Edelman Arts, Inc. v. Spoelstra
- John Koeltl
- 1:17-cv-04789
- U.S. District Court · Southern District of New York
- 2
In Edelman Arts, Inc. v. Spoelstra, Judge Koeltl entered a $7,870,060.27 judgment, including interest, against the defendants and closed the case.
Edelman Arts, Inc. received a judgment against Remko Spoelstra, Jason Holloway, SSR Invest Switzerland, Swiss Business Council, and John Doe. The defendants are subject to the $7,870,060.27 judgment, including prejudgment interest, while $1,000,000 is to remain in escrow under the stated condition.
What happened
In Edelman Arts, Inc. v. Spoelstra, the court adopted a report and recommendation, except for its calculation of prejudgment interest. The provided judgment does not describe the underlying claims or the report’s reasoning.
The clerk entered judgment for Edelman Arts against the defendants for $5,700,000, with $1,000,000 held in escrow until Edelman Arts provides evidence that it satisfied another $1,000,000 judgment entered against it. The judgment also includes $2,170,060.27 in prejudgment interest at nine percent per year from December 15, 2016, for a total of $7,870,060.27.
Judge John Koeltl’s order directed entry of the judgment, and the case was closed.
The detailed version
- Edelman Arts, Inc. v. Spoelstra · No. 1:17-cv-04789
- John Koeltl
- Mar. 8, 2021
What the court did
The court adopted the report and recommendation in all respects except the calculation of prejudgment interest. The provided judgment does not include the underlying memorandum opinion, the report and recommendation, or an explanation of the claims and reasoning.
Judgment and amounts
The clerk was directed to enter judgment in favor of Edelman Arts and against Remko Spoelstra, Jason Holloway, SSR Invest Switzerland, Swiss Business Council, and John Doe for $5,700,000. The order directed that $1,000,000 be retained in escrow until Edelman Arts presents evidence that it has satisfied a separate $1,000,000 judgment entered against it in a New York state-court proceeding identified in the order.
The judgment also included prejudgment interest at an annual rate of nine percent from December 15, 2016, through the date judgment was entered. The order states that this interest totaled $2,170,060.27, making the total judgment $7,870,060.27.
Disposition
Judge John Koeltl’s court directed entry of the judgment and stated that the case was closed. The text provided does not specify how liability was allocated among the defendants or describe the legal basis for the judgment.
Read the full 2-page opinion on CourtListener, the free public archive maintained by the Free Law Project.