UNITED STATES DISTRICT COURT EASTERN DISTRICT OF NEW YORK
December 17, 2009
SHEET METAL WORKERS' NATIONAL PENSION FUND; NATIONAL ENERGY MANAGEMENT INSTITUTE COMMITTEE FOR THE SHEET METAL AND AIR CONDITIONING INDUSTRY; SHEET METAL OCCUPATIONAL HEALTH INSTITUTE TRUST; INTERNATIONAL TRAINING INSTITUTE FOR THE SHEET METAL AND AIR CONDITIONING INDUSTRY; AND NATIONAL STABILIZATION AGREEMENT OF THE SHEET METAL INDUSTRY FUND, PLAINTIFFS,
JERSEY SHEET METAL WORKS, INC., AND ROBERT PHILLIPS, AS AN INDIVIDUAL, AND STUART PHILLIPS, AS AN INDIVIDUAL, DEFENDANTS.
The opinion of the court was delivered by: Block, Senior District Judge
MEMORANDUM AND ORDER
Before the Court is plaintiff's motion to enforce the terms of the parties' Settlement Stipulation and Order ("Settlement Agreement"), executed December 19, 2007, against defendant Jersey Sheet Metal Works, Inc. ("Jersey Sheet Metal").*fn1 The Court previously granted a similar motion as to defendant Robert Phillips ("Phillips") by Memorandum and Order dated January 13, 2009 ("January 13 M&O").
Jersey Sheet Metal has not contested plaintiffs' allegations of default under the Settlement Agreement, though given ample opportunity. Because the reasoning of the January 13 M&O applies equally to the current motion, Jersey Sheet Metal is jointly and severally liable to plaintiffs for this default for the reasons stated therein.
The Court directs the Clerk to enter judgment against Jersey Sheet Metal in the amount of (1) $421,177.92 in principal, representing $603,542.76 in liquidated damages specified by the Settlement Agreement less the $182,364.84 already paid thereunder, and (2) $43,352.48 in prejudgment interest (simple interest calculated at the rate of 8.5% per annum from the date of default, October 1, 2008, to the date of this Memorandum and Order). Plaintiffs are also entitled to post-judgment interest on this sum at the standard federal rate. See 28 U.S.C. § 1961(a).*fn2
Brooklyn, New York
FREDERIC BLOCK Senior United States District Judge