IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF ILLINOIS
July 13, 2009
SUMMIT FINANCIAL RESOURCES L.P., PLAINTIFF,
BIG DOG ENTERPRISES LOGISTICS, LLC, D/B/A FREIGHT HAULING LOGISTICS, THE HURSEY GROUP, LLC, AGED ASSETS, LLC, COMMERCIAL PROPERTY MANAGEMENT, LLC, HURSEY TECHNOLOGY, LLC, DAVID HURSEY, SUSAN HURSEY, AND PEERLESS-PREMIER APPLIANCE CO., DEFENDANTS.
PEERLESS PREMIER APPLIANCE CO., COUNTERCLAIM/INTERPLEADER PLAINTIFF,
SUMMIT FINANCIAL RESOURCES L.P., COUNTERCLAIM/INTERPLEADER DEFENDANT.
PEERLESS PREMIER APPLIANCE CO., CROSS-CLAIM/INTERPLEADER PLAINTIFF,
BIG DOG ENTERPRISES LOGISTICS, LLC, D/B/A FREIGHT HAULING LOGISTICS, DAVID HURSEY, THE HURSEY GROUP, LLC, AND CSX INTERMODAL, INC., ESTES EXPRESS LINES, OVERNIGHT TRANSPORT-UPS FREIGHT, LANDSTAR RANGER, AND SCHNEIDER NATIONAL CARRIERS, CROSS-CLAIM/INTERPLEADER DEFENDANTS.
The opinion of the court was delivered by: Reagan, District Judge
ORDER FOR DISBURSEMENT OF INTERPLEADER STAKE AND DISMISSAL OF INTERPLEADER CLAIMS
Plaintiff and Third Party Defendant Summit Financial Resources, L.P. ("Summit) and Third Party Defendants CSX Intermodal, Inc. ("CSX"), Estes Express Lines ("Estes"), Overnight Transport-UPS Freight ("Overnite"), Landstar Ranger, Inc. ("Landstar"), and Schneider National Carriers ("Schneider") (CSX, Estes, Overnite, Landstar and Schneider are referred to herein collectively as "Carriers") have filed a Stipulated Motion for Disbursement of Interpleader Stake and Dismissal of Interpleader Claims dated June 16, 2009 (Doc. 376). Peerless-Premier Appliance Company, the party who interpled the stake, has also filed a motion in support of disbursement (Doc. 387).
Having fully reviewed the parties' filings, the Court hereby GRANTS these motions (Docs. 376 & 387) as follows:
1. The Stake (as defined in the Motion) and all interest accrued thereon*fn1 shall be distributed and disbursed as follows:
Party Amount of Stake Portion of Accrued Percentage Portion of Interest as of 07-13-09 Additional Interest
Summit $61,497.08 $63.79 42.65%
$136,811.57 - $13.18
CSX $67,496.69 $21.70 18.29%
Estes $100,004.02 $32.15 27.10%
Schneider $1,324.24 $0.42.35%
Overnite $41,000.00 $13.18 11.11%
Landstar $1,846.96 $0.59.50%
Totals $409,980.56 $118.65 100%
2. The Clerk of the Court is hereby ordered and directed to promptly disburse and distribute the Stake and all Accrued Interest. Any additional interest accrued in excess of $118.65 shall be paid to Summit.
3. Any and all claims and rights of the Carriers against Peerless which are not paid by the Carriers respective portion of the Stake are expressly reserved. Amounts received by each of the Carriers pursuant to this Settlement Agreement will be credited to the claims of the respective Carrier against Peerless.
4. This Order affects only the Interpleader Claims (as defined in the Motion) and all other claims and defenses in this action shall remain.
5. All claims, counterclaims and third party claims to the Stake are hereby dismissed with prejudice, each party to bear its own costs and attorneys fees.
Thus, for all of the reasons explained above, the Court GRANTS the parties' motions to disburse the interpleader stake (Docs. 376 & 387), DIRECTS the Clerk of the Court to disburse the interpleader stake to the parties as described herein, and DISMISSES the interpleader claims.
IT IS SO ORDERED.
MICHAEL J. REAGAN United States District Judge