IN THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF PENNSYLVANIA
July 15, 2009
SIEMATIC MOBELWERKE GMBH & CO. KG PLAINTIFF,
SIEMATIC CORPORATION, SIEMATIC DESIGN STUDIOS, LLC FRANK W. SIEKMANN, DEFENDANTS.
SIEMATIC CORPORATION AND FRANK SIEKMANN, COUNTERCLAIM-PLAINTIFFS,
SIEMATIC MOBELWERKE GMBH & CO KG, AND ULRICH SIEKMANN COUNTERCLAIM-DEFENDANTS.
The opinion of the court was delivered by: Anita B. Brody, J.
ORDER AND NOW, this __15th ____ day of July, 2009, upon consideration of the Partial Motion for Summary Judgment of Plaintiff on Count I of the Amended Complaint (Doc. #102), and the response of the Defendant SieMatic Corporation thereto, it is ORDERED that Plaintiff's Motion is GRANTED as to Count I of the Amended Complaint, breach of contract for failure to pay the Current Indebtedness (Am. Compl. ¶¶ 114-116).
It is further ORDERED that the plaintiff shall submit a proposed formula for the calculation and conversion of damages and prejudgment interest for SMC's breach of contract (the "Proposed Formula"). The Proposed Formula should reflect the Court's ruling that the plaintiff is entitled to:
(a) €800,000 plus interest at a rate of 3.5% from April 20, 2005 until December 31, 2005, converted into U.S. Dollars, plus prejudgment interest on that amount at a rate of 6% from December 31, 2005; and
(b) €1,340,719.27, plus prejudgment interest on that amount at a rate of 6% from June 1, 2005.
The plaintiff shall submit the Proposed Formula by August 3, 2009. The defendant shall submit its opposition to the Proposed Formula, if any, by August 17, 2009. Judgment shall be entered for the plaintiff in an amount to be determined following review of the Proposed Formula and any response thereto.
It is further ORDERED that the Motion for Summary Judgment of Defendant SieMatic Corporation (Doc. #101), is GRANTED in part and DENIED in part as follows:
Defendants' Motion for Summary Judgment on Count I, breach of contract for failure to pay freight and installation charges (Am. Compl. ¶¶ 118-121), is GRANTED and this claim is dismissed;
Defendants' Motion for Summary Judgment on Count II, Fraudulent Transfer under Pa. C.S.A. § 5104, is DENIED;
Defendants' Motion for Summary Judgment on Count III, Fraudulent Transfer under Pa. C.S.A.§ 5105, is DENIED;
Defendants' Motion for Summary Judgment on Count IV, Piercing the Corporate Veil, is DENIED.
© 1992-2009 VersusLaw Inc.