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RETIREMENT COMMITTEE OF DAK AMERICAS LLC v. ALLEN, 7:14-CV-36-FL. (2014)

Court: District Court, E.D. North Carolina Number: infdco20140416b40 Visitors: 1
Filed: Mar. 24, 2014
Latest Update: Mar. 24, 2014
Summary: CONSENT ORDER FOR PRELIMINARY INJUNCTION LOUISE WOOD FLANAGAN, District Judge. Plaintiffs Retirement Committee of DAK Americas LLC (the "Committee"), as Plan Administrator of the DAK Americas LLC Pension Plan (the "Plan"), and Transamerica Retirement Solutions Corporation ("Transamerica") (collectively, "Plaintiffs"), and Defendants Mark Stephen Brewer, Harold E. Corbett, Warren Albert Garrison, James F. Holland, William Lacey Nelson, Sidney Hugh Rhodes, and Jimmie Ray Sellers, and David W. Al
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CONSENT ORDER FOR PRELIMINARY INJUNCTION

LOUISE WOOD FLANAGAN, District Judge.

Plaintiffs Retirement Committee of DAK Americas LLC (the "Committee"), as Plan Administrator of the DAK Americas LLC Pension Plan (the "Plan"), and Transamerica Retirement Solutions Corporation ("Transamerica") (collectively, "Plaintiffs"), and Defendants Mark Stephen Brewer, Harold E. Corbett, Warren Albert Garrison, James F. Holland, William Lacey Nelson, Sidney Hugh Rhodes, and Jimmie Ray Sellers, and David W. Allen, Joseph Alexander Bellamy, Jerome Bryant, Kelvin L. Galloway, Mendell W. Smith, and Otella Irene Webb (collectively, "Consenting Defendants"), by and through their undersigned counsel, hereby stipulate and agree to the following:

1. Plaintiffs filed this action against David W. Allen, Michael Lynn Bass, Joseph Alexander Bellamy, Mark Stephen Brewer, Jerome Bryant, Harold E. Corbett, Kelvin L. Galloway, Warren Albert Garrison, James F. Holland, William Lacey Nelson, Sidney Hugh Rhodes, Jimmie Ray Sellers, Mendell W. Smith, Rodney B. Smith, and Otella Irene Webb (collectively, "Defendants") on February 20, 2014, seeking to recover certain pension benefit overpayments that Plaintiffs allege were erroneously distributed to Defendants. See Dkt. 1. The amounts in question are listed on Exhibit 1 to this Order under the column titled "Lump Sum Overpayment Amount." The amounts are also listed on Exhibit 2 to the Complaint under the column titled "Lump Sum Overpayment Amount." See Dkt. 1-2.

2. Plaintiffs also filed a motion for preliminary injunction, seeking a preliminary injunction imposing a constructive trust and/or equitable lien over all monies allegedly erroneously paid to Defendants and enjoining Defendants from spending, transferring, or otherwise disposing of such monies. See Dkt. 6.

3. Each Consenting Defendant is currently holding the amount of the alleged overpayment in an eligible retirement plan, account, or annuity.

4. Consenting Defendants deny that any monies are owed to Plaintiffs.

5. Plaintiffs and Consenting Defendants have consented to the entry of this preliminary injunction pending final resolution of this matter.

6. Nothing contained in this Consent Order shall be deemed to have waived any rights, remedies, or defenses of any party. This Consent Order is being entered solely for purposes of judicial economy and efficiency.

7. Because Plaintiffs and Consenting Defendants have consented to this Order, inquiry into the likelihood of success on the merits, irreparable harm, public interest, and any balancing of the hardships is not necessary at this time.

Until further order of this Court, IT IS ORDERED THAT

1. Pending final resolution of this matter, each Consenting Defendant is enjoined from spending, transferring, disposing of, or otherwise diminishing the monies that Plaintiffs claim were erroneously distributed to Consenting Defendants. The amounts in question in this action and that are subject to this Consent Order are listed on Exhibit 1 of this Order under the column titled "Lump Sum Overpayment Amount" and Exhibit 2 to the Complaint under the column titled "Lump Sum Overpayment Amount." See Dkt. 1-2.

2. Nothing in this Consent Order shall limit or restrict the Consenting Defendants from making investment changes within the Consenting Defendants investment accounts wherein the amounts in question in this action are currently being held, except that Consenting Defendants shall make no changes that diminish the monies that Plaintiffs claim were erroneously distributed to Consenting Defendants.

3. This Consent Order shall become effective upon entry by the Court.

IT IS SO STIPULATED AND AGREED, this 21st day of March, 2014.

IT IS SO ORDERED.

Source:  Leagle

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