ExxonMobil Oil Corporation v. TIG Insurance Company

Filing 52

JUDGMENT: It is HEREBY ORDERED, ADJUDGED, AND DECREED: That for the reasons stated in the Court's Opinion and Order dated May 18, 2020, the Award of the Arbitral Tribunal dated August 14, 2019 ("Award") (Dkt. 38-1) is CONFIRMED ; and JUDGMENT IS HEREBY ENTERED on the Award in favor of Petitioner ExxonMobil Oil Corporation ("Mobil") and against Respondent TIG Insurance Company ("TIG") (a) in the amount of $33,010,245.90, representing the  6;25,000,000 awarded in the Award, plus pre-judgment interest on that amount accruing (pursuant to N.Y. C.P.L.R. §§ 5001, 5002, and 5004) at a rate of 9% per annum in the amount of $8,010,245.90, from October 30, 2016, thr ough May 22, 2020; and (b) in the further amount of $6,147.54 per day in pre-judgment interest, accruing at the same 9% per annum, from May 23, 2020, through the date on which this Judgment is entered. This judgment shall accrue post-judgment interest as mandated in 28 U.S.C. § 1961. The Clerk of Court is directed to close this case. (Signed by Judge Edgardo Ramos on 5/26/2020) (Attachments: # 1 Appeal Package) (mro)

Case 1:16-cv-09527-ER Document 52 Filed 05/26/20 Page 1 of 1

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

5/26/2020

EXXONMOBIL OIL CORPORATION,
Petitioner,
16 Civ. 9527 (ER)

v.
TIG INSURANCE COMPANY,
Respondent.

It is HEREBY ORDERED, ADJUDGED, AND DECREED: That for the reasons stated
in the Court’s Opinion and Order dated May 18, 2020, the Award of the Arbitral Tribunal dated
August 14, 2019 (“Award”) (Dkt. 38-1) is CONFIRMED; and
JUDGMENT IS HEREBY ENTERED on the Award in favor of Petitioner ExxonMobil
Oil Corporation (“Mobil”) and against Respondent TIG Insurance Company (“TIG”) (a) in the
amount of $33,010,245.90, representing the $25,000,000 awarded in the Award, plus pre-judgment
interest on that amount accruing (pursuant to N.Y. C.P.L.R. §§ 5001, 5002, and 5004) at a rate of
9% per annum in the amount of $8,010,245.90, from October 30, 2016, through May 22, 2020;
and (b) in the further amount of $6,147.54 per day in pre-judgment interest, accruing at the same
9% per annum, from May 23, 2020, through the date on which this Judgment is entered. This
judgment shall accrue post-judgment interest as mandated in 28 U.S.C. § 1961.
The Clerk of Court is directed to close this case.

May 26
Dated: ________ ___, 2020
New York, New York

__________________________
Edgardo Ramos, U.S.D.J.

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