Brian Newberry and Kameren Newberry, individually and as Trustees of the Newberry Family Trust v. Sri Prayal Wijegoonaratna and Ball Pond Capital, LLC, No. 1:2020cv07005 - Document 20 (S.D.N.Y. 2020)

Court Description: ORDER AND FINAL JUDGMENT RECOGNIZING AND CONFIRMING ARBITRATION AWARD. IT IS HEREBY ORDERED, ADJUDGED, AND DECREED: 1. TI1e Court has subject-matter jurisdiction over this matter under 28 U.S.C. §1332(a)(2), because diversity of citizenship is c omplete between Petitioners, residents of the State of California, and Respondents, who reside or have an office in the State of New York, and the amount in controversy exceeds $75,000, exclusive of interest and costs. The Court further has subj ect-matter jurisdiction under 9 U.S.C. § 9, which grants original federal jurisdiction over an action or proceeding to confirm an arbitration award entered in a proceeding in the United States. See 9 U.S.C. § 9. Here, the parties agreed to the application of the AAA Commercial Rules and specifically AAA Commercial Rule 52(c) which provides in relevant part that "[p]arties to an arbitration under these rules shall be deemed to have consented that judgment upon the arbitration award may be entered in any federal or state court having jurisdiction thereof.". The application to confirm an arbitration award "shall be made and heard in the manner provided by law for the making and hearing of motions." 9 U.S.C. § 6. 2. This Final Judgment fully incorporates herein and confirms as a judgment of this Court the entire Arbitration Award entered by the AAA in the matter of Brian Newberry and Kameren Newberry, individually and as Trustees of the Newberry Family Tr ust, Claimants/Counterclaim-Respondents, vs. Sri Prayal Wijegoonaratna and Ball Pond Capital, LLC, Respondents/Counterclaimants, AAA Arbitration Case No. 01-19-0000-7799 on June 16, 2020. 3. The Court confirms the AAA Award in full and enters as judg ment of this Court in favor of Petitioners Brian Newberry and Kameren Newberry: a. An award of $926,158.65 against Respondent Ball Pond Capital, LLC, which represents compensatory damages of $700,000 and reimbursement of fees and costs of & #036;226,158.65 and of that amount, Respondent Sri Prayal Wijegoonaratna is jointly and severally liable for the sum of $205,935.43 plus interest of $16.93 daily from the date of the award, June 16, 2020, through the date of this judgment, November 16, 2020, in the amount of $2,530.22. b. An award of prejudgment interest against Respondent Ball Pond Capital, LLC of $74.46 daily accruing from the date of the award, June 16, 2020, through the date of this judgment, November 16, 2020, in the amount of $11,466.84. c. An award against Respondents Sri Prayal Wijegoonaratna and Ball Point Capital, LLC, jointly and severally, of post-judgment interest pursuant to 28 U.S.C. § 1961 accruing from the date of this judgment until such date as judgment in this matter has been satisfied in full. d. An award against Respondents Sri Prayal Wijegoonaratna and Ball Point Capital, LLC, jointly and severally, of the attorneys' fees of $12,000 and expenses of $1, 212.67 incurred in the bringing of this proceeding. 4. This Order and Final Judgment Recognizing and Confirming Arbitration Award shall become effective upon entry by the Court. IT IS SO ORDERED. Ball Pond Capital LLC and Sri Prayal Wijegoonaratna terminated. (Signed by Judge Sidney H. Stein on 11/17/2020) (Attachments: #(1) Appeal Package) (rjm)