Granite State Insurance Company v. Patriot Solutions LLC

Filing 56

ORDER granting 55 Motion for Judgment Based on ADR Settlement. Signed by Honorable Mary Geiger Lewis on 5/9/2017.(abuc)

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UNITED STATE DISTRICT COURT DISTRICT OF SOUTH CAROLINA GREENVILLE DIVISION __________________________________________ GRANITE STATE INSURANCE COMPANY ) ) Plaintiff, ) ) vs. ) Civil Action No.6:15-CV-04908 ) PATRIOT SOLUTIONS, LLC ) ) Defendant. ) __________________________________________) CONSENT JUDGMENT This Consent Judgment is agreed to by Defendant Patriot Solutions, LLC (“Patriot”) (the “Consent Judgment”). Summary of Concurrent Settlement Agreement 1. Pursuant to a duly and concurrently executed Settlement Agreement (the “Settlement Agreement”1), Patriot agreed to pay a sum certain, in installments, to Granite State Insurance Co. (“Granite State”) to settle a dispute. 2. Under the Settlement Agreement, Patriot’s failure to make timely installment payments or cure within the requisite time period permits entry of this Consent Judgment. 3. Pursuant to the Settlement Agreement, counsel for Granite State agreed to hold the instant Consent Judgment in escrow so long as Patriot made timely installment payments. 1 Attached hereto as Exhibit A and incorporated herein by reference. Patriot’s Breach of the Settlement Agreement 4. Patriot breached the Settlement Agreement by failing to timely pay an installment due under the Settlement Agreement or cure that failure in a timely fashion (the “Default”). 5. As a consequence of the Default and, as permitted by the Settlement Agreement, Granite State has submitted this Consent Judgment for entry by this Court. Miscellaneous Terms 6. This Consent Judgment may be signed in counterparts, with each counterpart deemed an original. 7. Any photocopy, facsimile copy or any other copy of a signature affixed to this stipulation shall be deemed an original signature for all purposes, including any request for entry of judgment pursuant to this Consent Judgment. Agreed Judgment Amount 8. Pursuant to the Settlement Agreement, Patriot stipulates to entry of a judgment of $258,000, less any installment payments made prior to entry of a final judgment; (b) attorneys’ fees incurred by Granite State in having to enforce the Settlement Agreement, where the total sum of attorneys’ fees shall not exceed $1,000; and (c) prejudgment interest of 8.75% running from the Effective Date of the Settlement Agreement through the date of this Court’s entry of a final judgment. 9. Pursuant to the Settlement Agreement, Patriot shall be granted a credit in the amount of $0.00, which represents the sum of the installment payments Patriot made to Granite State pursuant to the Settlement Agreement. 2 IT IS THEREFORE ORDERED, ADJUDGED, AND DECREED THAT a judgment should be entered in favor of Granite State in the amount of $259,000.00, plus post-judgment interest at the statutory rate of 7.75%, which shall run from the date of this judgment until such time as this judgment has been fully satisfied by Patriot; provided, however, that the total of prejudgment interest and postjudgment interest taken together shall not exceed $1,000. s/Mary Geiger Lewis ___________________________ Mary Geiger Lewis United States District Judge May 9, 2017 Columbia, South Carolina 3 1 HEREBY CONSENT TO THIS JUDGMENT: Patriot Sl ^^ STATEOF SOUTH CAROLINA ) COUNTY OF ',-ft. (SVY&I^^I'I If ) SUBSCRIBED,SWORNANDACKNOWLEDGEDto before me personally this 80"' day of March, 2017 by ^31 y3 who represents to me that he is the duly authorized corporate representative ATPatriot SMutions, LLC. My Commission Expires: ) lr l ^ 3uO<S </ ~

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