STIPULATION AND ORDER REGARDING THE POST-JUDGMENT INTEREST RATE

WILLIAM G. COBB, Magistrate Judge.

Plaintiff GEO-LOGIC ASSOCIATES, INC. ("GLA") and defendant METAL RECOVERY SOLUTIONS, INC. ("MRS") stipulate as follows:

1. On January 6, 2020, the Court confirmed an arbitration award in favor of GLA and against MRS (ECF No. 57) and entered judgment against MRS "in the amount of $2,037,586.00, plus prejudgment interest accruing from September 13, 2017 until the judgment is paid in full." (ECF No. 58).

2. MRS has paid and partially satisfied the judgment in the amount of $146,030 plus appropriate interest.

3. On February 14, 2020, in response to an application for a writ of execution, the Court filed a notice that "pursuant to 28 U.S.C. 1961, 18 U.S.C. 3612(f)(2) and 40 U.S.C. 3116 the proper interest rate to be used is 1.23%" (ECF No. 85). On March 4, 2020, in response to a new motion for writ of execution stating a post-judgment interest rate of 1.23% (ECF No. 86), the Court entered an order stating that the new motion "reflects the correct interest rate" (ECF No. 88 at 2:9).

4. In order to avoid unnecessary motion practice, the parties stipulate that 1.23% is not the applicable interest rate, but that 1.57% is the applicable interest rate for the following reasons.

5. Post-judgment interest on civil judgments is controlled by 28 U.S.C. § 1961, which states in relevant part: "interest shall be calculated from the date of the entry of the judgment, at a rate equal to the weekly average 1-year constant maturity Treasury yield, as published by the Board of Governors of the Federal Reserve System, for the calendar week preceding the date of the judgment." 28 U.S.C. § 1961(a).

6. The interest rates distributed by the Director of the Administrative Office of the United States Courts state that the post-judgment rate for the calendar week preceding the filing of the complaint on September 13, 2017 (ECF No. 1), was 1.23% (week ending September 8, 2017).

7. The interest rates distributed by the Director of the Administrative Office of the United States Courts state that the post-judgment rate for the calendar week preceding the filing of the judgment on January 6, 2020, was 1.57% (week ending January 3, 2020).

8. The parties agree that the applicable post-judgment interest rate in this case is therefore 1.57%, based on the date of the filing of the judgment.

IT IS SO ORDERED.