Case Information
*1 Case 1:03-cv-00569-JLK-EEB Document 66 Filed 09/19/05 USDC Colorado Page 1 of 2
IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLORADO Judge John L. Kane
Civil Action No. 03 cv 569 JLK
In re: UNIVERS AL COMMUNICATIONS NETWORK, INC.
Debtor.
____________________________________________
JEFFREY L. HILL, Chapter 7 Trustee
Plaintiff,
v.
MICHAEL PAYNE and LAURA PAYNE WRIGHT,
Defendants. ORDER
Kane, J.
This matter is before me on Plaintiff Jeffrey L. H ill’s M otions to Alter or Amend Judgment Concerning Prejudgment Interest (Doc. # 54) and for Attorney Fees (Doc. #57). I grant the M otion regarding prejudgment interest, and deny the request for fees.
With respect to the request for prejudgment interest, I reject D efendant Payne’s assertion that the the issue has been previous ly litigated because I denied Plaintiff’s original request for it based solely on Plaintiff’s procedural failure to cite to the appropriate legal standard. The appropriate standard in this circuit is articulat ed in Turner v. Davis, Gillenwater & Lynch (In re Inv. Bank er s , Inc.) , 4 F.3d 1556, 1566 (10th Cir. 1993), cert. denied , 510 U.S. 1114 (1994). Exercising my discretion under Turner to award prejudgment *2 Case 1:03-cv-00569-JLK-EEB Document 66 Filed 09/19/05 USDC Colorado Page 2 of 2
interest where such an award (1) would compensate the injured party and (2) is not p recluded by principles of equity, I GRANT the request. Prejudgment interest in this case will not, however, be deemed t o have begun accruing until after suit was filed, and will be at the applicable federal , not state, interest rate under 28 U.S.C. § 1961. See Turner at 1566.
Plaintiff’s request under Fed. R. Civ. P. Rule 54(d)(2) for an order shifting his attorney fees to Defendants under Delaware law is reject ed. T here was no showing of egregiousness or bad faith as required under Delaware law (or applicable federal law, for that matter, under 28 U.S.C. § 1927). The jury’s determination that Defendant Payne acted fraudulently for purposes liability under § 548 of t he Bankruptcy Code is not tantamount to a finding of egregiousness or bad faith for purposes of deviating from the American Rule regarding fees.
P laintiff shall submit a form Amended Judgment setting forth the precise amount of p rejudgment interest that shall be deemed to have accrued from the date this action w as filed until the date of the original judgment, at the applicable federal interest rate.
Dated this 19 th day of September, 2005.
BY THE COURT: S /John L. Kane JOHN L. KANE, SENIOR JUDGE UNITED STATES DISTRICT COURT