Sea Song Farms, LLC v. GeoStar Corporation, No. 5:2010cv00023 - Document 21 (E.D. Ky. 2016)

Court Description: MEMORANDUM OPINION AND ORDER: Plaintiff's 20 Motion for PreJudgment Interest is GRANTED. Judgment will be entered by separate order. Signed by Judge Joseph M. Hood on 2/29/2016. (STC)cc: COR

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Sea Song Farms, LLC v. GeoStar Corporation Doc. 21 UNITED STATES DISTRICT COURT EASTERN DISTRICT OF KENTUCKY CENTRAL DIVISION at LEXINGTON SEA SONG FARMS, LLC, ) ) ) ) ) ) ) ) ) Plaintiff, v. GEOSTAR CORPORATION, Defendant. Civil Case No. 10-cv-23-JMH MEMORANDUM OPINION & ORDER *** This matter is before the Court upon Plaintiff’s Motion for Prejudgment Interest [DE 20]. Court is conceded adequately its advised liability under In reviewing this motion, the and notes Plaintiff’s that Defendant breach of has contract claim in Count I of the Complaint, the Court has granted summary judgment in favor of Plaintiff with respect to Count I, and Plaintiff’s claims for conversion (Count II) and unjust enrichment (Count III) are ripe for dismissal. Prejudgment interest is to be awarded as a matter of law to the prevailing party when the damages are liquidated. Travelers Prop. Cas. Co. of Amer. v. Hillerich & Bradsby Co., Inc., 598 F.3d 257, 275 (6th Cir. 2010). Damages are liquidated when the amount in question is either agreed upon by the parties or is fixed by operation of law. Nucor Corp. v. General Elec. Co., 812 S.W.2d 136, 141 (Ky. 1991). Defendant admitted that it owed Plaintiff $2,110,038.52; and the Court has granted summary Dockets.Justia.com judgment in liquidated that and precise it is amount. entitled to Plaintiff’s 8% per damages annum are prejudgment interest as a matter of course. Id. Under Kentucky law, this Court interest. may Travelers award Prop. simple Cas. or Co., compound 598 F.3d at 360.010; (citing 275 KRS Reliable Mech., Inc. v. Naylor Indus. Servs., Inc., 125 S.W.3d 856 (Ky. Ct. App. 2003)). In this instance and in the absence of argument to the contrary, the Court concludes that Plaintiff is entitled to Plaintiff, compound compound prejudgment interest in interest. the As amount submitted of by $963,141.11 (through November 12, 2014), and $675.42 per diem thereafter through entry of judgment is warranted. Accordingly, Prejudgment IT Interest IS [DE ORDERED 20] is that GRANTED. entered by separate order. This the 29th day of February, 2016. 2 Plaintiff’s Motion Judgment will for be

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