Tow v. Amegy Bank N.A. et al
Filing
417
FINAL JUDGMENT entered. Case terminated on 3/31/15.(Signed by Judge Lee H Rosenthal) Parties notified.(leddins, 4)
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IN THE UNITED STATES DISTRICT COURT
FOR THE SOUTHERN DISTRICT OF TEXAS
HOUSTON DIVISION
RODNEY TOW, TRUSTEE,
§
§
§
§
§
§
§
§
§
Plaintiff,
VS.
JOHN H. SPEER,
Defendant.
CIVIL ACTION NO. H-11-3700
FINAL JUDGMENT
This judgment is entered on the jury verdicts returned on March 18, 2014 and June 11,
2014. In the first verdict, the jury made partial findings and the court accepted a partial verdict.
In the second verdict, after the trial of the issues not resolved in the first verdict, the jury
returned a unanimous verdict on all submitted questions.
Rodney Tow, Trustee, (“Tow”) moved for entry of judgment on the verdicts. This court
granted the motion in its memorandum and opinion issued on March 10, 2015.
Final judgment is entered, as follows:
1.
Tow takes nothing against John H. Speer (“Speer”) on Tow’s
claims of actually or constructively fraudulent transfers under TEX. BUS. & COM.
CODE § 24.005(a)(1) & (2)(A), as to the following transactions:
i.
Transfers to John Speer for Payments to Amegy Bank for the Partner
Buyout
Date
Amount
10/2/2006
$ 46,250.00
10/30/2006
$ 159,305.56
11/27/2006
$ 154,166.66
12/27/2006
$ 159,305.56
1
1/25/2007
$ 87,361.11
2/21/2007
$ 71,944.44
Transfers to Michael Manners for the Partner Buyout (Note Payments)
Date
Amount
10/2/2006
$ 900,000.00
11/2/2006
$ 169,500.00
12/8/2006
$ 219,000.00
1/8/2007
$ 364,500.00
2/8/2007
$ 291,000.00
3/9/2007
$ 232,500.00
Transfers to Donnie Lou Speer from First Duvall
Date
Amount
10/2/2006
$ 50,000.00
11/1/2006
$ 50,000.00
12/4/2006
$ 50,000.00
1/2/2007
$ 50,000.00
2/1/2007
$ 50,000.00
3/2/2007
$ 50,000.00
4/2/2007
$ 50,000.00
5/1/2007
$ 50,000.00
6/1/2007
$ 50,000.00
Transfers to Donnie Lou Speer for Salary
Date
Amount
10/13/2006
$ 7,493.27
10/31/2006
$ 7,493.27
2
11/15/2006
$ 7,493.28
11/30/2006
$ 7,493.27
12/15/2006
$ 7,493.28
12/29/2006
$ 7,493.27
Transfers to John Speer as Other Distributions
Date
Amount
9/27/2006
$ 1,000,000.00
10/6/2006
$ 150,000.00
10/31/2006
$ 227,248.60
11/6/2006
$ 150,000.00
12/1/2006
$ 150,000.00
1/4/2007
$ 150,000.00
2/2/2007
$ 150,000.00
3/14/2007
$ 150,000.00
4/4/2007
$ 150,000.00
4/13/2007
$ 1,587,009.00
4/13/2007
$ 870,128.00
5/1/2007
$ 150,000.00
7/5/2007
$ 150,000.00
8/6/2007
$ 150,000.00
9/4/2007
$ 150,000.00
10/2/2007
$ 150,000.00
11/2/2007
$ 150,000.00
12/4/2007
$ 150,000.00
1/4/2008
$ 150,000.00
3
7/1/2007
$ 4,799.90
7/15/2007
$ 4,799.90
8/1/2007
$ 4,799.90
8/15/2007
$ 4,799.90
9/1/2007
$ 4,799.90
9/15/2007
$ 4,799.90
10/1/2007
$ 4,799.90
10/15/2007
$ 4,799.90
11/1/2007
$ 4,799.90
11/15/2007
$ 4,799.90
12/1/2007
$ 4,799.90
12/15/2007
$ 4,799.90
1/1/2008
$ 3,607.21
1/15/2008
$ 3,607.21
2/1/2008
$ 3,607.21
2/15/2008
$ 3,607.21
3/1/2008
$ 3,607.21
3/15/2008
$ 3,607.21
4/1/2008
$ 3,607.21
2a.
Judgment is entered for Tow and against Speer as to the following
transfers, which are avoided as actually fraudulent transfers under TEX. BUS. & COM.
CODE § 24.005(a)(1):
Transfers to John Speer for Payments to Amegy Bank for the Partner Buyout
Date
Amount
1/3/2007
$ 10,000,000.00
4
4/2/2007
$ 79,652.78
4/25/2007
$ 77,083.33
5/29/2007
$ 79,652.78
7/2/2007
$ 2,577,083.33
7/25/2007
$ 62,951.39
8/30/2007
$ 59,739.59
9/28/2007
$ 57,812.50
11/2/2007
$ 55,260.41
11/29/2007
$ 53,125.00
1/4/2008
$ 2,553,854.17
2/13/2008
$ 40,104.17
2/27/2008
$ 27,187.50
3/28/2008
$ 28,784.72
5/6/2008
$ 26,041.67
6/2/2008
$ 25,833.33
6/30/2008
$ 25,000.00
Transfers to Michael Manners for the Partner Buyout (Note Payments)
Date
Amount
4/4/2007
$ 292,500.00
5/10/2007
$ 271,500.00
Transfers to Donnie Lou Speer from First Duvall
Date
Amount
7/5/2007
$ 50,000.00
8/2/2007
$ 50,000.00
9/4/2007
$ 50,000.00
5
10/1/2007
$ 50,000.00
11/1/2007
$ 50,000.00
12/3/2007
$ 50,000.00
1/2/2008
$ 50,000.00
Transfers to Donnie Lou Speer for Salary
Date
Amount
1/12/2007
$ 6,231.97
1/31/2007
$ 6,231.98
2/15/2007
$ 6,231.97
2/28/2007
$ 6,231.97
3/15/2007
$ 6,231.97
3/30/2007
$ 6,231.98
4/13/2007
$ 6,231.97
4/30/2007
$ 6,231.98
5/15/2007
$ 6,231.97
5/31/2007
$ 6,357.53
6/15/2007
$ 6,849.03
6/29/2007
$ 6,849.02
7/13/2007
$ 6,849.03
7/31/2007
$ 6,849.03
8/15/2007
$ 6,849.03
8/31/2007
$ 7,184.03
9/14/2007
$ 7,519.03
9/28/2007
$ 7,519.03
10/15/2007
$ 7,519.03
6
10/31/2007
$ 7,519.02
11/15/2007
$ 7,519.03
11/29/2007
$ 7,519.03
12/14/2007
$ 7,519.03
12/31/2007
$ 7,519.03
1/15/2008
$ 6,251.37
1/31/2008
$ 6,251.38
2/15/2008
$ 6,251.37
2/29/2008
$ 6,251.38
3/14/2008
$ 6,251.38
3/31/2008
$ 6,251.38
4/15/2008
$ 6,251.37
4/30/2008
$ 6,251.38
5/15/2008
$ 6,251.37
5/30/2008
$ 6,251.38
6/13/2008
$ 6,711.57
6/30/2008
$ 6,868.12
7/15/2008
$ 6,868.13
7/31/2008
$ 8,018.80
Transfers to John Speer as Other Distributions
Date
Amount
1/4/2007
$ 150,000.00
2/2/2007
$ 150,000.00
3/17/2007
$ 150,000.00
4/4/2007
$ 150,000.00
7
4/13/2007
$ 1,587,009.00
4/13/2007
$ 870,128.00
5/1/2007
$ 150,000.00
7/5/2007
$ 150,000.00
8/6/2007
$ 150,000.00
9/4/2007
$ 150,000.00
10/2/2007
$ 150,000.00
11/2/2007
$ 150,000.00
12/4/2007
$ 150,000.00
12/11/2007
$ 156,428.00
2.
1/4/2008
3.
2b. As an alternate ground for judgment for Tow and against Speer, the
$ 150,000.00
following transfers are also avoided as constructively fraudulent under TEX. BUS. & COM. CODE
§ 24.005(a)(2)(A):
Transfers to John Speer for Payments to Amegy Bank for the Partner Buyout
Date
Amount
1/3/2007
$ 10,000,000.00
1/25/2007
$ 87,361.11
2/21/2007
$ 71,944.44
4/2/2007
$ 79,652.78
4/25/2007
$ 77,083.33
5/29/2007
$ 79,652.78
7/2/2007
$ 2,577,083.33
7/25/2007
$ 62,951.39
8/30/2007
$ 59,739.59
8
9/28/2007
$ 57,812.50
11/2/2007
$ 55,260.41
11/29/2007
$ 53,125.00
1/4/2008
$ 2,553,854.17
2/13/2008
$ 40,104.17
2/27/2008
$ 27,187.50
3/28/2008
$ 28,784.72
5/6/2008
$ 26,041.67
6/2/2008
$ 25,833.33
6/30/2008
$ 25,000.00
Transfers to Michael Manners for the Partner Buyout (Note Payments)
Date
Amount
1/8/2007
$ 364,500.00
2/8/2007
$ 291,000.00
3/9/2007
$ 232,500.00
4/4/2007
$ 292,500.00
5/10/2007
$ 271,500.00
Transfers to Donnie Lou Speer from First Duvall
Date
Amount
7/5/2007
$ 50,000.00
8/2/2007
$ 50,000.00
9/4/2007
$ 50,000.00
10/1/2007
$ 50,000.00
11/1/2007
$ 50,000.00
12/3/2007
$ 50,000.00
9
1/2/2008
$ 50,000.00
Transfers to Donnie Lou Speer for Salary
Date
Amount
1/12/2007
$ 6,231.97
1/31/2007
$ 6,231.98
2/15/2007
$ 6,231.97
2/28/2007
$ 6,231.97
3/15/2007
$ 6,231.97
3/30/2007
$ 6,231.98
4/13/2007
$ 6,231.97
4/30/2007
$ 6,231.98
5/15/2007
$ 6,231.97
5/31/2007
$ 6,357.53
6/15/2007
$ 6,849.03
6/29/2007
$ 6,849.02
7/13/2007
$ 6,849.03
7/31/2007
$ 6,849.03
8/15/2007
$ 6,849.03
8/31/2007
$ 7,184.03
9/14/2007
$ 7,519.03
9/28/2007
$ 7,519.03
10/15/2007
$ 7,519.03
10/31/2007
$ 7,519.02
11/15/2007
$ 7,519.03
11/29/2007
$ 7,519.03
10
12/14/2007
$ 7,519.03
12/31/2007
$ 7,519.03
1/15/2008
$ 6,251.37
1/31/2008
$ 6,251.38
2/15/2008
$ 6,251.37
2/29/2008
$ 6,251.38
3/14/2008
$ 6,251.38
3/31/2008
$ 6,251.38
4/15/2008
$ 6,251.37
4/30/2008
$ 6,251.38
5/15/2008
$ 6,251.37
5/30/2008
$ 6,251.38
6/13/2008
$ 6,711.57
6/30/2008
$ 6,868.12
7/15/2008
$ 6,868.13
7/31/2008
$ 8,018.80
Transfers to John Speer as Other Distributions
Date
4.
Amount
12/11/2007
$ 156,428.00
Tow is awarded a money judgment against Speer on each of the avoided transfers.
1.
Prejudgment interest on the total amount of the avoided transfers is
awarded and computed at a rate of five percent (5%) per annum.
2.
Including prejudgment interest accrued at the rate of five percent
(5%) per annum, and after applying settlement credits, Speer is liable to pay Tow
$12,129,006.90.
11
3.
Speer is also liable to pay Tow $11,948.03 for reasonable court
4.
Speer is liable to pay Tow post-judgment interest at a rate of
costs.
$1,619.36 per day until this judgment is satisfied.
5.
6.
All relief not granted in this judgment is denied.
This is a final judgment.
SIGNED on March 31, 2015, at Houston, Texas.
______________________________________
Lee H. Rosenthal
United States District Judge
12
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