Bank of America, N.A. v. Asesd, LLC et al

Filing 60

ORDER re: 59 Report and Recommendations. For the reasons stated herein and therein, the Court adopts the Report. The Clerk of the Court is respectfully requested to enter judgment in favor of Plaintiff Gulf Coast Bank and Trust Co. and against ASESD, LLC and Norman Kaishjointly and severally in the total amount of $446,945.86, as follows: $211,351.40 for unpaid principal; $167,730.52 for unpaid interest; and $67,863.94 for attorneys' fees and costs. Plaintiff is also awarded post-judgment interest from the date default judgment was entered. The Clerk of Court is also respectfully requested after entering judgment to close this case as to Defendants ASESD, LLC and Norman Kaish. (Signed by Judge Richard M. Berman on 12/4/2014) (kgo)

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
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GULF COAST BANK AND TRUST CO.,
Plaintiff,
-against-

II Civ. 5023 (RMB) (RLE)
ASESD, LLC, NORMAN KAISH, and
LEONARD TAUB,

ORDER

Defendants.

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I.

Background
The substantive and procedural background of this case are set forth in the thoughtful and

comprehensive report and recommendation of Magistrate Judge Ronald L. Ellis, dated August
29, 2014 ("Report").
Among other things, the Report recommends that Plaintiff is entitled to recover against
ASESD, LLC and Norman Kaish (who have failed to answer or otherwise appear throughout this
case) principal and interest under a promissory note, dated December II, 2006, as well as
attorneys' fees and costs, and post-judgment interest. (Report at 8, II.) Specifically, Judge Ellis
recommended an award consisting of: (I) $211,351.40 in unpaid principal; (2) $167,482.19 in
unpaid interest; and (3) $67,863.94 in attorneys' fees and costs. (Id. at 8, II.)
The Report advised that "the parties shall have fourteen (14) days after being served with
a copy of the recommended disposition to file written objections to this Report and
Recommendation," and "[f]ailure to file timely objections shall constitute a waiver of those
objections." Mat 12.) To date, no party has filed objections to the Report.

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For the reasons set forth below, the Court adopts the recommendations of the
Report. It respectfully makes a minor clerical adjustment, adding $248.33 in interest
awarded to Plaintiff.
II.

Legal Standard
The Court may adopt those portions of a magistrate judge's report to which no objections

have been made and which are not clearly erroneous. See Fed. R. Civ. P. 72(b); DeLeon v.
Strack, 234 F.3d 84,86-87 (2d Cir. 2000); Santana v. United States, 476 F. Supp. 2d 300, 302
(S.D.N.Y. 2007). A district judge "may accept, reject, or modifY, in whole or in part, the
findings and recommendations of the magistrate judge." 28 U.S.C. § 636(b)(1); see also Fed. R.
Civ. P. 72(b); DeLeon, 234 F.3d at 86-87.

III.

Analysis
Having conducted a review of the Report (and applicable legal authorities), the Court

finds that the Report is not clearly erroneous and is in conformity with the law. There appears,
as noted, only to be a minor computational error in the Report's calculation of the interest due to
Plaintiff because the number of days for which interest should be paid is 1,114 rather than 1,1 07
days.
Judge Ellis calculated the sums owed to Plaintiff based upon the record herein, including
the complaint, affidavits dated May 30, 2012, November 14,2012, and January 3, 2014
submitted by Plaintiff's counsel, and the exhibits appended to those affidavits, which include,
among other things, the promissory note, and time sheets showing the hours worked by
Plaintiff's counsel and court costs. (See Report at 7-10.)

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IV.

Conclusion & Order
For the reasons stated herein and therein, the Court adopts the Report. The Clerk of the

Court is respectfully requested to enter judgment in favor of Plaintiff Gulf Coast Bank and Trust
Co. and against ASESD, LLC and Norman Kaishjointly and severally in the total amount of
$446,945.86, as follows: $211,351.40 for unpaid principal; $167,730.52 for unpaid interest; and
$67,863.94 for attorneys' fees and costs. Plaintiff is also awarded post-judgment interest from
the date default judgment was entered.
The Clerk of Court is also respectfully requested after entering judgment to close this
case as to Defendants ASESD, LLC and Norman Kaish.

Dated: New York, New York
December 4, 2014
RICHARD M. BERMAN, U.S.D.J.

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