Opinion
Civil Action 20 Civ. 9926
01-18-2021
CLDN COBELFRET PTE LTD, Petitioner, v. TRIORIENT LLC Respondent.
HOLLAND & KNIGHT LLP Christopher R. NolanAttorneys for Petitioner, CLDN Cobelfret Pte Ltd ZEISLER & ZEISLER, P.C. Stephen Kindseth Attorneys for Respondent, Triorient LLC
HOLLAND & KNIGHT LLP Christopher R. NolanAttorneys for Petitioner, CLDN Cobelfret Pte Ltd
ZEISLER & ZEISLER, P.C. Stephen Kindseth Attorneys for Respondent, Triorient LLC
STIPULATION FOR ENTRY OF CONSENT JUDGMENT
WHEREAS, on November 25, 2020 petitioner CLDN Cobelfret Pte Ltd. (“Cobelfret”) commenced an action in the U.S. District Court for the Southern District of New York against Triorient LLC (“Triorient”), for an order pursuant to 9 U.S.C. § 201 et seq. confirming two binding arbitration awards issued in Cobelfret's favor; and
WHEREAS, Cobelfret and Triorient wish to resolve this dispute to avoid the time, burden and expense of litigation and arbitration; and
WHEREAS, Cobelfret and Triorient have negotiated and reached this agreement of their own volition; and
WHEREAS, each person who executes this Consent Judgment (“Judgment”) on behalf of any party warrants that he or she has the full authority to bind his or her respective party thereby;
NOW, THEREFORE, in consideration of the promises and mutual covenants herein contained, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, IT IS HEREBY ORDERED, by and between the parties that that Cobelfret's claims in the above-captioned action shall be settled by the entry of judgment in the amount of US $3,423,148.87 against Triorient and in favor of Cobelfret, calculated as follows:
| a. Loss on Freight (after mitigation of damages): | $248,925.00 |
| b. Deviation from Mazatlan to Lazaro Cardenas to start mitigating voyage (20.9 days at $8,658/day + bunkers): | $315,114.25 |
| c. Deviation for bunkers at Long Beach to start recovery voyage (5.3 days at $8,658/day + bunkers) + port call expenses): | $196,680.26 |
| d. Demurrage (USD $12,000/day for 203.6 days): | $2,443,491.67 |
| e. Port DA: | $61,412.00 |
| f. Underwater Cleaning: | $44,000.00 |
| g. Legal fees, costs and arbitrator fees and costs | $120,000.00 |
| TOTAL: | $3,429,623.18 |
IT IS FURTHER ORDERED, by and between the parties that the judgment of US $3,429,623.18 the sums alleged by Cobelfret to be due and owing in connection with Cobelfret's claims as set forth in the Petition and in the underlying New York-located arbitration;
IT IS FURTHER ORDERED that post-judgment interest, accruing on any unpaid portions of the Judgment in this Court until the judgment is paid in full, is awarded in accordance with the rate and method of calculation set forth in 28 U.S.C. § 1961.
IT IS FURTHER ORDERED, by and between the parties that this action is discontinued without prejudice and without costs with the entry of this Judgment.
SO ORDERED: