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TRAVELERS INDEM. CO. v. STEDMAN

April 11, 1996

THE TRAVELERS INDEMNITY COMPANY, a/s/o American Lung Association, Plaintiff,
v.
NANCY STEDMAN and MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, Defendants.



The opinion of the court was delivered by: REED

 Reed, J.

 April 11, 1996

 Plaintiff the Travelers Indemnity Company ("Travelers") brings this action as subrogee of the American Lung Association of Philadelphia and Montgomery Counties ("ALA") against defendants Nancy Stedman and Merrill Lynch, Pierce, Fenner and Smith Incorporated ("Merrill Lynch"). This action arises out of losses sustained by ALA because of forgeries committed by defendant Stedman with respect to checks drawn on the Working Capital Management Account maintained by ALA with Merrill Lynch. This Court has jurisdiction over this case pursuant to 28 U.S.C. ยง 1332 as the parties are of diverse citizenship and the amount in controversy is in excess of $ 50,000, exclusive of interest and costs.

 Currently before the Court are the motion by defendant Merrill Lynch to vacate or modify the Order of this Court dated November 13, 1995 and the motion by plaintiff to add pre-judgment interest to the amount of the judgment. (Document Nos. 41, 40) For the following reasons, the motion by defendant Merrill Lynch will be granted in part and denied in part and the motion by plaintiff will be granted.

 I. BACKGROUND

 In a Memorandum and Order dated November 13, 1995 ("November 1995 Order"), this Court granted summary judgment in favor of plaintiff and against defendant Merrill Lynch with respect some but not all of the checks forged by defendant Stedman. In that same Memorandum and Order, this Court entered judgment in favor of plaintiff and against Merrill Lynch in the amount of $ 96,304.20. Defendant Merrill Lynch filed a motion for reconsideration of the November 1995 Order, and that motion was denied by an Order of this Court dated December 28, 1995. After having met with parties, however, the parties and this Court agreed that various errors had been made with regard to the calculations of the liability of defendant Merrill Lynch to plaintiff. In light of these undisputed errors, this Court in an Order dated March 14, 1996 ("March 1996 Order") modified the November 1995 Order to state that the judgment against defendant Merrill Lynch and in favor of plaintiff was in the amount of $ 86,870.89.

 On April 4, 1996, defendant Merrill Lynch filed the instant motion to vacate or modify the November 1995 Order. In this motion, defendant Merrill Lynch argues that the November 1995 Order should be vacated or modified because of various alleged errors in that Order. Plaintiff concedes one of the alleged errors, but otherwise contests the instant motion by defendant. Plaintiff has also moved this Court to add pre-judgment interest to the judgment entered in its favor.

 II. DISCUSSION

 Defendant Merrill Lynch fails to identify the legal basis for its instant motion. As the time under the Local Rules of Civil Procedure for filing a motion for reconsideration of either the November 1995 Order or the March 1996 Order had passed before the instant motion to vacate or modify was filed, the Court will assume that the instant motion is made pursuant to Federal Rule of Civil Procedure 60. See Local R. Civ. P. 7.1(g) (stating that motions for reconsideration must be served and filed within ten days after the entry of the judgment or order concerned). Rule 60 provides for relief from judgment or order based upon either clerical mistakes or:

 
(1) mistake, inadvertence, surprise, or excusable neglect; (2) newly discovered evidence . . . ; (3) fraud . . . , misrepresentation, or other misconduct of an adverse party; (4) the judgment is void; (5) the judgment has been satisfied, released, or discharged . . . ; or (6) any other reason justifying relief from the operation of the judgment.

 Fed. Rule of Civ. P. 60(b).


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