Free Proposed Supersedeas Bond - District Court of Colorado - Colorado

Case 1:00-cv-01282-JLK

Document 343

Filed 08/20/2008

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IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLORADO Judge John L. Kane Case No. 00-cv-1282-JLK THE PERSONNEL DEPARTMENT, INC., Plaintiff, v. PROFESSIONAL STAFF LEASING CORPORATION, a Maryland corporation, and BALAJI RAMAMOORTHY, an individual, Defendants.

PLAINTIFF'S UNOPPOSED MOTION TO REQUIRE DEFENDANTS TO INCREASE THE AMOUNT OF THEIR SUPERSEDEAS BOND

Plaintiff, The Personnel Department, Inc., respectfully moves this Court to enter an order requiring defendants, by August 29, to increase the amount of their supersedeas bond to $5,008,173.96 in order to maintain the stay of execution of the judgments entered in this proceeding pending the outcome on appeal. The requested relief is unopposed. As grounds for this Motion, plaintiff states: 1. On April 30, 2008 in response to plaintiff's unopposed motion (Doc. # 339), this

Court ordered defendants to increase the amount of their supersedeas bond to $4,940,620.02 (Doc. # 340), in order to secure post-judgment interest through August 24, 2008. On May 8, 2008, defendants filed a supplementary supersedeas bond in the amount of $58,460.02 (Doc. # 342), bringing the total amount of the supersedeas bond to $4,940,620.02.

Case 1:00-cv-01282-JLK

Document 343

Filed 08/20/2008

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2.

A further increase in the bond amount is necessary as the parties' cross-appeals

remain pending in the Tenth Circuit. 3. This Motion seeks a further increase in the bond amount for additional post-

judgment interest through December 31, 2008. Post-judgment interest accrues on the principal amount of the judgments at the statutory rate of 3.89%, compounded annually, from the date that the judgments were entered (August 25, 2005). See 28 U.S.C. § 1961; Bonjorno v. Kaiser Aluminum & Chemical Corp., 494 U.S. 827, 835 (1990). Post-judgment interest accrues on the costs awarded to plaintiff at the statutory rate of 3.89% annually from the date that the costs were taxed by the court clerk (September 22, 2005). See 28 U.S.C. § 1961; Wheeler v. John Deere Co., 986 F.2d 413, 416 (10th Cir. 1993); Doc. # 339, p. 2, ¶ 3. 4. James R. TenBrook, plaintiff's expert damages witness at the trial in this matter,

calculated the additional post-judgment interest through December 31, 2008, in the manner as set forth above, at $67,553.94. Plaintiff therefore moves the Court to order defendants to increase the total amount of their supersedeas bond to $5,008,173.96, which figure represents the sum of (i) the principal amount of the judgments ($4,382,182.00); (ii) the costs taxed in plaintiff's favor on the judgments ($24,047.85); and (iii) post-judgment interest on these amounts at the statutory rate of 3.89% compounded annually from the date of judgment, August 25, 2005, and the date of the award of costs, September 22, 2005, through December 31, 2008 ($601,944.11). 5. Plaintiff reserves the right to seek a further increase in the bond amount for

additional post-judgment interest as appropriate. 6. Pursuant to D.C.COLO.LCivR 7.1 (a), counsel for plaintiff discussed the grounds

for this motion and the relief requested with counsel for defendants, and counsel for defendants

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Case 1:00-cv-01282-JLK

Document 343

Filed 08/20/2008

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do not oppose an Order to increase the amount of defendants' supersedeas bond to $5,008,173.96 by August 29, 2008. 7. Plaintiff attaches hereto for review, consideration, and entry by the Court a form

of order granting the relief requested herein. WHEREFORE, plaintiff requests the Court order defendants to increase the amount of their supersedeas bond to $5,008,173.96 by August 29, 2008 in order to maintain the stay of execution of the judgments entered in this proceeding pending the outcome on appeal.

DATED: August 20, 2008

Respectfully submitted, s/ Jayme N. Moss Bruce A. Featherstone Jayme N. Moss FEATHERSTONE PETRIE DESISTO LLP 600 17th Street, Suite 2400S Denver, CO 80202-5424 Telephone: (303) 626-7100 Facsimile: (303) 626-7101 E-mail: [email protected] E-mail: [email protected] ATTORNEYS FOR PLAINTIFF THE PERSONNEL DEPARTMENT, INC.

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Case 1:00-cv-01282-JLK

Document 343

Filed 08/20/2008

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CERTIFICATE OF SERVICE I hereby certify that on August 20, I electronically filed the foregoing PLAINTIFF'S UNOPPOSED MOTION TO REQUIRE DEFENDANTS TO INCREASE THE AMOUNT OF THEIR SUPERSEDEAS BOND with the Clerk of Court using the CM/ECF system, which will send notification of such filing to the following attorneys of record at the listed email addresses: Stanley H. Goldschmidt Roetzel & Andress, LPA [email protected] Tamir Damari Roetzel & Andress, LPA [email protected] Robert C. Troyer Hogan & Hartson L.L.P. [email protected] s/ Vicki O'Neill

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