newmont usa limited et al v. insurance company of north america amended judgment
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IN THE UNITED STATES DISTRICT COURTFOR THE DISTRICT OF COLORADOSenior Judge Zita Leeson Weinshienk
Civil Action No. 06-cv-01178-ZLW-BNB
NEWMONT U.S.A., LIMITED, f/k/a NEWMONT MINING CORPORATION, andN.I. LIMITED,
Plaintiffs and Counterclaim Defendants,
v.
INSURANCE COMPANY OF NORTH AMERICA,
Defendant and Counterclaimant.
AMENDED JUDGMENT
By Order dated September 20, 2006, this Court (i) granted the July 5, 2006
Defendant And Counter-Claimants Motion To Stay And Compel Arbitration; (ii) denied
Plaintiffs Cross-Motion For Determination Of Courts Authority To Adjudicate Plaintiffs
Claims And To Stay Arbitration; and (iii) held that certain releases asserted by
plaintiffs, Newmont U.S.A., Limited, f/k/a Newmont Mining Corporation (Newmont) and
N.I., Limited (NIL), to constitute valid defenses to claims asserted herein by Insurance
Company of North America (INA) (the Release Issue) have no application to INAs
claims herein and do not constitute valid defenses thereto.
Pursuant to this Courts September 20, 2006 order, arbitration was conducted
and resulted in a Final Award by the arbitrators, dated December 21, 2007, a copy of
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which is attached hereto as Exhibit A. The Final Award was modified by the arbitrators
Order Clarifying Final Award dated April 15, 2008 and attached hereto as Exhibit B.
On September 19, 2008, the Court issued an order granting in part and denying
in part Plaintiffs Motion For Entry Of Final Judgment. On August 11, 2010, the United
States Court of Appeals for the Tenth Circuit affirmed in part and reversed in part this
Courts September 19, 2008 Order. On September 8, 2010, this Court entered an
Order altering the terms of the post-judgment interest as directed by the Tenth Circuit.
By reason of the forgoing, all of the parties claims asserted herein have been resolved.
Therefore, it is hereby
ORDERED that judgment is entered against Plaintiffs Newmont and NIL
dismissing with prejudice all claims and causes of action asserted by them in their
Complaint. It is
FURTHER ORDERED that judgment is entered in favor of INA and against NIL
on INAs counterclaims asserted in this action. It is
FURTHER ORDERED that the Final Award as modified, annexed hereto as
Exhibits A & B, is hereby confirmed pursuant to 9 U.S.C. 9 and INA is awarded (a)
$461,782.24 for Pinal Creek site claims under the 1982-1985 Reinsurance Agreements
annexed hereto as Exhibit C; (b) $258,701.34 in compounded interest at the
contractually agreed upon rate of 1.5% per month to January 18, 2008; and (c)
$556,893.15 in attorneys fees and costs incurred through January 18, 2008, in
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attempting to collect amounts due under the 1982-1985 Reinsurance Agreements as
agreed upon by the parties, which totals $1,277,376.70. It is
FURTHER ORDERED that INA is awarded interest on the outstanding balance
as defined by the Reinsurance Agreements at the rate of 1.5% per month from January
19, 2008 up to and including September 18, 2008. It is
FURTHER ORDERED that INA is awarded attorneys fees and costs incurred
after January 18, 2008 in attempting to collect amounts due under the 1982-1985
Reinsurance Agreements as agreed upon by the parties. It is
FURTHER ORDERED that post-judgment interest shall accrue on the judgment
at the rate of 1.5% per month including and after September 19, 2008.
DATED at Denver, Colorado this 10th day of September, 2010.
FOR THE COURT:
GREGORY C. LANGHAM, CLERK
s/ Edward P. ButlerEdward P. Butler,Deputy Clerk
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