AmTrust North America, Inc. et al v. Safebuilt Insurance Services, Inc., No. 1:2016cv06033 - Document 52 (S.D.N.Y. 2016)

Court Description: OPINION AND ORDER GRANTING PETITIONER'S MOTION FOR JUDGMENT AGAINST RESPONDENT re: 5 MOTION for Judgment and Turn Over Order Against Safebuilt Insurance Services, Inc.. filed by Technology Insurance Company, Inc., Pacific Re , Inc., AmTrust North America, Inc., Pac Re 5-AT.It is hereby ORDERED, ADJUDGED, and DECREED: That, for the reasons stated above, Petitioners' Motion for Judgment against SIS is GRANTED; That Respondent Safebuilt Insurance Services, Inc., having as its principal place of business at 3250 Gray Hawk Court, Carlsbad, California, 92010, shall pay to Petitioners: 1. The sum of $7,833,474.29 as follows: a. $6,373,244 to be deposited by Petitioners in the "Loss Corridor Tru st Account" established under the terms of the Reinsurance Agreement as collateral for the payment of claims covered by and subject to the terms of the Reinsurance Agreement; and b. $1,460,230.29 as reimbursement for net outstanding third-p arty administrator fees paid by Petitioners and reimbursable by Judgment Debtors Pac Re and Cell 5 pursuant to the terms of the Reinsurance Agreement; plus 2. Interest as awarded as follows: a. Pre-judgment interest on the $1,460,230.29 due and payable under paragraph 1(b) above at the rate of 4% per annum from September 8, 2014 through October 9, 2015, in the amount of $58,569.24; and b. On all sums awarded provided for in paragraphs 1 and 2(a) above, remaining unpaid after Octo ber 9, 2015, totaling the liquidated sum of $7,892,043.53, at the New York statutory post-judgment rate of 9% per annum until paid in full. This constitutes the decision, order and judgment of the court. The Clerk of the Court is directed to remove Docket No.5 from the Court's list of pending motions and to close this case. (Signed by Judge Colleen McMahon on 11/3/2016) (kgo)