IMPALA PLATINUM HOLDINGS LIMITED et al v. A-1 SPECIALIZED SERVICES AND SUPPLIES, INC.
MEMORANDUM AND ORDER THAT PLAINTIFFS' MOTION TO LIFT STAY, CONFIRM FINAL ARBITRATION AWARD, AND ENTER JUDGMENT IN CONFORMITY WITH FINAL ARBITRATION AWARD [ECF 42] IS GRANTED. IT IS FURTHER ORDERED THAT THE STAY OF PROCEEDINGS EFFECTED BY THIS CO URT'S 1/9/14 CONSENT ORDER IS HEREBY LIFTED. THE FINAL AWARD ENTERED BY THE LONDON COURT OF ARBITRATION ("LCIA"), LCIA NO. 142657, DATED 12/9/15, IS CONFIRMED. IN ACCORDANCE WITH THE TERMS OF THE AWARD, FINAL JUDGMENT IS HEREBY ENTERED IN FAVOR OF PLAINTIFFS IMPALA PLATINUM HOLDINGS LIMITED AND IMPALA REFINING SERVICES LIMITED (COLLECTIVELY, "IMPALA") AND AGAINST DEFENDANT A-1 SPECIALIZED SERVICES AND SUPPLIES, INC. ("A-1"), AS FOLLOWS: A. A-1 IS ORDERED TO PAY IMPALA DAMAGES IN THE AMOUNT OF $189,668,037.20. B. A-1 IS FURTHER ORDERED TO PAY IMPALA PRE-AWARD INTEREST IN THE AMOUNT OF $9,699,000, AS CALCULATED AND AGREED UPON BY IMPALA AND A-1. C. A-1 IS FURTHER ORDERED TO PAY IMPALA POST-JUDGMENT INTEREST IN THE AMOUNT OF $10,392.77 PER DAY, RUNNING FROM 12/10/15, FOR EACH DAY THAT THE AWARD REMAINS OUTSTANDING. D. A-1 IS FURTHER ORDERED TO PAY IMPALA THE AMOUNT OF $172,229 (THE U.S. DOLLAR EQUIVALENT, AS OF 12/9/15, OF THE GBP 115 ,021.38 AWARDED BY THE ARBITRATION PANEL), REPRESENTING THE REGISTRATION FEE AND ADVANCES PAID BY IMPALA ON ACCOUNT OF THE ARBITRATION COSTS OF THE PROCEEDINGS BEFORE THE LCIA. E. A-1 IS FURTHER ORDERED TO PAY IMPALA THE AMOUNT OF $1,844,064.62, BEING THE WHOLE OF IMPALA'S LEGAL AND OTHER COSTS INCURRED IN THE ARBITRATION PROCEEDING BEFORE THE LCIA. 4. DEFENDANT'S MOTION TO VACATE THE ARBITRATION AWARD [ECF 46] IS DENIED. 5. DEFENDANT'S MOTION FOR LEAVE TO FILE CORRECT EXHIBI T AND SUPPLEMENT RECORD IN SUPPORT OF MOTION TO VACATE [ECF 63] IS GRANTED, IN LIGHT OF PLAINTIFFS' NON-OPPOSITION. SIGNED BY HONORABLE MICHAEL M. BAYLSON ON 4/26/16. 4/26/16 ENTERED AND COPIES MAILED, E-MAILED. COPY FORWARDED TO ARBITRATION.(fdc) Modified on 4/26/16 (fdc).
IN THE UNITED STATES DISTRICT COURT
FOR THE EASTERN DISTRICT OF PENNSYLVANIA
IMPALA PLATINUM HOLDINGS
LIMITED, et al.
A-1 SPECIALIZED SERVICES AND
SUPPLIES, INC., et al.
ORDER AND ENTRY OF JUDGMENT
AND NOW, this 26th day of April, 2016 upon consideration of Plaintiffs’
Motion to Lift Stay, Confirm Final Arbitration Award, and Enter Judgment in Conformity with
Final Arbitration Award (ECF 42), and any response thereto, it is hereby ORDERED that
Plaintiffs’ Motion is GRANTED.
It is further ORDERED that:
The stay of proceedings effected by this Court’s January 9, 2014 Consent
Order is hereby lifted.
The Final Award entered by the London Court of Arbitration (“LCIA”), LCIA
No. 142657, dated December 9, 2015, is confirmed.
In accordance with the terms of the Award, final judgment is hereby
entered in favor of Plaintiffs Impala Platinum Holdings Limited and Impala Refining Services
Limited (collectively, “Impala”) and against Defendant A-1 Specialized Services and Supplies,
Inc. (“A-1”), as follows:
A-1 is ordered to pay Impala damages in the amount of
A-1 is further ordered to pay Impala pre-award interest in the amount
of $9,699,000, as calculated and agreed upon by Impala and A-1.
A-1 is further ordered to pay Impala post-judgment interest in the
amount of $10,392.77 per day, running from December 10, 2015, for
each day that the award remains outstanding.
A-1 is further ordered to pay Impala the amount of $172,229 (the U.S.
dollar equivalent, as of December 9, 2015, of the GBP 115,021.38
awarded by the arbitration panel), representing the registration fee and
advances paid by Impala on account of the arbitration costs of the
proceedings before the LCIA.
A-1 is further ordered to pay Impala the amount of $1,844,064.62,
being the whole of Impala’s legal and other costs incurred in the
arbitration proceeding before the LCIA.
Defendant’s Motion to Vacate the Arbitration Award (ECF 46) is DENIED
Defendant’s Motion for Leave to File Correct Exhibit and Supplement Record in
Support of Motion to Vacate (ECF 63) is GRANTED, in light of Plaintiffs’ nonopposition.
BY THE COURT:
/s/ Michael M. Baylson
MICHAEL M. BAYLSON
United States District Court Judge
O:\CIVIL 13\13-2930 impala platinum v. A-1 specialized\13cv2930 Order and Entry of Judgment 04252016.docx
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