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Polygroup v. Tree Classics

January 7, 2011

POLYGROUP
v.
TREE CLASSICS



Name of Assigned Judge Sitting Judge if Other or Magistrate Judge Blanche M. Manning than Assigned Judge

CASE

TITLE

DOCKET ENTRY TEXT:

The parties submitted a joint position statement regarding damages, as ordered by the court. The court finds that Tree Classics is liable for damages to Polytree in the amount of $3,962,919.56. The court declines to address post-judgment interest at this time as the parties have not both set forth their position. They are strongly encouraged to resolve their differences. The clerk is directed to enter a Rule 58 judgment as specified below.

#[ For further details see text below.]

STATEMENT

The parties submitted a joint position statement regarding damages, as ordered by the court. This order assumes familiarity with the prior orders entered in this case.

Damages:

The payment agreement upon which the court entered judgment was signed on May 20, 2009, by Polytree and on May 18, 2009, by Tree Classics. The payment agreement states that Tree Classics has had an outstanding balance of $3,209,913.98 since September of 2008. The word "since" is important, for reasons that will be explained below.

The payment agreement also contains a payment schedule and provides:

Polytree agrees to forego interest accrued from the original payment date if the above payment schedule is met. If not met as outlined above, interest will be accrued from the original payment due date compounded monthly at a rate of 1% per month.

Dkt. 1-2.

(continued)

Courtroom Deputy ...


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