Filed: Jul. 19, 2012
Latest Update: Jul. 19, 2012
Summary: ORDER JOHN R. ADAMS, District Judge. This matter is before the Court on Plaintiff's Motion for Summary Judgment. Doc. 27. Plaintiff Jay-Em Aerospace Corporation ("Jay-Em") alleges that Defendant Logistic Specialties, Inc. ("LSI") breached the contract between the parties and, therefore, owes Jay-Em $750,052.50 in principal plus $70,142.93 in interest through May 31, 2012 and per diem interest of 12% on the principal balance from May 31, 2012 forward. LSI opposed the motion, but admitted that
Summary: ORDER JOHN R. ADAMS, District Judge. This matter is before the Court on Plaintiff's Motion for Summary Judgment. Doc. 27. Plaintiff Jay-Em Aerospace Corporation ("Jay-Em") alleges that Defendant Logistic Specialties, Inc. ("LSI") breached the contract between the parties and, therefore, owes Jay-Em $750,052.50 in principal plus $70,142.93 in interest through May 31, 2012 and per diem interest of 12% on the principal balance from May 31, 2012 forward. LSI opposed the motion, but admitted that i..
More
ORDER
JOHN R. ADAMS, District Judge.
This matter is before the Court on Plaintiff's Motion for Summary Judgment. Doc. 27. Plaintiff Jay-Em Aerospace Corporation ("Jay-Em") alleges that Defendant Logistic Specialties, Inc. ("LSI") breached the contract between the parties and, therefore, owes Jay-Em $750,052.50 in principal plus $70,142.93 in interest through May 31, 2012 and per diem interest of 12% on the principal balance from May 31, 2012 forward. LSI opposed the motion, but admitted that it owes Jay-Em the principal amount of $750,052.50. LSI's sole dispute is the amount of interest owed on the principal amount.
On July 18, 2012, the parties contacted the Court and requested an expedited ruling on Jay-Em's motion. The parties again confirmed that there is no dispute that LSI owes Jay-Em the principal amount of $750,052.50 and that the sole dispute is over the amount of interest owed.
WHEREFORE, the Court hereby partially grants Plaintiff's motion and enters judgment against Logistic Specialties, Inc. and in favor of Jay-Em Aerospace Corporation in the amount of $750,052.50. The Court will resolve the dispute over the amount of interest owed at a later date.
IT IS SO ORDERED.
