Fujian Ocean Shipping Co. Ltd. v. O. W. Bunker Far East (S) Pte. Ltd.

• Court: District Court, S.D. New York
• Decided: August 2, 2022
• Docket: 1:16-cv-00401
• Status: Unknown

Opinion

UNITED STATES DISTRICT COURT DOCUMENT SOUTHERN DISTRICT OF NEW YORK ELECTRONICALLY FILED DOC #: ------------------------------------------------------------ X DATE FILED: 08/02 /2022 : FUJIAN OCEAN SHIPPING CO. LTD., : individually and on behalf of M/V ZHENG RUN : (IMO No. 9593816), and M/V ZHENG RONG : (IMO No. 9593828), : : Plaintiff, : : 16-CV-401 (VEC) -against- : : OPINION & ORDER O.W. BUNKER FAR EAST (S) PTE. LTD., : EQUATORIAL MARINE FUEL : MANAGEMENT SERVICES PTE LTD., : SINANJU MARINE SERVICES PTE LTD., : GLOBAL MARINE TRANSPORTATION PTE : LTD., GLOBAL ENERGY TRADING PTE LTD. : and ING BANK N.V., : : Defendants. : ------------------------------------------------------------ X VALERIE CAPRONI, United States District Judge: WHEREAS on February 1, 2016, Fujian Ocean Shipping Co. Ltd. (“Fujian”) deposited $1,972,392.60 in the Court’s registry to stand as security in this interpleader action, Deposit Order, Dkt. 12; Cashiers Office Receipt (Feb. 1, 2016 text entry); WHEREAS on March 28, 2022, the Court resolved cross-summary judgment motions filed by Global Energy Trading Pte Ltd. (“GET”) and ING Bank N.V. (“ING”), Fujian Ocean Shipping Co. v. O.W. Bunker Far E. (S) PTE. Ltd., No. 16-CV-401, 2022 WL 902668 (S.D.N.Y. Mar. 28, 2022); WHEREAS the Court found that “ING is entitled to $1,315,247.52 (the invoice amounts) plus $50,276.33 (prejudgment interest) minus the attorneys’ fees and costs to be awarded to Fujian following either the parties’ agreement on that issue or the Court’s resolution of a new fee application,” and that “Fujian is entitled to $606,868.75, the remaining amount on deposit, plus the attorneys’ fees and costs that ultimately will be awarded,” id. at *18; WHEREAS on July 29, 2022, the parties filed a proposed stipulation and order with respect to the disbursement of the $1,972,392.60 on deposit with the Court, Prop. Stip., Dkt. 107; WHEREAS on August 2, 2022, the Court granted the parties’ request that the monetary terms in the proposed stipulation and order be kept under seal, Endorsement, Dkt. 108; WHEREAS pursuant to the proposed stipulation, a is to be disbursed to Fujian’s attorneys in this action, to then be disbursed by them in accordance with the Settlement Agreement, Prop. Stip, Dkt. 107 at 3; WHEREAS the proposed stipulation also states that “the balance of the Interpleader Fund, comprising [is to] be deposited into an interest-bearing account under the Court’s CRIS system,” id.; WHEREAS given that the Interpleader Fund totals $1,972,392.60, following a disbursement of a to Fujian’s attorneys, a (and not i) would comprise the balance of the Interpleader Fund and would remain deposited with the Court; and WHEREAS the proposed stipulation accordingly leaves aa unaccounted for and on deposit in the Court registry’s non-interest bearing account. IT IS HEREBY ORDERED that by no later than Friday, August 12, 2022, the parties must file a letter explaining the unaccounted for i or alternatively, the parties may file a revised proposed stipulation and order accounting for the entire Interpleader Fund. SO ORDERED. \ Qe, (G Date: August 2, 2022 ‘VALERIE CAPRONI New York, NY United States District Judge