Almanzar v. C & I Associates Inc.
- Sidney Stein
- 1:14-cv-01810-SHS
- U.S. District Court · Southern District of New York
- 8
In Almanzar v. C & I Associates, Judge Sidney Stein entered a $355,000.02 settlement-enforcement judgment against three defendants, plus interest.
The listed plaintiffs and their counsel received a judgment against C & I Associates, Inc., C & I Telecommunications, Inc., and William Giannini. Those three defendants were made jointly and severally liable for the principal amount, prejudgment interest, and applicable post-judgment interest.
What happened
In Almanzar v. C & I Associates Inc., the plaintiffs alleged that the defendants had not paid $25,000.02 owed under a settlement agreement and had not otherwise complied with it. The court had previously approved the agreement and retained authority to enforce it.
The agreement was backed by a confession of judgment, under which C & I Associates, Inc., C & I Telecommunications, Inc., and William Giannini agreed to a judgment of $510,000, reduced by amounts already paid, if they failed to make the required payments. After receiving notice and an opportunity to respond, the defendants filed no opposition.
Judge Sidney Stein entered judgment jointly and severally against those three defendants for $355,000.02 in favor of the listed plaintiffs and their counsel. He also entered judgment for $937.51 in prejudgment interest and ordered post-judgment interest at the rate set by federal law until the judgment is paid.
The detailed version
- Almanzar v. C & I Associates Inc. · No. 1:14-cv-01810-SHS
- Sidney Stein
- Feb. 28, 2023
Background
The plaintiffs sued C & I Associates, Inc., C & I Telecommunications, Inc., William Giannini, Nelson Izquierdo, and Androke Polonio over claims for unpaid wages. The parties later entered a settlement agreement. On December 20, 2016, the court determined that the agreement was fair and reasonable. On January 24, 2017, the court ordered the parties to complete the settlement and retained jurisdiction, meaning authority to address compliance with the agreement.
The agreement required payment of $180,000 plus a portion of the proceeds from the sale of certain real property owned by William Giannini. To secure performance, C & I Associates, Inc., C & I Telecommunications, Inc., and Giannini signed a confession of judgment for $510,000, reduced by amounts actually paid. The confession allowed entry of a money judgment if the required settlement payments were not made.
Motion and response
The plaintiffs submitted an affirmation alleging that the defendants had failed to pay $25,000.02 of the agreed settlement amount and had otherwise failed to comply with the agreement. The plaintiffs served a notice to cure on September 15, 2022. The agreement provided for nine-percent annual interest on unpaid installments after proper service of that notice.
The defendants received notice and an opportunity to be heard on February 22, 2023. The opinion states that they made no showing and filed no affidavits or memoranda opposing the requested judgment.
Judgment
Under Rule 58 of the Federal Rules of Civil Procedure, Judge Sidney Stein entered judgment against C & I Associates, Inc., C & I Telecommunications, Inc., and William Giannini, jointly and severally. Joint and several liability means that each of those defendants is responsible for the full amount of the judgment, subject to the defendants’ rights among themselves.
The judgment awarded $355,000.02 to the listed plaintiffs and their counsel. It separately awarded $937.51 in prejudgment interest. It also imposed post-judgment interest at the rate specified in 28 U.S.C. § 1961, accruing from entry of the judgment until the judgment is satisfied. The clerk was directed to enter the judgment.
Read the full 8-page opinion on CourtListener, the free public archive maintained by the Free Law Project.