2013-00148208-CU-OE
Aaron Echols vs. University Capital Management Inc
Nature of Proceeding:
Filed By:
Motion for Entry of Judgment
Hubbert Jr, E.A.

Defendant’s motion pursuant to Code of Civil Procedure §664.6 to enforce its
settlement with plaintiff is GRANTED, as follows.

Moving counsel is admonished because the notice of motion fails to provide the
correct time and department for hearing and also fails to provide the correct address
for Dept. 53/54.

Moving counsel is also admonished for failing to comply with CRC Rule 3.1110(b)(3).
Opposing counsel is admonished for failing to comply with CRC Rules 2.111(3) and
3.1110(b)(3)-(4).

At the outset, the Court must remind counsel that given the number of motions such as
this which must be addressed on a daily basis, there are simply not enough judicial
resources available to resolve each and every nominal dispute that could have and
should have been resolved informally through a legitimate, reasonable and good faith
meet-and-confer process. The Court will in the future consider imposing appropriate
sanctions for counsel’s failure to engage in a proper meet-and-confer process.
The parties to this employment action negotiated a settlement which was memorialized
in writing. The settlement agreement contemplated defendant making installment
payments and if made timely, no interest would accrue but “In the event of a late
payment by Employer [defendant], Employee [plaintiff] will be entitled to interest at the
rate of ten percent beginning October 9, 2013, until the payment made [sic].”

Defendant failed to timely pay its second installment of $25,000 due on 11/8/2013,
paying $15,000 five (5) days late on 11/13/2013 and $10,000 forty-one (41) days late
on 12/19/2013. The dispute here relates to the amount of interest due to plaintiff in
light of these tardy payments. The Court finds that the written agreement is not
entirely clear as to how this interest is to be calculated but the Court finds reasonable
under these circumstances that the interest is to be calculated on the amount of the
payment which is late multiplied by the number of days after 10/9/2013 the payment is
ultimately made.

Thus, for the $15,000 paid late on 11/13/2013, plaintiff is entitled to 10% interest on
the full $25,000 which was due on 11/8/2013 for a total of 35 days based on the
10/9/2013 date specified in the agreement. Since 10% annual interest on $25,000
amounts to $6.85 per day ($2,500/365), plaintiff is entitled to $6.85 interest per day for
35 days, or $239.75.

For the $10,000 paid late on 12/19/2013, plaintiff is entitled to 10% interest on the
$10,000 overdue amount for a total of 70 days based on the 10/9/2013 date specified
in the agreement. Since 10% annual interest on $10,000 amounts to $2.74 per day ($1,000/365), plaintiff is entitled to $2.74 interest per day for 70 days, or $191.80.

Since $239.75 plus $191.80 equals $431.55, plaintiff is entitled to interest in the
amount of $431.55 as a result of defendant’s failure to make timely payment of the
$25,000 second installment.

On 1/9/2014, defendant made its final payment of $30,000 plus an additional payment
of $2,134.83, ostensibly representing the interest owed on the late payment of the
second installment plus attorney fees recoverable under the settlement agreement.
Because plaintiff has already been paid all principal and interest now due under the
settlement agreement, the Court finds that defendant is pursuant to Code of Civil
Procedure §664.6 entitled to entry of judgment consistent with the settlement
agreement.

Should plaintiff desire to seek attorney fees and costs in connection with enforcement
of the settlement agreement as permitted by that agreement, he is free to file and
serve an appropriate motion after an appropriate good faith meet-and-confer process.
Pursuant to CRC Rule 3.1312, defendant to prepare a proposed judgment consistent
with the parties’ written settlement agreement.

This minute order is effective immediately. No formal order or other notice is required.
(Code Civ. Proc. §1019.5; CRC Rule 3.1312.)