Free Motion for Bond - District Court of Colorado - Colorado

Case 1:00-cv-01282-JLK

Document 339

Filed 04/30/2008

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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 May 13, 2008, to increase the amount of their supersedeas bond to $4,940,620.02 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 December 20, 2007, in response to plaintiff's unopposed motion (Doc. # 334),

this Court ordered defendants to increase the amount of their supersedeas bond to $4,882,160.37 (Doc. # 335). As represented in said motion, the increase was required to secure post-judgment interest through May 1, 2008. On January 16, 2008, defendants filed a supplementary supersedeas bond in the amount of $304,600.37 (Doc. # 337), to bring the total amount of the supersedeas bond to $4,882,160.37.

Case 1:00-cv-01282-JLK

Document 339

Filed 04/30/2008

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2.

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

remain pending. On January 18, 2007, the Court of Appeals for the Tenth Circuit heard oral argument on the appeals from this Court's Final Judgment and took them under advisement. The Tenth Circuit has not issued any ruling or taken any other action as of the date of this Motion. 3. This Motion seeks a further increase in the bond amount for additional post-

judgment interest through August 24, 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. # 334, p. 3, ¶ 6. 4. James R. TenBrook, plaintiff's expert damages witness at the trial in this matter,

calculated the additional post-judgment interest through August 24, 2008, in the manner as set forth above, at $58,459.65. Plaintiff therefore moves the Court to order defendants to increase the total amount of their supersedeas bond to $4,940,620.02, 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 August 24, 2008 ($534,390.17). If the relief sought is granted, defendants would need to post an additional bond in the amount of $58,459.65, the amount calculated by Mr. TenBrook.

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Case 1:00-cv-01282-JLK

Document 339

Filed 04/30/2008

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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 do not oppose an Order to increase the amount of defendants' supersedeas bond to $4,940,620.02 by May 13, 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 $4,940,620.02 by May 13, 2008 in order to maintain the stay of execution of the judgments entered in this proceeding pending the outcome on appeal.

DATED: April 30, 2008

Respectfully submitted, s/ Bruce A. Featherstone 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 339

Filed 04/30/2008

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CERTIFICATE OF SERVICE I hereby certify that on April 30, 2008, 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/ Bruce A. Featherstone Bruce A. Featherstone 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] ATTORNEYS FOR PLAINTIFF THE PERSONNEL DEPARTMENT, INC.

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