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Wells Fargo Bank, National Association v. Nasr, 19-CV-0047 (DLC). (2019)

Court: District Court, S.D. New York Number: infdco20191203a14 Visitors: 3
Filed: Nov. 26, 2019
Latest Update: Nov. 26, 2019
Summary: CONSENT JUDGMENT DENISE L. COTE , District Judge . WHEREAS, plaintiff Wells Fargo Bank, National Association as Trustee for the Registered Holders of JPMBB Commercial Mortgage Securities Trust 2014-C26, Commercial Mortgage Pass-Through Certificates, Series 2014-C26 ("Plaintiff") commenced this action against defendant Mohammad Nasr ("Nasr") on January 2, 2019, asserting that Nasr breached his contractual obligations as the guarantor on a commercial real estate loan; WHEREAS, on May 10, 20
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CONSENT JUDGMENT

WHEREAS, plaintiff Wells Fargo Bank, National Association as Trustee for the Registered Holders of JPMBB Commercial Mortgage Securities Trust 2014-C26, Commercial Mortgage Pass-Through Certificates, Series 2014-C26 ("Plaintiff") commenced this action against defendant Mohammad Nasr ("Nasr") on January 2, 2019, asserting that Nasr breached his contractual obligations as the guarantor on a commercial real estate loan;

WHEREAS, on May 10, 2019, the Court granted summary judgment in favor of Plaintiff as to Nasr's liability under the controlling guaranty (the "Guaranty");

WHEREAS, the only remaining issue is the amount of damages owed to Plaintiff as a result of Nasr's breach of the Guaranty;

WHEREAS, the parties have agreed to consensually resolve the remaining issue pursuant to a Final Stipulation of Settlement (the "Settlement"), which has been filed with this Court.

WHEREAS, pursuant to the terms of the Settlement, Nasr has consented to the entry of this Consent Judgment.

NOW, THEREFORE, IT IS HEREBY ORDERED, ADJUDGED AND DECREED THAT:

1. The Court has jurisdiction over the subject matter of this action and personal jurisdiction over the parties.

2. This Consent Judgment is hereby entered in favor of Plaintiff and against Nasr.

3. Nasr is obligated to pay $60,000,000.00 to Plaintiff. This judgment shall accrue interest at the interest rate set forth in 28 U.S.C. § 1961(a) from the date of its entry.

4. The Court shall retain jurisdiction over this action and the parties thereto for purposes of construing and enforcing the terms of this Consent Judgment.

The Clerk of the Court is directed to enter this Consent Judgment.

SO ORDERED.

Source:  Leagle

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