Farnam Street Financial, Inc. v. FabFad2020, Inc.

Filing 22

ORDER: IT IS HEREBY ORDERED that Plaintiff's Motion #12 is GRANTED, and further directing. LET JUDGMENT BE ENTERED ACCORDINGLY. (Written Opinion) Signed by The Hon. Paul A. Magnuson on 6/3/2021. (LLM)

UNITED STATES DISTRICT COURT
DISTRICT OF MINNESOTA
Farnam Street Financial, Inc., a
Minnesota corporation,

Civ. No. 21-424 (PAM/BRT)

Plaintiff,
ORDER

v.
FabFad2020, Inc., a Delaware
corporation,
Defendant.

This matter is before the Court on Plaintiff’s Motion for Entry of Default Judgment
pursuant to Rule 55(b)(2) of the Federal Rules of Civil Procedure.
Plaintiff Farnam Street Financial, Inc., filed this lawsuit on February 16, 2021, and
the summons was returned executed on February 22, 2021. (Docket No. 6.) Defendant
FabFad 2020, Inc., has not appeared and did not respond to the Complaint. The Clerk’s
Office entered default against Defendant on March 18, 2021. (Docket No. 9.)
The Complaint (Docket No. 1) alleges that Defendant entered into an equipment
lease agreement with Plaintiff in December 2018. (Compl. ¶ 6.) Defendant committed to
leasing $312,000 worth of equipment for a period of 24 months, but as of the filing of the
Complaint had only selected $265,783.46 worth of equipment. The Complaint also alleges
that Defendant is obligated to pay $12,027.98 in “interim rent” for the equipment it
selected. (Id. ¶ 12.) Defendant had not paid its interim rent obligations for more than 18
months as of the filing of the Complaint. (Id. ¶ 15.) The total amount of damages Plaintiff

claims is $545,370.74. (Id. ¶ 19.) The Complaint raises a claim for breach of contract,
seeks a declaratory judgment that Plaintiff may keep Defendant’s security deposit of
$12,733.96.
The Court held a hearing on the Motion on June 2, 2021. Defendant did not appear
at the hearing. Plaintiff has established that it is entitled to the default judgment it seeks.
Accordingly, IT IS HEREBY ORDERED that:
1.

Plaintiff’s Motion (Docket No. 12) is GRANTED;

2.

The Clerk of Court is DIRECTED to enter judgment in favor of Plaintiff
Farnam Street Financial, Inc. and against Defendant FabFad2020, Inc., in the
amount of $576,807.84;

3.

Plaintiff is entitled to retain the security deposit in the amount of $12,733.96;
and

4.

Plaintiff is entitled to repossession of the following equipment leased to
Defendant:

Manufacturer
Framis Italia

MFG/Part #
MX-204

Qty
1

Equipment Description
Weld and Cut Bonding Machine,
1100mm x 550mm x 1550mm,
80Kg, including: Base Machine
with 1 Heater, Spot Lamp, Drawer,
Vertical Roll Support, Tensioner
Metering Device, Silicone Rubber
Wheel Group 17mm-35SH, 20mm
Nozzle, Weld and Cut Device,
Protection Screen, White Table
with Beech Borders 120x60x4,
Table Support Structure, Pedals,
16A 3 Poles Socket, Tape Guide
8x1mm, Tape Guide 10x1mm,
Screwdriver 2.5, and Manual

2

Serial Number
EG 412

Framis Italia

MX-208

1

Framis Italia

MX-210

1

Framis Italia

MX-211

1

Edge Binding Bonding Machine,
EG 414
1100mm x 550mm x 1550mm,
80Kg, including: Base Machine
with 1 Heater, Spot Lamp, Drawer,
Vertical Roll Support, Tensioner
Metering Device, Upper Silicone
Rubber Wheel Group 12mm-70SH,
Lower Silicone Rubber Wheel
14mm-70SH, Nozzle C-Binding,
Side Arm, Protection Screen, White
Table with Beech Borders
120x60x4, Table Support Structure,
Pedals, 16A 3 Poles Socket, Edge
Binding Guide 16mm, and Manual
Weld and Fold Bonding Machine,
EG 415
1100mm x 550mm x 1550mm,
80Kg, including: Base Machine
with 1 Heater, Spot Lamp, Drawer,
Vertical Roll Support, Tensioner
Metering Device, Silicone Rubber
Wheel Group 17mm-35SH, 30mm
Nozzle, Horizontal Arm, Protection
Screen, White Table with Beech
Borders 120x60x4, Table Support
Structure, Pedals, 16A 3 Poles
Socket, Folding Guide 5mm, Tape
Guide 10x1mm, Screwdriver
2.5mm, and Manual
Folding Joining Machine, 1100mm EG 413
x 550mm x 1550mm, 80Kg,
including: Base Machine with 2
Heaters, Spot Lamp, Drawer,
Shaped Rubber Wheel Group
24mm/12mm-35SH, Heat
Conveyor 30mm, 30mm Nozzle,
Horizontal Arm, Protection Screen,
White Table with Beech Borders
120x60x4, Table Support Structure,
Pedals, 16A 3 Poles Socket,
Folding Guide 8mm, and Manual

3

Framis Italia

MU 280

1

Tukatech

1815

1

Tukatech

1

JK Group

MSJP44HDS8C

1

JK Group
JK Group
JK Group
JK Group
JK Group
JK Group

M501610K005000
M501651K005000
M501630K005000
M501615K005000
M501601K005000
KU45113

1
1
1
1
1
4

Ultrasonic Sewfree Sewing
Machine with One 13mm Width
Roller (EGR-015R), White Table
with Beech Borders 120x60x4, and
Pedals
TUKAcut Laser, 220v Laser
Cutting Machine with Automatic
Conveyor, 1800mm W x 1500mm
L Working Area, 120w Laser
Power, 20mm Lens, C02 Laser
Tube, (2) Exhausting Kits, (3)
Mirrors, and Industry Chiller
(CW5000)
TUKAcad Professional Edition
Software License
JP4 Printer, Impress 4180, 4 Print
Heads, 8 Color Printer, 260 sqm/h
Max. Speed (Double CMYK), Max.
Speed (8 Single Colors), 600 x 600
dpi Printing Resolution, 16 Gray
Levels, 4 to 72pl Drop Size, and
180-320 cm Printing Width
Digistar K-One Ink, Black, 5 KG
Digistar K-One Ink, Cyan, 5 KG
Digistar K-One Ink, Magenta, 5 KG
Digistar K-One Ink, Yellow, 5 KG
Digistar K-One Cleaner, 5 KG
Main Tank

UTSN043

HMSM1815W4190242

3498/17

LET JUDGMENT BE ENTERED ACCORDINGLY.

s/ Paul A. Magnuson

Dated: Thursday, June 3, 2021

Paul A. Magnuson
United States District Court Judge

4