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13-2375 - Bayer CropScience LP et al v. Texana Rice Mill, Ltd. et al


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13-2375 - Bayer CropScience LP et al v. Texana Rice Mill, Ltd. et al
March 31, 2015
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MEMORANDUM AND ORDER - IT IS HEREBY ORDERED that Eagle Lake Rice Dryer, Inc.'s motions to dismiss {##66, 72] are DENIED. IT IS FURTHER ORDERED that Stearns Bank National Association's motion for summary judgment [#75 is DENIED. IT IS FURTHER ORDERED that Amergy National Bank Association's motion for summary judgment#99] is GRANTED, and Amery Natiional Bank Association has the exclusive right, title, and interest to the remaining interpleaded funds. IT IS FURTHER ORDERED that Amergy National Bank Association shall, no later than April 14, 2015, file a proposed pay-out order for disbursement of the funds deposited into the registry of this Court, plus any interest accrued and less any administrative expenses, which must provide all information required by Local Rule 13.04(D)(2), and which must comply with the redaction requirements of Local Rule 2.17. A separate judgment in accordane with this Memorandum Opinion will be entered this same day. Signed by District Judge Catherine D. Perry on March 31, 2015. (MCB)
June 22, 2015
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MEMORANDUM AND ORDER IT IS HEREBY ORDERED that Stearns Bank's Motion to Reconsider [# 124] is denied. IT IS FURTHER ORDERED that on this court's own Motion, the Order of March 31, 2015, is amended, as discussed herein. IT IS FURTHER ORDERED that Stearns Banks Motion to Stay [# 122] is granted and the Clerk of Court shall not disburse the subject funds pending decision by the Court of Appeals. Signed by District Judge Catherine D. Perry on 6/22/15. (EAB) (Finance Department was emailed on 6/22/2015.)
March 19, 2018
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MEMORANDUM OPINION. (See Full Opinion.) Therefore, for all of the foregoing reasons, Stearns Bank is entitled to recover 39.78% of the $1,923,750 Bayer Settlement, that is, $765,267.75. I will therefore order the Clerk of Court to disburse $765,267.75 to Stearns Bank from the Court's registry. Amegy Bank shall recover the remainder of the Net Settlement in the Court's registry that is, $212,002.15 as and for its interest in the commercial tort claim for lost profits, contracts, and goodwill. I will therefore order the Clerk to disburse $212,002.15 to Amegy Bank from the Court's registry. Because Stearns Bank's recovery of $765,267.75 represents 78.3% of the principal sum in the registry, I will order the Clerk to disburse to Stearns Bank 78.3% of the accrued interest, and to Amegy Bank 21.7% of the accrued interest, with such disbursements to occur after deduction of the Court's administrative fee. An appropriate Judgment and Order of Disbursement is entered herewith. Signed by District Judge Catherine D. Perry on 3/19/2018. (CBL)
March 20, 2018
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ORDER NUNC PRO TUNC. IT IS HEREBY ORDERED that the amount of the Net Settlement stated in the first paragraph on page 1 of the Memorandum Opinion shall read $977,270.84 and not $977,269.90. IT IS FURTHER ORDERED that the last sentence of the first full paragraph on page 2 of the Memorandum Opinion shall read: Amegy Bank shall recover the amount of Net Settlement that does not constitute proceeds of Stearns Banks original collateral, that is, $212,003.09. IT IS FURTHER ORDERED that the last two sentences of the first full paragraph on page 16 of the Memorandum Opinion shall read: Amegy Bank shall recover the remainder of the Net Settlement in the Courts registry that is, $212,003.09 as and for its interest in the commercial tort claim for lost profits, contracts, and goodwill. I will therefore order the Clerk to disburse $212,003.09 to Amegy Bank from the Court's registry. A Judgment and Order of Disbursement Nunc Pro Tunc is entered herewith. Signed by District Judge Catherine D. Perry on 3/20/2018. (CBL)