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American States Insurance Company v. Insurance Company of Pennsylvania, 2:12-cv-01489-MCE-AC. (2018)

Court: District Court, E.D. California Number: infdco20180504d89 Visitors: 9
Filed: May 02, 2018
Latest Update: May 02, 2018
Summary: SUPERSEDEAS BOND #341-550; ORDER THEREON (Fed. R. Civ. P. 62(d); E.D. Cal. Local Rule 151(d)) MORRISON C. ENGLAND, JR. , District Judge . WHEREAS, on March 30, 2018, this Court entered Judgment in favor of Plaintiff American States Insurance Company ("American States") in this Action in the amount of $6,613,957.28 [D.I. 215.] ("the Judgment"); WHEREAS, Defendant Insurance Company of the State of Pennsylvania ("ICSOP") anticipates appealing the Judgment in its entirety to the United Stat
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SUPERSEDEAS BOND #341-550; ORDER THEREON

(Fed. R. Civ. P. 62(d); E.D. Cal. Local Rule 151(d))

WHEREAS, on March 30, 2018, this Court entered Judgment in favor of Plaintiff American States Insurance Company ("American States") in this Action in the amount of $6,613,957.28 [D.I. 215.] ("the Judgment");

WHEREAS, Defendant Insurance Company of the State of Pennsylvania ("ICSOP") anticipates appealing the Judgment in its entirety to the United States Court of Appeals for the Ninth Circuit;

WHEREAS, pursuant to Federal Rule of Civil Procedure 62(d), ICSOP wishes to stay execution or enforcement of the Judgment pending appeal;

WHEREAS, National Union Fire Insurance Company of Pittsburgh, Pa. is a corporation authorized to transact surety insurance business in the State of California, with an Administrative Office at 80 Pine Street, New York, New York ("the Surety");

WHEREAS, attached hereto is as Exhibit A is a certified copy of the Surety's Certificate of Authority to do business in California, together with a certified copy of General Power of Attorney appointing the agent authorized to execute this bond;

WHEREAS, ICSOP, as Principal, and the Surety hereby obligate themselves and their successors and assigns under all applicable federal law, by this instrument, to American States, in the amount of all damages, costs and interest that may be awarded to American States following the appeal of this matter, up to the sum of $8,267,446.60;

NOW THEREFORE, the condition of this obligation is such that if (a) the Judgment is vacated, reversed, or otherwise dismissed; (b) ICSOP satisfies the Judgment in full together with costs, interest and damages for delay if for any reason its appeal is dismissed, the Judgment is affirmed, or no notice of appeal is filed; (c) ICSOP satisfies in full such modification of the Judgment and such costs, interest and damages as the United States District Court for the Eastern District of California, the United States Court of Appeals for the Ninth Circuit and/or the United States Supreme Court may adjudge and award; or (d) this action is dismissed by American States pursuant to the terms of any settlement, then this obligation shall be null and void; otherwise it is to remain in full force and effect. It is provided that the Surety shall not be liable in the aggregate for more than the penal sum of $8,267,446.60.

SIGNED below by their duly authorized representatives this 26th day of April, 2018.

SURETY National Union Fire Insurance Company of Pittsburgh, Pa. By:_____/s/_________________________ Julian Hallenbeck — Attorney-in-Fact PRINCIPAL Insurance Company of the State of Pennsylvania By:_______/s/_______________________ Michael W. Leahy Senior Vice President

ORDER

Pursuant to Federal Rule of Civil Procedure 62(d) and E.D. Cal. Local Rule 151(d)) the Court approves this bond.

IT IS SO ORDERED.

Source:  Leagle

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