SSI Company LTD. v. Prosper Business Development Corporation
- Valerie Caproni
- 1:18-cv-08408
- U.S. District Court · Southern District of New York
- 2
In SSI (Beijing) v. Prosper Business, Judge Caproni dismissed the settled case with prejudice, without costs, while allowing a 30-day reopening request.
SSI (Beijing) Company LTD. and Prosper Business Development Corporation; the case was closed after the parties reported an agreement in principle.
What happened
SSI (Beijing) Company LTD. v. Prosper Business Development Corporation involved a dispute that the parties told the court they had agreed in principle to resolve. The order canceled scheduled conferences and deadlines and terminated pending motions.
The court dismissed the case with prejudice and ordered that neither party recover costs or attorneys’ fees. It also closed the case, while allowing either party to seek reopening within 30 days if it showed good cause.
Judge Valerie Caproni entered the order on December 2, 2020. The parties could also ask the court to retain authority to enforce their settlement, but they had to submit the settlement agreement and a request for retained jurisdiction within the same 30-day period.
The detailed version
- SSI Company LTD. v. Prosper Business Development Corporation · No. 1:18-cv-08408
- Valerie Caproni
- Dec. 2, 2020
Background
The parties notified the court on December 1, 2020, that they had reached an agreement in principle resolving all issues. The opinion does not describe the underlying dispute or the settlement’s terms.
Court’s action
The court canceled all previously scheduled conferences and other deadlines. It dismissed the case with prejudice and without costs, including attorneys’ fees, to either party. The Clerk of Court was directed to terminate all open motions and close the case.
The order allowed the parties to apply to reopen the case within 30 days. Any application had to show good cause for keeping the case open despite the settlement, and an application filed after 30 days or without a showing of good cause could be denied on that basis alone.
The court also stated that, if the parties wanted it to retain jurisdiction—the authority to enforce their settlement agreement—they had to submit the settlement agreement and request an order expressly retaining jurisdiction within the same 30-day period.
Disposition
This was a procedural order ending the case based on the parties’ agreement in principle; the court did not decide the underlying dispute’s merits. Judge Valerie Caproni dismissed the case with prejudice and without costs, terminated the open motions, and closed the case, subject to the stated 30-day procedures.
Read the full 2-page opinion on CourtListener, the free public archive maintained by the Free Law Project.