Valtus Capital Group, LLC v. Parq Equity Limited Partnership et al, No. 1:2019cv04737 - Document 119 (S.D.N.Y. 2020)

Court Description: ORDER OF FINAL JUDGMENT: THEREFORE final judgment is hereby entered in favor of Valtus and against Defendants, Parq Equity Limited Partnership, Parq Holdings Limited Partnership, Parq Vancouver Limited Partnership, Parq Vancouver ULC, and 1010094 B.C. Ltd. ("Defendants"), in the amounts of: (1) CAD$6,679,736.68 (for past due fees); and (2) USD$39,752.89 (for expenses). These amounts include pre-judgment interest accruing: (1) on the past due fees from the dates on whic h each of the Bridge Loan, First Interim Advance, Second Interim Advance, Second Lien Loan, and Third Lien Loan funded until December 30, 2020 at the rate of 9% per annum; and (2) on the incurred and unpaid expenses from the funding of the Th ird Lien Loan until December 30, 2020 at the rate of 9% per annum. IT IS FURTHER ORDERED that, in addition to the above amounts, Valtus shall recover from Defendants, pursuant to Fed. R. Civ. P. 54(d)(1) and 28 U.S.C. 1961, costs and post-judgment interest on past due fees and expenses, respectively. (Signed by Judge Denise L. Cote on 12/30/2020) (jca)

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Valtus Capital Group, LLC v. Parq Equity Limited Partnership et al Doc. 119 Case 1:19-cv-04737-DLC Document 119 118 Filed 12/30/20 12/22/20 Page 1 of 3 UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK _______________________________________________ VALTUS CAPITAL GROUP, LLC Plaintiff, 19 Civ. 4737 (DLC) v. PARQ EQUITY LIMITED PARTNERSHIP, PARQ HOLDINGS LIMITED PARTNERSHIP, PARQ VANCOUVER LIMITED PARTNERSHIP, PARQ VANCOUVER ULC, and 1010094 B.C. LTD., Defendants. _______________________________________________ ORDER OF FINAL JUDGMENT WHEREAS the Court granted summary judgment in favor of Plaintiff, Valtus Capital Group, LLC (“Valtus”), on October 9, 2019, finding that Valtus was entitled to fees based on the Bridge Loan, Second Interim Advance, and Third Lien Loan (as those terms are defined in the Court’s October 9, 2019 Order) (Dkt. No. 52); and WHEREAS the Court granted summary judgment in favor of Valtus on December 15, 2020, finding that Valtus was also entitled to fees based on the First Interim Advance and Second Lien Loan (as those terms are defined in the Court’s December 15, 2020 Order), as well as for reimbursement of certain related expenses that were incurred and remain unpaid (Dkt. No. 116). THEREFORE final judgment is hereby entered in favor of Valtus and against Defendants, Parq Equity Limited Partnership, Parq Holdings Limited Partnership, Parq Vancouver Limited Partnership, Parq Vancouver ULC, and 1010094 B.C. Ltd. (“Defendants”), in the amounts of: (1) CAD$6,679,736.68 (for past due fees); Dockets.Justia.com Case 1:19-cv-04737-DLC Document 119 118 Filed 12/30/20 12/22/20 Page 2 of 3 and (2) USD$39,752.89 (for expenses). These amounts include pre-judgment interest accruing: (1) on the past due fees from the dates on which each of the Bridge Loan, First Interim Advance, Second Interim Advance, Second Lien Loan, and Third Lien Loan funded until December 30, 2020 at the rate of 9% per annum; and (2) on the incurred and unpaid expenses from the funding of the Third Lien Loan until December 30, 2020 at the rate of 9% per annum. The breakdown of these amounts is as follows: 1. Bridge Loan: CAD$425,000.00 (past due fee), plus prejudgment interest in the amount of CAD$86,455.48, totaling CAD$511,560.27; 2. First Interim Advance: CAD$318,750.00 (past due fee), plus prejudgment in the amount of CAD$57,689.38, totaling CAD$376,517.98; 3. Second Interim Advance: CAD$255,000.00 (past due fee), plus prejudgment interest in the amount of CAD$40,115.34, totaling CAD$295,178.22; 4. Second Lien Loan: CAD$4,553.911.39 (past due fee), plus prejudgment interest in the amount of CAD$677,098.00, totaling CAD$5,232,132.28; 5. Third Lien Loan: CAD$230,180.34 (past due fee), plus prejudgment in the amount of CAD$34,110.83, totaling CAD$264,347.93; and 6. Expenses: USD$34,622.17 (expenses), plus prejudgment in the amount of USD$5,130.72, totaling USD$39,752.89.1 IT IS FURTHER ORDERED that, in addition to the above amounts, Valtus shall recover from Defendants, pursuant to Fed. R. Civ. P. 54(d)(1) and 28 U.S.C. 1961, costs and post-judgment interest on past due fees and expenses, respectively. December 30 day of ___________, Dated this ___ 2020 ________________________________ HON. DENISE L. COTE UNITED STATES DISTRICT JUDGE 1349869v3 1 The detail for these calculations is provided on the attached Schedule A. 2 Case 1:19-cv-04737-DLC Document 119 118 Filed 12/30/20 12/22/20 Page 3 of 3 SCHEDULE A Valtus Capital Group LLC v. Parq Equity Limited Partnership, et al. Fees/Expenses Owed, Plus Prejudgment Interest Security 1) Bridge Loan 2) First Interim Advance 3) Second Interim Advance 4) Second Lien Loan 5) Third Lien Loan 1) Expenses $160,681.66 9% Prejudment Total Amount Owed Interest Due at 9% to Valtus (Fees + Per Diem Interest through 12/30/20 Prejudgment (CAD) (CAD) Interest) (CAD) Date of Closing/Breach Amount of Funding (CAD) Past Due Fee (2.125%) (CAD) 9/27/2018 12/27/2018 4/2/2019 5/7/2019 5/9/2019 $20,000,000.00 $15,000,000.00 $12,000,000.00 $214,301,712.60 $10,832,015.99 $425,000.00 $318,750.00 $255,000.00 $4,553,911.39 $230,180.34 $104.79 $78.60 $62.88 $1,122.88 $56.76 $86,455.48 $57,689.38 $40,115.34 $677,098.00 $34,110.83 $511,560.27 $376,517.98 $295,178.22 $5,232,132.28 $264,347.93 $272,133,728.59 $5,782,841.73 $1,425.91 $895,469.04 $6,679,736.68 Totals Other Amounts Owed $910,180.34 Date of Final Funding/Breach Amount of Expenses (USD) 5/9/2019 $34,622.17 Prejudment Total Amount Owed Interest Due at 9% to Valtus (Expenses + Prejudgment Per Diem Interest through 12/30/20 Interest) (USD) (USD) (USD) $8.54 $5,130.72 $39,752.89 12/30/2020 825 734 638 603 601 12/30/2020 601

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