Triad Packaging, Inc. et al v. SupplyONE, Inc.

Filing 163

JUDGMENT (1) In favor of plfs for SupplyOne's breach of Asset Purchase Agmt in amt of $211,363; (2)In favor of dft on its cntclm alleging breach of Asset Purchase Agmt by plfs in amt of $332,605; (3) In favor of dft on plf Wetmore's claim alleging breach of Employment Agmt, $.0; (4) Pursuant to Escrow Agmt, Escrow Agent, PNC Bank, is hereby directed to disburse funds in escrow as follows: $123,571 to plfs and $51,429 to dft, with any ne t interest or increase by investment that has accrued to be distributed proportionately; (5) Parties' respective contractual damage awards as set forth in paragraphs one and two above are augmented and to this extent paid pursuant to the distrib ution of the escrow funds: Plfs' escrow distribution of $123,571 is combined with its contractual damages award of $211,363, for a gross recovery of $334,934; dft's escrow distribution of $51,429 is likewise added to it s award of $332,605, for a gross sum of $384,034; (6) The Promissory Note is to be paid according to the Memorandum and Order of 9/26/2013; (7) Pretrial interest shall be calculated at the statutory rate of 8% per annum from 5/30/2009, and shall apply only to the contractual damages portion of the parties' respective awards (Plaintiff: $211,363 and Defendant: $332,605; and (8) The parties shall each bear their own costs. Signed by District Judge Richard Voorhees on 9/26/2013. (cbb)

IN THE UNITED STATES DISTRICT COURT
FOR THE WESTERN DISTRICT OF NORTH CAROLINA
STATESVILLE DIVISION
CIVIL DOCKET NO. 5:10CV5-RLV

TRIAD PACKAGING, INC., and
LOUIS S. WETMORE,
Plaintiffs,

)
)
)
)
v.
)
)
SUPPLYONE, INC.,
)
Defendant / Third-Party Plaintiff,
)
)
v.
)
)
DURHAM BOX COMPANY,
)
Third-Party Defendant.
)
___________________________________ )

JUDGMENT

THIS MATTER is before the Court for purposes of directing entry of judgment pursuant
to the three individual jury verdicts rendered on May 23, 2013, and the September 26, 2013
Memorandum and Order addressing the parties’ respective post-trial motions.
IT IS HEREBY ORDERED AND ADJUDGED that JUDGMENT is entered as
follows:
1) In favor of Plaintiffs Triad Packaging, Inc., and Louis Wetmore (and ThirdParty Defendant Durham Box Company) for SupplyOne’s breach of the Asset
Purchase Agreement in the amount of $211, 363;
2) In favor of Defendant / Third-Party Plaintiff SupplyOne on its counterclaim
alleging breach of the Asset Purchase Agreement by Plaintiffs in the amount of
$332,605;
3) In favor of SupplyOne on Plaintiff Louis Wetmore’s claim alleging breach of
the Employment Agreement, $-0-;

4) Pursuant to the Escrow Agreement, the Escrow Agent, PNC Bank, is hereby
directed to disburse the funds in escrow as follows: $123,571 to Plaintiffs and
$51,429 to Defendant SupplyOne, with any net interest or increase by investment
that has accrued to be distributed proportionately;
5) The parties’ respective contractual damage awards as set forth in paragraphs
one and two above are augmented and to this extent paid pursuant to the
distribution of the escrow funds: Plaintiffs’ escrow distribution of $123,571 is
combined with its contractual damages award of $211,363, for a gross recovery of
$334,934; Defendant’s escrow distribution of $51,429 is likewise added to its
award of $332,605, for a gross sum of $384,034;
6) The Promissory Note is to be paid according to the Memorandum and Order of
September 26, 2013;
7) Pretrial interest shall be calculated at the statutory rate of 8% per annum from
May 30, 2009, and shall apply only to the contractual damages portion of the
parties’ respective awards (Plaintiff: $211,363 and Defendant: $332,605); and
8) The parties shall each bear their own costs.

Signed: September 26, 2013

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