual
(13) Elizabeth J. Lane, an Individual and as the beneficial owner and real party
in interest of her Individual Retirement Account
(14) Craig Mandery, an
Individual
(15) Mark R. Omlie and JoAnn Omlie, Husband
and Wife
(16) Gregory V. O’Toole, and Individual and as the beneficial owner and
Real party in interest of his Individual Retirement Account
(17) Guy M. Peterson, and Individual and as the beneficial owner and real
party in interest of his Individual Retirement Account
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$84,262.36
$168,524.72
$134,819.78
$370,754.40
$6,740.99
$6,740.99
$6,740.99
$404,459.34
$181,791.72
$67,409.89
$67,409.89
$67,409.89
$155,042.75
$67,409.89
$31,008.55
$67.409.89
$67,409.89
$134,819.78
$135,023.62
$67,409.89
(18) Jeffrey M. Petrik, and Individual and as the beneficial owner and real party
in interest of his Individual Retirement Account
(19) Sally A. Petrik, and Individual and as the beneficial owner and real party in
interest of her Individual Retirement Account
(20) Douglas M. Polinsky, and Individual and as the beneficial owner and real
party in interest of his Individual Retirement Account
(21) Joseph H. Ryan, an
Individual
(22) Sandra M. Ryan, an
Individual
(23) Robert Spadafora, an
Individual
(24) Thomas C. Weekly, and Individual and as the beneficial owner and real
party in interest of his Individual Retirement Account
(25) Daniel Welch, an
Individual
(26) Daniel White, and Individual and as the beneficial owner and real party in
interest of his Individual Retirement Account
(27) John Wilson, an
Individual
(28) Simona Fusco, an
Individual
(29) Carol Spetz, an
Individual
(30) Jeff Spetz, an
Individual
(31) Lannon B. Tanchum, an Individual and
Tanchum Family Trust
$37,075.44
(32) Ann L. Alton, an
Individual
(33) Bruce Vanyo, an
Individual
JUDGMENT TOTAL
$67,409.89
2.
$33,704.94
$67,409.89
$0
$303,344.50
$84,262.36
$152,720.92
$92,627.93
$303,344.50
$101,114.84
$134,819.78
$116,734.60
$116,627.53
$202,229.67
$1,125,595.16
$5,231,621,22
This Judgment is subject to the terms, conditions and limitations of the Confidential
Settlement Agreement and Releases and the Miller-Shugart Agreement and Stipulation
for Entry of Judgment entered into between Plaintiffs and Defendants Capital Solutions
Management, L.P., Capital Solutions Distributors, LLC, Timothy R. Redpath, Michael
W. Bozora and Charles T. Thompson, which are incorporated by reference in this Order
for Judgment as if fully set forth herein, including but not limited to the following terms
relating to the Judgment:
a.
The Judgment entered against Defendants Capital Solutions Management, L.P.,
Capital Solutions Distributors, LLC, Timothy R. Redpath, Michael W. Bozora and
Charles T. Thompson, jointly and severally, is a non-recourse Judgment that shall
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only be executable against or collectible from the Catlin Policies or Catlin, or as
provided in the Confidential Settlement Agreement and Releases and the MillerShugart Agreement from Tri-City Brokerage, and shall not be executable or
collectible from any assets, real or personal, tangible or intangible, that are now
owned, or that may be owned at anytime in the future by Defendants Capital
Solutions Management, L.P., Capital Solutions Distributors, LLC, Timothy R.
Redpath, Michael W. Bozora and Charles T. Thompson, or those of their heirs, next
of kin, successors, assigns, officers, directors, agents, representatives, or affiliates
(“Assets”). Plaintiffs may take any legal action against Catlin or Tri-City Brokerage
which may be necessary to satisfy this Judgment, but shall not collect or execute on
any Assets of the Defendants Capital Solutions Management, L.P., Capital Solutions
Distributors, LLC, Timothy R. Redpath, Michael W. Bozora and Charles T.
Thompson, or those of their heirs, next of kin, successors, assigns, officers, directors,
agents, representatives, or affiliates, except for the assets represented by the
Defendants Capital Solutions Management, L.P., Capital Solutions Distributors, LLC,
Timothy R. Redpath, Michael W. Bozora and Charles T. Thompson’s rights, if any,
to defense and/or indemnity and/or other right under the Catlin Policies, as described
herein, or for any assets represented by Defendants Capital Solutions Management,
L.P., Capital Solutions Distributors, LLC, Timothy R. Redpath, Michael W. Bozora
and Charles T. Thompson’s rights or claims, if any, against Tri-City Brokerage as
provided in the Confidential Settlement Agreement and Releases and the MillerShugart Agreement;
b. That Plaintiffs shall not take any action at any time to enforce any claim, including
the Judgment, against any Assets of the Defendants Capital Solutions Management,
L.P., Capital Solutions Distributors, LLC, Timothy R. Redpath, Michael W. Bozora
and Charles T. Thompson, their heirs, next of kin, successors, assigns, officers,
directors, agents, representatives or affiliates, except for the assets represented by the
Defendants Capital Solutions Management, L.P., Capital Solutions Distributors, LLC,
Timothy R. Redpath, Michael W. Bozora and Charles T. Thompson’s rights, if any,
to defense and/or indemnity or other right under the Catlin Policies, or for any assets
represented by the Defendants Capital Solutions Management, L.P., Capital Solutions
Distributors, LLC, Timothy R. Redpath, Michael W. Bozora and Charles T.
Thompson’s rights or claims, if any, against Tri-City Brokerage as provided in the
Confidential Settlement Agreement and Releases and the Miller-Shugart Agreement.
This expressly includes any claims relating to Plaintiffs’ limited partnership
investments in Paramount, whether known or unknown;
c. The Judgment may not be satisfied by attachment of, nor shall it become a lien upon,
any of the Assets owned by Defendants Capital Solutions Management, L.P., Capital
Solutions Distributors, LLC, Timothy R. Redpath, Michael W. Bozora and Charles T.
Thompson, their heirs, next of kin, successors, assigns, officers, directors, agents,
representatives or affiliates except for the assets represented by the Settling
Defendants’ rights, if any, to defense and/or indemnity or other right under the Catlin
Policies, or for any assets represented by the Settling Defendants’ rights or claims, if
any, against Tri-City Brokerage as provided in the Master Settlement Agreement;
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d. Plaintiffs agree to release and subordinate and do hereby release and subordinate any
past, present, or future claim or putative lien entered against any of the Assets owned
by Defendants Capital Solutions Management, L.P., Capital Solutions Distributors,
LLC, Timothy R. Redpath, Michael W. Bozora and Charles T. Thompson, their heirs,
next of kin, successors, assigns, officers, directors, agents, representatives or affiliates
due to the entry of the Judgment, except for the assets represented by the Defendants
Capital Solutions Management, L.P., Capital Solutions Distributors, LLC, Timothy R.
Redpath, Michael W. Bozora and Charles T. Thompson’s rights, if any, to defense
and/or indemnity and/or other right under the Catlin Policies, or for any assets
represented by the Defendants Capital Solutions Management, L.P., Capital Solutions
Distributors, LLC, Timothy R. Redpath, Michael W. Bozora and Charles T.
Thompson’s rights or claims, if any, against Tri-City Brokerage as provided in the
Confidential Settlement Agreement and Releases and the Miller-Shugart Agreement.
Dated: November 8, 2011
s/Richard H. Kyle
RICHARD H. KYLE, JUDGE
United States District Court
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