Robert J. Faris
SHULTS & TAMM, ALC
A LAW CORPORATION
LISSA D. SHULTS (JD 7910)
BRADLEY R. TAMM (JD 7841)
HONOLULU, HAWAI'I 968 13
Attorneys for Plaintiff-Trustee
DANE S. FIELD
Re: Dkt. #586
Date: January 27, 2012
Time: 10:00 a.m.
Judge: Robert J. Faris
ORDER AND JUDGMENT AS TO DEFENDANT EDWARD EUGENE
SPENCER, SR.
Based on the Stipulation by and between Plaintiff-Trustee and Defendant Edward Eugene Spencer, Sr. [Dkt. #586], a copy of which is attached hereto, and good cause appearing therefore IT IS HERBY ORDERED ADJUDGED AND DECREED that Plaintiff-Trustee be awarded judgment against:
A. Defendant Edward Eugene Spencer, Sr. in the amount of $4,925.07 dollars consisting of $2,398.54 in avoided transfers and $2,526.53 in prejudgment interest thereon through September 15, 2011, accruing at the rate of $0.66 per day until entry of judgment.
B. Post judgment interest shall accrue at the federal judgment rate as applied by 28 U.S.C. § 1961(a), or any successor statute, in the amount of .12% per annum.
Robert J. Faris
United States Bankruptcy Judge
In re Maui Ind Loan & Fin Co Inc Debtor.
DANE S. FIELD; Plaintiff-Trustee
v.
THE TRUST ESTATE OF ROSE KEPOIKAI, et al., Defendant.
Ch. 7 No. 10-BK-00235
ADV. NO. 10-AD-90126
re: Dkt. #506
Date: «HD»January 27, 2012
Time: «HT» 10:00 a.m.
Judge: Robert J. Faris
STIPULATION FOR ENTRY OF JUDGMENT AS TO DEFENDANT
EDWARD EUGENE SPENCER, SR.; ORDER AND JUDGMENT
Stipulation for Entry of Judgment
as to Defendant Edward Eugene Spencer, Sr.
Plaintiff-Trustee DANE S. FIELD and Defendant Edward Eugene Spencer, Sr., in connection with that certain Assignment of Rights, attached hereto as Exhibit A and incorporated by reference as though set forth fully at length herein, do hereby Stipulate as follows:
1. During all times relevant to the Complaint, Defendant Edward Eugene Spencer, Sr. ("Defendant") was a beneficiary of the Rose Kepoikai Trust, a co-defendant herein.
2. Defendant does not dispute Plaintiff-Trustee's contentions that co-defendant-Debtor Lloyd Y. Kimura ("Kimura"), or his controlled entity, Debtor Maui Industrial Loan & Finance Company Inc, ("MFC") between the years 1989 and 2000, made various payments to the Defendant Rose Kepoikai Trust in the aggregate sum of $3,187,743.60.
3. Defendant does not dispute Plaintiff-Trustee's contentions that Debtors Kimura or MFC's funds received by the Rose Kepoikai Trust were used to pay taxes, administrative expenses and to make distributions to beneficiaries, including Defendant herein.
4. Defendant is informed and believes that he/she was entitled to a 0.0013228 per cent distributive share from the Rose Kepoikai Trust corpus.
5. On or about November 6, 2000, Defendant received a distribution from the Rose Kepoikai Trust in the approximate amount of $661.40. Prejudgment interest on the $661.40 distribution through September 15, 2011 totals $718.47 and accrues at $00181 per day thereafter.
6. On or about February 16, 2001, Defendant received a distribution from the Rose Kepoikai Trust in the approximate amount of $1,322.80. Prejudgment interest on the $1,322.80 distribution through September 15, 2011 totals $1,399.98 and accrues at $0,362 per day thereafter.
7. On or about October 24, 2001, Defendant received a distribution from the Rose Kepoikai Trust in the approximate amount of $397.85. Prejudgment interest on the $397.85 distribution through September 15, 2011 totals $393.81 and accrues at $0,109 per day thereafter.
8. On or about January 22, 2003, Defendant received a distribution from the Rose Kepoikai Trust in the approximate amount of $16.49. Prejudgment interest on the $16.49 distribution through September 15, 2011 totals $14.27 and accrues at $0,005 per day thereafter.
9. In recognition of the foregoing stipulated facts, it is agreed by and between Plaintiff-Trustee and Defendant that:
A. Plaintiff-Trustee be awarded judgment against Defendant in the amount of $4,925.07 consisting of $2,398.54 in avoided transfers and $2,526.53 in prejudgment interest thereon through September 15, 2011, accruing at the rate of $0.66 per day until entry of judgment.
B. Nothing in this stipulation shall be of any force and effect until same is approved by the Bankruptcy Court with a finding of good faith under HRS § 663-15.5 and a final order approving the parties' agreements is entered, without appeal pending.
C. Post judgment interest shall accrue at the federal judgment rate as applied by 28 U.S.C. § 1961(a), or any successor statute.
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Edward Eugene Spencer, Sr.
Defendant
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DANE S. FIELD
Plaintiff-Trustee