HICA EDUCATION LOAN CORPORATION v. RADWAN
Filing
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ORDER granting 14 Motion for Default Judgment in the sum of $9,731.17 in favor of pltf. HICA Education Loan Corporation and against deft. Sherif S. Radwan ***CIVIL CASE TERMINATED. Signed by Judge Jose L. Linares on 9/6/2011. (nr, )
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NOT FOR PUBLICATION
CLOSED
UNITED STATES DISTRICT COURT
DISTRICT OF NEW JERSEY
HICA EDUCATION LOAN
CORPORATION,
Civil Action No.: 11-698 (JLL)
ORDER
Plaintiff,
v.
SHERIF S. RADWAN,
Defendant.
This matter having come before the Court by way of Plaintiff HICA Education Loan
Corporation (“HICA” or “Plaintiff”)’s Motion for Default Judgment pursuant to Federal Rule of
Civil Procedure 55(b)(2) as to Defendant Sherif S. Radwan (“Defendant” or “Radwan”) [Docket
Entry No. 14]. This motion is unopposed. The Court has considered Plaintiff’s submissions and
it appearing that:
1.
Plaintiff filed its Complaint with this Court on February 7, 2011 requesting judgment and
damages against Defendant Radwan for defaults on two (2) promissory notes of which
Plaintiff is the owner and/or holder.
2.
Defendant Radwan is an individual who is a resident of New Jersey who signed two
promissory notes payable to Key Bank of Maine, Augusta, Maine, in the original
principal amounts of $4,000 (signed on January 20, 1989) and $8,000 (signed on
September 18, 1989).
3.
Defendant Radwan was properly and duly served with a Summons and Complaint on
March 8, 2011[Docket Entry No. 4].
4.
Defendant Radwan has failed to answer or otherwise appear in this action.
5.
Plaintiff requested that the Clerk of the Court enter default against Defendant Radwan,
and the Clerk of the Court accordingly entered default against Defendant on May 9, 2011
[Docket Entry No. 8].
6.
Plaintiff then filed a Motion for Default Judgment with this Court on May 2, 2011
[Docket Entry No. 11]. This Court denied that motion without prejudice, requesting
Plaintiff to provide specific figures as to the amount of pre- and post-judgment interest as
well as documentation in support of such amount [Docket Entry No. 12].
7.
Plaintiff accordingly filed a Renewed Motion for Default Judgment [Docket Entry No.
14], specifying its requested judgment in the amount of $9,731.17, including principal,
prejudgment interest and late fees as of September 6, 2011. In addition, Plaintiff
requested that the Court order post-judgment interest at the contractual yearly rate agreed
upon by the parties, namely that interest rate equal to a variable rate calculated by the
Secretary of the Department of Health and Human Services for each calendar quarter, and
computed by determining the average of the bond equivalent rates for the ninety-one day
U.S. Treasury Bills auctioned during the preceding quarter, plus 3% percent, rounding
this figure up to the nearest one-eight percent.
Accordingly, IT IS on this 6th day of September, 2011,
ORDERED that Plaintiff’s Renewed Motion for Default Judgment [Docket Entry No.
11] is GRANTED, and Plaintiff is awarded judgment against Defendant for the sum of
$9,731.17, comprised of the following amounts:
(a) $ 7,356.57 in principal amount;
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(b) $ 2,374.60 in prejudgment interest; and it is further
ORDERED that this judgment shall bear interest from the date of this judgment until it is
paid at a yearly rate of interest which is equal to a variable rate calculated by the Secretary of the
Department of Health and Human Services for each calendar quarter, and computed by
determining the average of the bond equivalent rates for the ninety-one day U.S. Treasury Bills
auctioned during the preceding quarter, plus 3% percent, rounding this figure up to the nearest
one-eighth of one percent; and it is further
ORDERED that the Clerk shall close its file in this matter.
IT IS SO ORDERED.
/s/ Jose L. Linares
United States District Judge
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