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Regions Bank v. Kaplan

United States District Court, M.D. Florida, Tampa Division

November 9, 2017

REGIONS BANK, an Alabama banking corporation, Plaintiff,
v.
MARVIN I. KAPLAN, an individual, et al., Defendants.

          ORDER

          Alizabeth A. Kovachevich, Judge

         This cause is before the Court on:

Dkt. 837 Agreed Motion for Entry of Omnibus Final Judgment on All Claims, Counterclaims and Crossclaims and to Vacate the Clerk's Final Judgments on Partial Claims

         Plaintiff Regions Bank requests the entry of an Omnibus Final Judgment disposing of all claims, counterclaims and crossclaims by and against the parties. As to the claims for which the Court has entered summary judgment in favor of Regions Bank, Plaintiff Regions requests entry of a final judgment awarding damages to Regions Bank. As to Plaintiff Regions' claims for damages against R1A Palms, LLC, Triple Net Exchange, LLC, MK Investing, LLC, and BNK Smith, LLC, the spreadsheet attached to the Agreed Motion shows the amounts of the respective overdrafts, and the amount of prejudgment interest that should be awarded on the respective overdrafts. Plaintiff Regions Bank further requests that the Court retain jurisdiction to determine reasonable attorney's fees and expenses owed by the Kaplan Entities on Regions' post-judgment motion for that relief, and requests that the Court retain jurisdiction to determine reasonable attorney's fees and costs as to other parties.

         In the Memorandum Opinion (Dkt. 826), the Court directed the Clerk of Court to enter a final judgment on the respective claims in favor of R1A Palms, LLC, Triple Net Exchange, LLC, MK Investing, LLC, and BNK Smith, LLC and against Regions Bank. (Dkts. 828, 829, 830, 831, 832). Regions Bank requests that the Court vacate these judgments and include the judgments in the Omnibus Final Judgment.

         I. Damages Awarded to Plaintiff Regions Bank

         The Court granted summary judgment in favor of Plaintiff Regions Bank on multiple counts as to each Kaplan Entity. However, Regions Bank may only recover once for the same actual damages, regardless of the alternative theories presented. See Sierra Equity Grp., Inc. v. White Oak Equity Partners, LLC, 650 F.Supp.2d 1213, 1229 (S.D. Fla. 2009).

         In the Corrected Second Amended Complaint, Plaintiff Regions Bank identifies Regions' losses:

A. R1A Palms, LLC Account:

($9, 116, 353.47)

B. Triple Net Exchange, LLC Account:

($1, 689, 590.03)

C. MK Investing, LLC Account:

($1, 178, 923.79)

D. BNK Smith, LLC Account:

($ 164, 379.01)

         The spreadsheet attached to the Agreed Motion indicates that as of March 5, 2012, Regions5 loss as to the R1A Palms, LLC Account was reduced to $3, 366, 007.52.

         The spreadsheet reflects the award of prejudgment interest to July 5, 2017. The Court has included additional prejudgment interest to November 9, 2017, including 86 days at 5.17% and 40 days at 5.35%:

A. R1A

86x476.77

$41, 002.22

40x493.96

$19, 758.40

B. TNE

86x239.32

$20, 581.52

40x247.65

$ 9, 902.00

C. MKI

86x166.99

$14, 361.14

40x173.00

$ 6, 920.00

D. BNK

86x23.28

$2, 002.08

40x24.12

$ 964.80

         The Court therefore awards damages and prejudgment interest to Regions Bank in the following amounts:

A. R1A

Damages

$3, 366, 007.52

Prejudgment Interest

$ 942, 400.31

B. TNE

Damages

$1, 689, 590.03

Prejudgment Interest

$ 467, 513.70

C. MKI

Damages

$1, 178, 923.79

Prejudgment Interest

$ 326, 222.14

D. BNK

Damages

$ 164, 379.01

Prejudgment Interest

$ 48, 485.23


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