Wells Fargo Financial Leasing, Inc. v. Boykin et al

Filing 9

AMENDED DEFAULT JUDGMENT against Defendants. Signed by District Judge Carlton W. Reeves on 4/16/2015. (kf)

IN THE UNITED STATES DISTRICT COURT
FOR THE SOUTHERN DISTRICT OF MISSISSIPPI
NORTHERN DIVISION
WELLS FARGO FINANCIAL LEASING,
INC.
v.

PLAINTIFF
CIVIL ACTION NO. 3:14-cv-889-CWR-FKB

CARL W. BOYKIN, JR. AND MONICA
BOYKIN

DEFENDANTS

AMENDED ORDER GRANTING MOTION FOR DEFAULT JUDGMENT
This cause comes on to be heard on the Motion for Default Judgment filed by Plaintiff
Wells Fargo Financial Leasing, Inc. (“Wells Fargo”), Docket No. 7. Defendants Carl and Monica
Boykin (the “Boykins”) have not responded to Plaintiff’s motion. The Court, having considered
said motion and proof in support thereof, does find and adjudicate as follows:
On April 27, 2007, the Boykins entered into several financial agreements with Wells
Fargo. The Boykins first executed a Building Lease Agreement, whereby Wells Fargo leased to
the Boykins four new poultry houses. See Pl.’s Mot. for Def. Judg. at 2. The Boykins executed a
Mississippi Development Authority Note (“MDA Note”) in connection with the credit facilities.
Id. In addition, the parties entered into an Equipment Lease Agreement, in which, among other
things, Wells Fargo leased a John Deere generator package and hookup. Id. In separate
documents, the parties executed a payment plan, whereby the Boykins agreed to make estimated
annual payments under the Equipment Lease for a period of ten years. Id.
The Boykins eventually defaulted pursuant to the terms and conditions of the Lease
Agreements and the MDA Note. Id. at 3. On May 9, 2014, Wells Fargo foreclosed on its
collateral and gained the property at the foreclosure sale with a bid price of $500,000. Id. The
amount due to Wells Fargo after the foreclosure was $241,832.37. Id.

On November 17, 2014, Wells Fargo filed the instant action against the Defendants. In its
motion, Wells Fargo claims that it is entitled to a judgment “in the amount of $241,832.37, plus
reasonable attorney’s fees pursuant to the Lease Agreements and the MDA note in the amount of
$24,000.00, post-judgment interest at the legal rate of 8.00% per annum and all costs of court.”
Id.
In light of the foregoing, the Court finds that a Default Judgment is appropriate. The
Court, however, does not agree with Wells Fargo’s assessment of attorneys’ fees. Wells Fargo
must submit additional proof in order for the Court to determine its reasonable attorneys’ fees.
The Court will assess the reasonableness of the attorneys’ fees according to the standards
enunciated in Johnson v. Georgia Highway Express, Inc., 488 F.2d 714 (5th Cir. 1974).1
IT IS HEREBY ORDERED AND ADJUDGED that Default Judgment is entered in
favor of Wells Fargo against the Defendants in the amount of $241,832.37, with post-judgment
interest accruing from this day forward at the federal interest rate of 0.22%.
IT IS FURTHER ORDERED that reasonable attorneys’ fees and costs shall be
determined upon sufficient proof submitted by Plaintiffs.
SO ORDERED, this the 16th day of April, 2015.

s/ Carlton W. Reeves
UNITED STATES DISTRICT JUDGE
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The twelve Johnson factors are: (1) the time and labor required; (2) the novelty and difficulty of the
questions; (3) the skill requisite to perform the legal service properly; (4) the preclusion of employment by the
attorney due to acceptance of the case; (5) the customary fee; (6) whether the fee is fixed or contingent; (7) time
limitations imposed by client or the circumstances; (8) the amount involved and the results obtained; (9) the
experience, reputation and ability of the attorneys; (10) the undesirability of the case; (11) the nature and length of
the professional relationship with the client; and (12) awards in similar cases. See Union Asset Mgmt. Holding A.G.
v. Dell, Inc., 669 F.3d 632, 642 n. 25. See also JPMorgan Chase Bank, N.A. v. Gonzalez, No. SA-12-CV-105-XR,
2013 WL 321779 (W.D. Tex. Jan. 28, 2013); Bank v. McDonough, No. 6:14-CV-860-Orl-41DAB, 2015 WL 269246
(M.D. Fla. Jan. 21, 2015) (adopting report and recommendation); Wells Fargo Equipment Finance, Inc. v. MidSouth Services, Inc., No. 10-2970-KDE-SS, 2012 WL 669302 (E.D. La. Feb. 29, 2012) (adopting report and
recommendation).

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