Opinion
Court File No.: 99-CV-2049 JMR/FLN
November 9, 2001
ORDER
Upon consideration of Defendant IOA Re's motion for stay of money judgment pending appeal and for approval of the deposit of the full judgment amount plus costs and interest with the Clerk of the United States District Court in an interest-bearing account, the accompanying memorandum of law, and any opposition raised, it is HEREBY ORDERED that execution and levy upon the judgment entered against IOA Re on September 14, 2001, is stayed under Federal Rule of Civil Procedure 62 during the pendency of IOA Re's appeal to the United States Court of Appeals for the Eighth Circuit. It is FURTHER ORDERED that IOA Re deposit $2,631,910.42 (U.S.) with the Clerk of the United States District Court pending the appeal and that the full amount remain until otherwise ordered by the Court. The Clerk of the United States District Court will deposit this sum in an interest-bearing account and upon withdrawal IOA Re will pay a fee to the Court in the amount of 10% of the interest earned during the deposit period.