Whitaker v. Bike Athletic Co. (In re Olympia Holding Corp.)
Docket: Bankruptcy No. 90-4223-3P7; Adversary No. 91-01440
Court: United States Bankruptcy Court, M.D. Florida; January 12, 1998; Us Bankruptcy; United States Bankruptcy Court
Plaintiff’s Motion for Summary Judgment regarding unpaid freight charges and interest has been granted by the Court. The case involves Olympia Holding Corporation, which filed for Chapter 11 bankruptcy on October 16, 1990, and was later converted to Chapter 7. Lloyd T. Whitaker was appointed as Trustee for both proceedings. On September 3, 1991, Whitaker filed a complaint for turnover of property and money judgment against the Defendant, which was amended on September 24, 1997, to include a request for $5,025.96 plus interest for unpaid freight services. The Defendant did not dispute the amount owed but contested the assessment of prejudgment interest. After a hearing on December 18, 1997, the Court concluded that the Plaintiff is entitled to recover the unpaid freight charges and awarded prejudgment interest at the statutory rate of 5.468% from the shipment date. The Court's order includes a directive to enter a separate judgment in favor of the Plaintiff, and while the Plaintiff suggested compounding the interest annually, the Court declined to do so, opting instead for simple interest calculation.