Valtus Capital Group, LLC v. Parq Equity Limited Partnership

Background

Valtus Capital Group, LLC brought this action against Parq Equity Limited Partnership and its affiliates. In an October 9, 2019 order, the court granted Valtus partial summary judgment, ruling that the defendants were liable for $910,180.34 in fees, plus prejudgment interest, under an agreement between Valtus and the defendants.

Motion for Partial Final Judgment

Valtus moved under Federal Rule of Civil Procedure 54(b) for entry of a partial final judgment concerning the fees addressed in the October 9 order. Rule 54(b) can allow a court to enter a final judgment on fewer than all claims or parties when at least one claim or party’s rights and liabilities have been decided, the issues are sufficiently separate, and there is no just reason to delay judgment. The party seeking certification must also show that immediate judgment would prevent hardship or injustice.

The parties did not dispute that the fee ruling in the October 9 order was final. Valtus argued that it should not have to wait for the rest of the case to be decided before receiving the fees. The court found, however, that Valtus had not shown that the remaining issues were separate from the fee issues. The court noted that Valtus had consistently taken the position that the fees due for each transaction under the agreement were linked. The court also found that the financial burden of waiting for payment did not establish the required hardship or injustice.

Disposition

Judge Denise Cote denied Valtus’s February 21, 2020 motion for entry of partial final judgment under Rule 54(b). The order did not alter the court’s prior ruling on the defendants’ liability for the fees and prejudgment interest.